I still smoke. Darn it! I am tying but I do smoke. Can I get a life insurance policy in San Antonio TX?

Cheryl

San Antonio, TX

Hello Cheryl,

Well, I understand your frustration. It sounds like you are trying to stop smoking but just can’t. When you do, make sure you notify your life insurance carrier in San Antonio Texas. It may well affect you premium rates. Life insurance carriers in Texas TX do offer coverage to smokers. All candidates for a life insurance policy are classified. Basically there are two classifications for smokers. One is a preferred smoker classification and another is standard smoker. If you smoke, you will be classified as one or the other by the life insurance company and you will receive a premium proposal based on that class. It will be higher than a similar proposal for a non-smoker, but life insurance is available.

Many smokers purchase a term life insurance plan while they attempt to stop smoking. After they have beaten their smoking habit, they can often convert to a permanent life insurance plan if they want to enjoy cash value buildup. After two or three years of not smoking, life insurance policy holders should ask their agent for consideration and a reduction to their premiums.

It is interesting to note that by stopping smoking, you may also be able to lower your home insurance premiums. Combining that reduction with the potential for cost reduction and easier access to life insurance is worthy if consideration.

Tags: life insurance, smoker life insurance

I have a term life insurance that is about to expire. I no longer intend to renew with my current insurer. Though I’d like to keep a life insurance policy from a different carrier, I do not want to go through the tedious medical exam during application process. It took me forever to get approval with my current life insurance company. Will I be able to find a no exam life insurance in San Antonio, Texas? I appreciate your help.

Tina

San Antonio, TX

It’s good that you asked me, Tina.

You never run out of options for no exam life insurance in San Antonio, Texas. We all know that it takes a while before a traditional life insurance policy gets approved. You need to undergo the lengthy procedure of underwriting process, medical exam, a battery of interview, and all the works.

Time has changed and the tide is flowing along with you. Since most life insurance companies nowadays are transacting online, you can start shopping your life insurance policy online. With no exam life insurance policies, you are simply required to fill out a questionnaire which is intended to capture relevant information about you such as occupation, age, gender, birthday, zip code, among others. You don’t have to worry about any medical condition that could possibly reject you from coverage. It is good to know that no exam life insurance policy usually does not consider your medical condition to be a major factor for approval of coverage (though I am not telling you to conceal any medical condition for approval). This is precisely the reason why this can charge relatively higher premiums.

Even if this is not guaranteed to be approved, but it might get your attention if you’d learn that you can get a life insurance policy in 15 minutes with no exam life insurance policies.

I just gave birth to a bouncing baby boy in San Antonio. Do I need to reevaluate my life insurance coverage? Should I purchase an infant life insurance policy for my child?

Marita

San Antonio, TX

Congratulations, Marita!

I should say, yes! You definitely need to review your life insurance coverage in San Antonio TX to make sure that you will not be underinsured. Remember that each time there is a new addition to our family, your financial needs grow which might affect the others who rely on you for support. You better make adjustments where necessary to make sure your family is well protected whatever happens.

A few things you would like to protect are your future earnings, your other dependents, and your savings. Yes, you may purchase one for your child, because most insurance companies in San Antonio offer low infant life insurance policy. However, be advised that your own life insurance policy might be adequate to protect your child’s financial future. By making the necessary adjustments to your life insurance, you will be making sure you are not underinsured in case of your premature death, and purchasing another one for your child might no longer be a necessity but an excess. You have to bear in mind that in any kind of insurance policy, if the benefits are less than its costs, then it is useless.

But the decision here really is up to you. If you really decide to purchase an infant life insurance policy, just make sure you select a company based on reputation in the industry, financial stability, opinions of others, and unbiased ratings information.

When I die and my life insurance policy pays out to my family…how will that be taxed?

Jenny,

Canyon Lake, Texas

I found this excerpt about your question Note: Under the current federal law, beginning in 2011, estates over $1 million will be subject to the federal estate tax with a maximum tax rate of 55 percent. Note there is a deduction against income for estate taxes paid. A good estimate of the net total percentage paid in taxes at the top brackets is 70%.

Should I consider my life insurance policy an investment option like the stock market?

Cherry,

San Antonio Texas

Hi there Cheryy, I would consider investments in the stock market are not a substitute for life insurance. Many Certified Financial Planner professionals recommend making sure adequate life insurance is in place before starting an investment program-even if it means paying the premiums with money that otherwise would have been invested. Although investing is essential to making money grow over time.

Sal,
San Antonio Texas

Hi Sal, Generally life insurance benefits are graded during the early years of the policy for death from natural causes, with the full amount paid if death occurs after the graded period or if the policy-holder dies accidentally at any time. Benefits may be used to cover burial expenses. A policy is usually purchased to cover up to a certain amount of years.

Life insurance is a way to help secure a family’s financial situation if the unthinkable happens. And though it may seem daunting, determining how much of a life insurance benefit is appropriate is relatively easy. Life insurance is usually not a particularly popular subject to discuss. Images of pushy salesmen waving the policy that “you absolutely must have” instantly come into your mind. Life insurance is one of those things that everyone should have, but a lot of people do not. Many of the people who have life insurance, do not have enough.

Life insurance is intended to provide some level of protection for financially interested parties should the worst happen. This means that cover can be provided for others who will become financially disadvantaged by the death of the insured person. Life insurance is unique among financial instruments. It is one of, if not the only financial instrument that is based on caring and love.

Term life insurance is pure insurance. When you purchase a term policy, you are buying coverage for a specific period of time. Term life insurance will almost always cost you less than whole life insurance. Term insurance is purchased for a specific period of time, for a specific face value. Term insurance (often called “pure insurance”) is a type of life insurance. It only covers you in a predetermined length of time, like five or ten years.