Life Insurance

[stogieluver]

Term policies are so cheap.  The difference in premium couldn't be that much.  Don't lie.  It will come back to bite not you but your beneficiary. 

[Thomasdenaro]

6 minutes ago, stogieluver said:

Term policies are so cheap.  The difference in premium couldn't be that much.  Don't lie.  It will come back to bite not you but your beneficiary. 

apologies, that's correct it will be the beneficiary, on the other hand its also a personal choice for the circumstances at present.

[gweilgi]

2 hours ago, El Presidente said:

Some excellent advice has already been given.

I need a few industry leading professionals and consider them as part of my team. I treat them as such. 

1. My Lawyer. 

2. My Accountant

3. My Insurance Agent. 

I don't lie to them. I expect them to do their very best for me and I catch up with each regularly. With Peter Byrne, my insurance agent (personal and general) I catch up professionally twice a year for a review and as a mate I catch up monthly. 

Professionally I expect him to locate the best business and personal policies for me based on my lifestyle and requirements. I expect him to review those policies regularly. 

Find a referral for a good insurance broker in your neck of the woods. Let them research and then put the appropriate policies to you. 

 

I absolutely agree.

Never lie to the people you pay to be on your side.  They are the experts, and giving them false or incomplete information is like owning a race horse and sending it into the 3.15 at Didjabringabeeralong with its front legs hobbled.  

Another strategy I always found helpful: talk to people.  Visit them in person, or pick up the phone.  Online forms are standardised and can only take you so far.  They are not designed to take into account individual circumstances, and cannot cope with anything that falls outside their very generalised horizons.

[PigFish]

2 hours ago, Fosgate said:

Also, someone mentioned the agent coached them. If we found an agent engaged in doing that it could very well mean their job.

 

If you were quoting me Fozzy, I was suggesting not that an agent 'coach' one in a lie, but address their needs with products without such deeds. A good agent will 'help' you in finding the right product for your needs, not in defrauding their fiduciary partner. My point was only, a good agent can help one here.

Cheers! -Piggy

[Fosgate]

I agree piggy. Integrity has been important to me for many years. A good agent will educate and help. One that will lie or act deceptively to the company the work for is a sure sign they are not trustworthy. After all, if they will lie in this business to their colleagues. Who's to say they won't lie or deceive you?

[awkwardPause]

Great advice here allaround whether you like it or not. Many honest, trustworthy folks. How many communities/forums can you say that about? As a relatively newly-married man and home owner (and life insurance policy holder), I greatly appreciate the knowledge being passed around! A lot of issues I hadn't even considered before.

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[BrightonCorgi]

There are some term life insurers that are more friendly to cigar smokers.  Go to an insurance broker and see what they offer.  Deliberately misrepresenting your self as a non-smoker is at your own risk.  Could be considered insurance fraud.  At a minimum, read your policy from A to Z before you sign.  

Then again if your profession was working at home and then got a job on an oil rig or working at a convenience store late at night changes things even more than whether you "started" smoking cigars...

[Frozen North]

Just make sure that when you apply for life insurance. That the application is UNDERWRITTEN at the time of application.

[jwr0201]

I very recently reviewed material, intending to purchase another, smaller life policy.  Upon reading the rates, they were broken into non-nicotine users and nicotine users.  They've gotten very crafty - no more smoker/non-smoker classifications.  Looks like we cigar only types are royally screwed!