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re: Everybody wants to sell me insurance...
Posted on 2/4/14 at 8:28 pm to white perch
Posted on 2/4/14 at 8:28 pm to white perch
I guess I'll add a question to the thread. I have a term through New York Life and got it 4 years ago back when I smoked. I quit smoking about 3 years ago and honestly haven't even thought about it so far as my rate that I pay could go down since I quit. The agent that set me up is no longer doing insurance anymore. For a term policy will my monthly rate I pay go down since I quit smoking or is that just for whole life that it goes down after you quit? I wasn't sure if anything could change like that on a term policy.
2
Posted on 2/4/14 at 8:48 pm to windshieldman
quote:
windshieldman
Yes, your rate will go down. Tobacco actually doesn't really effect whole life premiums for the most part. It effects the cash value performance more than anything as the insurance costs more, but the Premiums are usually the same as non-tobacco.
Most policies have a 3 year reconsideration period for tobacco (be tobacco free for 3 years and you can reconsider the rate). They will probably require a saliva test, but yes it will lower your rate.
This post was edited on 2/4/14 at 9:01 pm
Posted on 2/5/14 at 11:34 am to windshieldman
quote:
windshieldman
If you need help with that and are in the New Orleans area, let me know. Leave your email if so
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