life insurance cost Archives

How Does Asthma Affect Your Life Insurance?

Around 1 in 12 people (25 million people) in the US have asthma, and the numbers continue to increase every year. For these 25 million Americans, life insurance might seem like an impossibility because their condition could mean higher premium prices. And while having asthma does affect life insurance because it’s a pre-existing health condition, you probably won’t get denied coverage because of it. The best way to get life insurance if you have asthma is to compare policies offered by different life insurance companies.

Asthma & Life Insurance

When you apply for a life insurance policy, insurers will review your medical history in order to see how healthy you are, and determine if they want to offer you a policy. Pre-existing health conditions mean you’ll be a higher risk to insure for the long term, and since asthma is considered a pre-existing health condition, having it might raise your rates slightly. But it does depend on how severe your asthma is.

If you have asthma and are looking for a policy, insurers will typically ask the following questions:

When were you first diagnosed with asthma?
How frequent are your asthma attacks?
Are you on any medication for it?
Do you take your medication as prescribed?
Have you ever been hospitalized due to your asthma?
Does asthma limit any of your activities?
Do you smoke or have you ever smoked?

After you have answered these questions, the insurer will determine your rate based on several factors, including how severe your asthma is and the insurance company’s policy on asthma. It’s important to remember that different life insurance companies will view different health conditions differently. Some life insurance companies will consider asthma as a more severe condition, while others will not.

Asthma & Life Insurance Classifications

Typically your rate class will be based on the type of asthma you have. If you have Mild Bronchial Asthma, in which your lungs are clear and your asthma is mild, you could be approved at Standard or even Preferred rates.

If you have Moderate Bronchial Asthma, meaning your asthma is chronic, and you have slight wheezing and acute episodes that need to be treated by spray or injections, you may be approved at Standard rates.

If you have Severe Bronchial Asthma, and you exhibit severe episodes of asthma and are treated by hospitalization and chronic steroid use, you may be approved for Substandard rates, which are generally the highest rates.

Need Help?

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from – even if you have asthma – that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

4 Surprising Things That Cost the Same as Life Insurance

A lot of people think life insurance is a big expense, which is probably one of the main reasons that they choose not to buy a policy, or even to look into getting one. If that’s what you’re thinking, you might be surprised to know that life insurance is not nearly as expensive as you think. In fact, in some cases, the price of monthly premium payment is the same as the cost of a meal at a restaurant! So, while it might be tempting to forgo life insurance to try and save some money in the short-term, you could end up costing your family their financial security in the long-term.

In order to help convince you, we’ve given you a list of some things that cost the same as life insurance, or even more, so you can see how easily a policy can fit into your budget.

Before we get into the list, we wanted to make it clear that we’re looking at the price of a life insurance policy for a healthy 30-year-old, so the rate for your policy can vary. But for our hypothetical customer, they could get a $250,000 policy for around $13 a month. Yes, $13! So what else costs around the same as the average policy?

A bottle of wine– Do you enjoy a glass of wine with dinner now and again? Understandable, but this can cost the same as a whole month’s premium for a life insurance policy!
Online fitness classes– Staying fit is important, and can even help lower your monthly life insurance premiums- but either way, a monthly subscription plan might cost just as much or more than your premium payments.
Fast food meals– We all enjoy our little guilty pleasure of a fast-food burger or meal once in a while, so why not treat your family to a life insurance policy?
Music streaming plans– Jamming out when having a get-together, in the car, or while working out can help bring a little more joy into your life, but the cost of a subscription to a music streaming service can be the same as the price to protect your family in the future.

These four everyday things can all cost around $13, and bring you a little bit of pleasure, guilty or otherwise. And we get it, you’ve wanted these things, especially during the pandemic. But do you ever stop and think about these little expenses? Probably not, so now think about what you could give your family in the long run by paying the same amount for a life insurance policy!

Budget For Both

illustration of a calculator and money — *There is a way to incorporate life insurance into your budget because it is inexpensive.*

The little pleasures in life are important, and there’s no shame in that at all. But we know that your family’s welfare is always on your mind, and now you know that protecting them for a low price is possible! You can budget for both: your little pleasures, and life insurance for your family. There are so many different life insurance policies to choose from that there is definitely one to fit your budget. For example, do you want life insurance to only cover a major expense like your mortgage? Then go with a term life insurance policy. Looking for something that will last for your whole lifetime? Then a permanent or whole life insurance policy will be best.

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

How To Fit Life Insurance Into Your Budget

Many people have a misconception that life insurance is unnecessary, or that it’s too expensive even if they did want to buy it. But neither of those things are true: life insurance provides your family with an important financial safety net in case of the unexpected, and it can be surprisingly affordable.

You don’t have to worry about being able to afford life insurance because there are many types of policies, meaning there is one to fit almost any budget. If you are considering purchasing a life insurance policy for your family, we can help you figure out exactly how to fit it into your budget, although it shouldn’t be too difficult, since life insurance can cost as little as $30 a month!

Is Life Insurance Possible On a Budget?

wrench with some coins in it next to a calculator — *Many people think that life insurance is expensive, but you can get an affordable plan, even on a budget.*

Many people overestimate the cost of life insurance, but you should know that there is a policy out there for everyone, and that many policies are much more affordable than you think. According to a study from 2020, 65% of people did not buy life insurance that year because they thought that it would be too expensive. Not only did they think a policy would be too expensive, but they also overestimated the cost to be 3 to 5 times the actual amount.

Just consider this example rate: a woman in her 30s can buy a life insurance policy with $300,000 in coverage or more for as little as $15 to $30 a month. It’s important to note, though, that multiple factors go into determining an individual’s policy rate, including their health, age, etc.

How To Fit Life Insurance Into Your Budget

If you want to start budgeting for a life insurance policy, you should start by tracking your spending. One way you can do this is by keeping a spending journal. Write down how much you spend every month, including in your list expenses like rent or mortgage payments, car insurance, groceries, utility bills, credit card bills, and any extras.

Once you’ve done this, if you are finding it hard to fit the premiums for your life insurance policy into your monthly budget, you can look at your journal for ways to cut any unnecessary spending. This can include little things that can add up, like daily coffee runs and online impulse buys. Making cuts can be tough, remember that life insurance can protect your family in the long run, while online shopping just takes away from what you could be leaving for your family.

paper with graphs and calculator and files — *After seeing that you can find an affordable life insurance policy, then the next step is to decide how much coverage you need.*

After determining how much money you can spend on a monthly life insurance premium, the next step is to determine how much coverage you need. If you spend a little time comparing life insurance policies from different life insurance companies. you should be able to find a great policy for a price that works for you.

And if price is the biggest issue for you, you can consider a cheaper life insurance policy, such as a term life insurance policy. Term life insurance can be cheaper than permanent life insurance, because term life covers you for a set length of time, usually anywhere from 10 to 30 years, as opposed to covering you for your whole life. You can choose the length of time that you would like to be covered for, and will pay one low fixed premium for the length of the term.

Need Help?

You should know that life insurance policies are accessible for everyone, and that there are multiple types of policies to choose from, so anyone can find an affordable policy that provides the coverage their family needs. The best way to find the policy for you is by working with a licensed agent from a top-rated insurance company. They can help you find a policy with affordable rates, and give you ideas on how to cut down on costs. We have listed some companies to work with that will be able to find you the most coverage for less. Always check multiple sites to make sure you have bargaining power and to know the advantages of each company. Make sure a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.