Can I Get A Non-Smoker Michigan Life Insurance Rates If I Am Only Vaping?

Your Michigan Life Insurance Options If Your Are Vaping

For most Michigan life insurance carriers, you’ll find that the required medical exam (or paramed) to qualify for a policy can detect nicotine in your urine. This will most likely put you in the same boat as traditional cigarette smokers, and in the same underwriting class. Which means that the best non-smoker rate classes will probably not be in the cards if you’re vaping.

However, while the majority of insurance carriers consider vaping no different than smoking, a life insurance agent who is well-versed in underwriting guidelines will know there’s at least one major life insurance company that offers “Non Smoker” rates for unlimited vaping, cigar use, or chewing tobacco as long as no cigarettes have been smoked in the last 12 months.  I am sure at this point you are curious to know which carrier?  

Your Rates

We will have to wait for long-term health studies prove or disprove that e-cigarettes and vapes are less harmful than traditional cigarettes.  Until then, in most circumstances the best rates you’ll be offered from most life insurance companies if you’re a “vaper” will be the “Preferred Smokers” rate which, is over FOUR times higher than the best preferred non-smoker rate class.  Of course, that might change in the future.  Time only tells with life insurance carriers and how they handle underwriting.

What we do know is that vaping has become increasingly popular. We can argue the health effects, but again we can't argue the popularity.  The agency itself promotes healthy choices, so make sure to research vaping the effects.

Conclusion

If you are vaping in the state of Michigan, their are choices for your life insurance needs.  You need a experienced agent who understands multiple carriers, and how they handle their underwriting guidelines.  Make sure to reach out to us today to learn more at 586-277-1138.

Resources:

1. https://www.reuters.com/article/us-vaping-insurance-analysis/could-life-insurance-go-up-in-smoke-for-some-vapers-idUSKBN1Y61KL

2. https://www.sunshinebehavioralhealth.com/vaping/

3. https://www.cnbc.com/2019/11/04/why-your-vaping-habit-could-raise-your-life-insurance-costs.html

Michigan Charitable Giving With Life Insurance

As you can imagine, this is very popular within the state of Michigan.  First off, consult with a CPA if or before you ever consider this.

A consumer picks a permanent life insurance plan, and in a nutshell will pay the premiums for it.  However the church is the owner and beneficiary.  You pay the premiums and if everything falls into place, you will be eligible for tax write off for the premiums that again you pay.  To be more precise your premiums might be considered a "gift".

Different types of Michigan life insurance plans are popular when it comes to this.  Single Premium whole life plans (one lump sum payment), 10 pay whole life plans (pay for ten years and policy is paid off), and lifetime pay whole life plans.

Learn more by contacting us today.

Be Vigilant As You Buy Your Michigan Life Insurance Policy

Although it makes sense to get in touch with a life insurance company to cover your dependents in the eventuality of your untimely death, there are integrity issues surrounding the insurance companies and agents. We at Michiganhealthbroker, INC has broadly described 3 ways your life insurance company is scamming you. We have enlisted them for your benefit.

• Selling you coverage you will not need!

The insurance companies thrive on the fact that most people don’t understand their life insurance needs. With standard products, they try to sell you coverage that you might not need, but, which are lucrative for them. The insurance agents expedite the process so that you skip the fine print and sign up for a coverage that is ill-suited to your needs. Obviously the trick is to play on your fear factor and sell you heavy insurance, even if you don’t have dependents.

• Coaxing you to pay ‘Cash’

We strongly suggest, do not pay your premium through cash to an agent. Further, do ensure that you get a receipt for the payment. There are numerous fraudulent entities posing as genuine insurance agencies that extract hard cash from you in lieu of insurance premium. They ask you to sign at blank spaces in a form, assuring you that it is just a formality. Once you have fallen for their trick, you are left without an insurance coverage. The worst part is that most victims only come to know of this scam, when they have met with some mishap and there is not insurance to cover them.

• Luring you with benefits!

Insurance agencies and agents have a way of promising you unbelievable benefits out a life insurance policy. Life insurance agents might offer you plans, with a guarantee that the policy would run premium-free for a specific period. Some agents play it smart and offer you great discounts for signing you up for a new policy, while replacing an old policy. The trick is that the old coverage gets terminated and new coverage does not get initiated due to the cumbersome procedural bottlenecks. Thus, exposing you to risk without cover.  Keep in mind that if you replace your current life insurance coverage with a new plan, the two year death contestablity period restarts.




We at Michiganhealthbroker, INC have been selling Michigan life insurance policies for over the last six years.  Visit today for your Michigan life insurance quote.

Diabetics (diabetes) and Michigan life insurance options

Always amazes me when I talk to consumers within the state who have diabetes and what they currently are doing for their Michigan life insurance needs.  Having diabetes is not the end of the world. 

With work, we can help diabetics get into immediate death benefit plans.   What do I mean by that?  Most diabetics who have bought life insurance have purchased guaranteed issue plans (no health questions asked).  These products are expensive, and are graded so if you pass within the first two years (except for an accident) you only get a portion of the death benefit. 

We have term life insurance and permanent plans for diabetics based on health questions.  These products have immediate death benefits, and again are available based only a complete health questionnaire. 

For your life insurance in Michigan needs, we are here to help.


http://www.michiganhealthbroker.com