Smoking and Life Insurance: What You Need to Know

You already know that smoking isn’t a great idea for your health, but it could also be hurting you financially–especially when it comes to your insurance premiums. Searching for how this can affect your life insurance policy in Dadeville, AL? Highpoint Insurance Group is here to help. 

Here, we’ll take a look at how smoking could affect your life insurance policy. 

Smoking and Life Insurance

There’s no doubt that you can qualify for a life insurance policy if you smoke or use other tobacco products, but using these products can mean that you’re going to be paying more than if you quit. Since smoking and the use of other tobacco products have proven to be harmful to your health, life insurance companies are able to charge more for policies for people who smoke.

The good news: you’re not stuck with higher rates. After you’ve been tobacco-free for a year, you’ll be able to talk with your life insurance agent about a potential change in your policy that could lead to lower rates. Getting tobacco products out of your life can be tough, and knowing that you’re going to save money when you make the switch to a smoke-free life can give you the incentive you need to keep working towards getting healthier. 

Contact Us Today

Finding the right life insurance policy for you and your family is a key part of ensuring the ones you love are protected if the unexpected occurs. At Highpoint Insurance Group, we’re proud to serve our Dadeville, AL customers, and we look forward to getting to know you and discovering which of our life insurance policies is the best fit for your needs. 

Understanding Life Insurance in Dadeville, Alabama

If you are looking for information on life insurance in Dadeville, AL, you have come to the right place. In this blog post, you’ll learn what life insurance is and why it’s crucial. We will also provide information on the different life insurance policies available.

What is Life Insurance?

Life insurance is a policy that provides financial protection in the event of the policyholder’s death. It helps ensure that your loved ones are taken care of financially after you pass away. Different life insurance policy types are available, so it’s essential to choose the right one for your needs.

Why is Life Insurance Important?

No one knows when their time will come, so it’s crucial to have life insurance. If something happens to you and you don’t have coverage, your loved ones will have to bear the burden financially. But if you have a policy, they’ll have peace of mind knowing some expenses have already been paid.

For help with the right policy, contact Highpoint Insurance Group.

What are the Different Types of Life Insurance?

There are three main types of life insurance for residents in Dadeville, AL: term, whole life, and universal life.

Term life insurance is the most straightforward and most affordable type of life insurance. It provides coverage for a specific period, 10, 20, or 30 years. If you die during that time, your beneficiaries will receive a payout.

Whole life insurance is more expensive than term life insurance, but it lasts your entire lifetime. It also has a cash value that grows.

Universal life insurance is a hybrid policy that combines the features of both term and whole life insurance. It is more expensive than term life, but it has a higher cash value than whole life.

Learn more about coverage options. Contact Highpoint Insurance Group for a quote today.

Life insurance FAQs

What is the best thing you can do for those you love? Some people will say, having life insurance. It certainly is important, and if you are thinking only of the death benefit, it can be crucial to making sure your loved ones are provided for. Life insurance can also be part of long-term financial planning.  At Highpoint Insurance Group in Dadeville, AL, we have been in business since 1992. We are dedicated to finding solutions for all of our customer’s insurance problems.

Do you have to choose a family member as a beneficiary?

In most states, you can name anyone you want as a beneficiary. Only community property is the exception. Since Alabama is not a community property state, you can name anyone you want to be the beneficiary.

What to do if you can’t make a premium payment?

The first thing to do is to contact your insurance carrier. Explain the situation. Most will be understanding and allow you some grace. Depending on the type of insurance, you may use the cash value to pay the premium. 

Is it necessary to buy life insurance if I get some from work?

It may not be necessary to buy additional life insurance if you get some from work, but it is a good idea. If you change positions, you may not be able to take life insurance with you, and that could leave you unprotected. 

Determining how much life insurance is enough? 

Consider your dependents and how long they need you to provide for them. Multiply your yearly income by the number of years, and you will have a reasonable figure to begin with. Other things figure in, but with this amount, you have a base.  

If you are looking for a family-owned independent insurance agency, Highpoint Insurance Group in Dadeville, AL is here to provide the customer service you deserve.