Life insurance, along with most insurance policies, can be very hard to understand if you’re not familiar with them. From insurance company to insurance company, the types of coverages and policies will vary greatly. The biggest question is how do you know which insurance company or policy is right for you and your family? Well, some reading will help, and here are few tips if you’re in the market for life insurance.
First there is the most common form of life insurance called level term life. This is the least expensive form of life insurance that there is, and that most likely adds to its popularity. Level term life insurance gives families the protection and peace of mind that they need for the lowest cost.
With level term life insurance, if you pass away during the life of the policy, money will be paid to your beneficiary in a lump sum to cover the funeral, their living expenses, and any other coverages which were included in the policy. If you do not die during the term of the life insurance policy, there is no cash payout as with a whole life insurance at the end of the term. This is the main reason why the premiums are so low for level term life insurance.
If you need a life insurance policy that will help you save, and give you a pay out of a sum of money when the policy expires, then you should look into getting some whole life coverage. Whole life insurance It’s good for people who have trouble saving money on their own. Premiums for whole life however, tend to be more expensive than with term life insurance. As with all life insurance policies, there are many options that you have to choose from, and many price ranges to your budget. Some whole life insurance policies will even let you change the options midterm.
When shopping for life insurance, make sure you go from company to company to find the lowest rates and best options to fit your needs. The price for life insurance premiums will vary from company to company, so make sure you shop around.
Christopher Taylor
http://www.articlesbase.com/finance-articles/life-insurance-choices-138738.html
Should people with unhealthy life choices pay more in health insurance?
Things like Obesity, smoking, drinking – Should having that kind of life style require you to pay higher health insurance rates?
this is an interesting thought:)
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Yes, it should. Unsafe drivers have to pay higher car insurance rates. It’s a similar idea. If you’re at greater risk for a problem, you should pay more. It’s only fair.
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with mwdical point of view it may
but if u go through statistics or data about insurance company it seems to be not working
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for certain things I do believe they should, like smoking with cancer. I mean they are predisposing themselves to this
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I think there should be a date say 5 years in the future that if everyone who smokes, drinks heavily, or is obese you have to pay an increased insurance rate.
That’s far enough in advance for everyone to get "clean".
I say this even though I’m about 40 pounds overweight….but fair is fair.
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Some people can’t help it that they are obese (medical conditions). Otherwise, I agree. Unhealthy life choices are a choice after all… It would be hard to get accurate information, though. People would probably not want to admit that they smoke because their insurance would go up.
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No. Obesity often cannot be prevented. Some people are obesty due to thyroid disorders. Depression and other mental diseases can easily cause obesity.
Alcohol and smoking quickly becomes an addiction. Addiction can be blamed on a number of things. Many smokers and alcoholics are chronically depressed. These people need to see therapists, not have higher bills to pay.
Urging patients and customers to lose weight, quit smoking, and quit drinking should be more common than it is.
Higher insurance rates may cause these problems to get worse.
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don’t they pay different rate already?
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In many cases they already do. This is one of the arguments for single payer insurance or universal health care. When we get insurance through work, there is no health screen to determine how much of a liability someone is due to life style choices. That means that the people who stay healthy subsidize (through employer costs) those who are unhealthy.
If we try to get insurance directly then there is a physical and screening questions that will either cause a denial or a higher rate to have the insurance.
I think most individuals would agree that those persons who choose to live a riskier lifestyle should pay higher rates and not be covered by those who live a healthy lifestyle. This is one argument to get rid of employer sponsered health insurance. If they instead paid us directly and we had to "shop" for health insurance, this would also make the insurance companies have to compete and tune up their services.
And by the way. I disagree with some of the other answers that obesity is not a treatable disease. Underlying disorders like depression or hypothyroidism can be treated. EVERY person has the ability (but not necessarily the drive or will) to lose weight. I treat obesity every day and my patients who truly WANT to lose weight do lose weight.
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yes because they are putting their lives in danger. now if they have like a disease that makes them obese then no, cause its not their fault. but if their just obese because they eat too much, then maybe the rising cost of their life insurance will make them realize that being fat is killing them and they need to lose weight and take better care of themselves.
people who smoke. HECK YES oh my gosh. then, people will, (some at least) finally stop smoking and putting their, and others lives in danger and all the cigarette companies will finally go out of business!
people who drink: only if their like chronic drinkers, not social drinkers that do it every once in a while. same w/ social smokers.
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