How much is the right amount of life insurance coverage that I should buy? I will be speaking with some insurance agents here in Miami, Florida about a policy soon and I want to know what kind of policy I should look for. Thanks!

Fleur

Miami, FL

The right amount of life insurance coverage that you need to get should be dictated by your personal financial goals and needs as well as those of those who rely on you for financial support. There are many so called “rule of thumbs” out there that dictates that you have to get at least buy a policy that has 10 or 20 times as much value as what you earn in a year, and while these are very good suggestions it may put unnecessary pressure and costs on your behalf just to meet these requirements. Also remember that we all have unique financial needs, obligations and situations so whatever life insurance policy you choose there in Miami, Florida should reflect that.

Let’s begin by focusing on why you would need life insurance in the first place. Here is a short list of questions that would guide you in determining the right kind of life insurance coverage:

• Do you have any dependents or kids? How much money would they need if you want to put them through college?
• Are you still paying mortgage? How much debt do you have left? How much money would you need to pay for these to avoid foreclosure or defaulting on your loans?
• How much does your household spend monthly? Annually?
• Do you want to make sure that your funeral costs are covered so as not to burden family or relatives in the event of your untimely death?

Tags: Life insurance advise, life insurance premiums, affordable life insurance, life insurance quotes, life insurance information

I want to get a life insurance policy as soon as I retire here in Miami, Florida, I don’t know what kind of life insurance I need, can you help me?

Esther

Miami, FL

The best kind of life insurance that you need is one that fits your financial goals and requirement in the long-run, especially once you decide to retire there in Miami, Florida. Everyone has their own unique needs and it would be up to you to decide what life insurance policy is best. However, there are some basic guidelines and information that you should know, or take into consideration while looking to get the right kind of coverage:

Overall, a whole life insurance policy would be better suited for those looking to get life insurance for the rest of their life. This is especially good for those about to retire since it allows you to have a stable regular rate and would not have to be subject to expirations and renewals. This is good since one would never know what might happen in the future that could make you un-insurable, so already having a policy before that happens saves you a lot of burdens.

Unlike Term life policies, there is a “Cash-Value” feature found in whole life policies where part of your premiums accumulate. This feature allows your policy to earn interest and make some amount of money withdrawable from your policy for future needs. The obvious drawback of this policy would be the expensive amount of premiums in the initial years but those would level out in the long run.

Tags: Elderly life insurance, term life insurance, whole life insurance, life insurance information

Will I be able to buy life insurance in Florida if I am asthmatic?

Abby

Miami FL

Yes you can still purchase a life insurance but it would be best to shop around before your buy. Some of the deciding factors of the insurance company whether they will consider your life insurance policy are the severity of asthma, how persistent it is and how well you respond to the treatments. The life insurance company will check the pulmonary function test results, your peak flow meter reading and how well is your breathing to know the risk that you have. If, for the past three years, you have not experienced worse asthmatic episodes, you may appear to be favorable and qualify a standard life insurance premium.

There are goals for asthma treatment that the National Institutes of Health has set. This includes a low occurrence of cough, shortness of chest and breath tightening and wheezing. The asthma should not affect your sleep or disturb your school or work schedule. Despite your condition, you should still be able to participate to physical activities. If you had stayed in a hospital or visited an emergency, the reason should not be asthma related. Lastly, if you are taking an asthma medication, this should take effect without adverse side effects.

Tags: life insurance

Reader’s Question:

What options do I have for life insurance coverage here in Miami, Florida if I am the type who smokes regularly?

Cindy

Miami, FL

You would still have about the same life insurance options there in Miami, Florida as would a non-smoker, the only real (and big) difference would be the amount of life insurance premiums you will be charged for being a regular smoker. Life insurance companies typically charge three, even four times, higher premiums for someone who smokes. Someone categorized as a “non-smoker” (not having used nicotine products for the last three years) can get a policy with a face value of $500,000 and only pay around $23 - $35 monthly on average, while a smoker would have around $60 to $80 for premiums just to get the same level of coverage.

 You could choose to get a No-Exam or Guaranteed Acceptance life insurance coverage but these tend to be more expensive since there is no medical data or information to determine how long you will live, hence you are automatically tagged as a high-risk customer.

Some people do tend to pretend that they are non-smokers to get a better rate and you may even pass the medical exam if you have not smoked for the past 72 hours prior to taking the test. If you chose to do the same, just remember that you have a legal contract with the life insurance company and if you death is related to your smoking then they may opt not to grant your death benefits.

Tags: life insurance questions, smokers life insurance, life insurance advise, term life insurance

Would Obesity affect how one pays for Life Insurance here in Miami, Florida?

Romeo

Miami, FL

This is a very good question. And a very relevant one considering that there are over 120 million American’s today who are considered to be either overweight or obese. Obesity, or being excessively overweight, just like smoking and other health-threatening habits or conditions, can definitely cause your life insurance rates there in Miami, Florida to get bloated (no pun intended). Life insurance companies take into account factors that can shorten your lifespan or cause premature death. This determines how much of a risk you pose to them in terms of life insurance coverage, in other words, if they have a bigger risk of paying your death benefits which will cost them a lot of money. The more likely that your untimely death is brought upon by complications such as diabetes or a heart attack, the higher you’re life insurance premiums become as well.

You can actually run some quote checks through a number of life insurance portals on the web who requires you to supply height and weight data, (the system calculates your BMI or Body Mass Index) notice how significantly bigger premiums are for those whose BMI’s is considered overweight.

Knowing that your weight greatly influences your life insurance costs is one step in avoiding huge life insurance premiums. To those people who see the glass as half full, the significant savings you can get towards your life insurance premiums by slimming down and advocating a healthier lifestyle can be a great motivation.

Tags: obesity life insurance, high-risk life insurance, life insurance, advise

Hi I’m Jane. I have 2 questions for you. I would like to know what would happen if I missed any payment period with my life insurance? My friend is planning to purchase another life insurance aside from the one that she already has. Is that possible in Florida?

Rey

Miami FL

Most ZFlorida life insurance policies provide a one-month grace period if you fail to pay your premium on time. Depending on the reason for not paying the premium, there will be no added interest if you pay your premium within the time frame. Otherwise, your insurance policy will lapse.

If you have a Florida life insurance and fail to pay your premium on time, the money will be deducted from your cash value to pay the premium. This in turn lowers your cash value. If the reason for timely premium payment is due to disability, you may add a “waiver of premium” provision so that you don’t have to pay the premiums for the policy duration.

Your friend can purchase another life insurance policy if she already has one. Your friend should take note that if she buys more than what she needs, she will be required by the insurance company to take the medical exam or a proof that your friend does not have an outstanding medical condition.

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I’ll be leaving Miami Florida next week for a convention. I need to get life insurance but can’t afford to take the medical exam and wait for the results. Is there a way to skip these medical examinations?

Kacie

Miami, FL

Hello, Kacie! I have a friend named Kacie too but it stands for Kristina Cassandra. I wonder if yours stand for something else? Anyway you are obviously in a hurry and have no time for small talk. Since you are in a hurry, you might want to consider getting no exam life insurance which does just that – no exams. This will be offered by many insurers in Miami Florida and you just have to choose among them. If you have no idea whatsoever on who these insurers are, please supply your zip code on the blank space on this page to view five proposals from five different Miami Florida insurance companies.

You can opt to choose among them or you can run the survey again. No exam life insurance is perfect for people like you who are on the go (literally!) and have no time to spare but needs to get life insurance. Just be forewarned, though, that it will have different premiums from ordinary life insurance and will most probably be higher because of the high risk associated with it.

Medical exams are administered by insurance companies to determine an applicant’s health and medical condition and without this, they are actually taking higher risks than normal and so they tend to charge extra. But it is still a small price to pay, considering it has enabled you to purchase a life insurance without medical exams, which would have been unheard of in the past.

Tags: cheapest life insurance, life insurance leads, life insurance online, life insurance options, no exam life insurance

I am on my way to the airport but remembered that I should have been working on getting life insurance in Miami Florida FL. Where can I get instant life insurance?

Gracelyn

Miami, FL

Hello, Gracelyn, and safe trip to you, whether you are going on a vacation or a business trip.

You don’t have to postpone your trip, or go back to your office just to get life insurance in Miami Florida. All you have to do is enter your zip code at the blank space you see on this page to get instant life insurance quotes from five insurers in Miami Florida and you can either finalize your policy when you get back or even while you are away. Insurance companies have now devised a way for applicants to get life insurance in a manner that is most convenient for them. So if you really need to get life insurance now, you can do so online by filling up the application and finalizing everything online.

You don’t even have to take a medical examination for this, and simply declare everything about your heath condition. Because of the convenience this gives you, Gracelyn, you can expect to be charged extra and indeed, premiums for instant life insurance are higher than ordinary life insurance but it enables you to do more things and saves you the hassle of having to drop off at your insurer’s office in Miami Florida.

Tags: instant life insurance, life insurance online, life insurance quotes, life insurance rates, no exam life insurance

What if I want to add or delete something after I’ve agreed to a life insurance package, will I already be charged by my insurer in Miami Florida?

Angel

Miami, FL

Angel, I am happy to say that insurers in Miami Florida and in the country are not that ruthless! Perhaps you’ve heard some stories before that made you wary? But like I always say, it is better to ask around than miss something, right?

So, Angel, I am happy to inform you that you can most definitely do certain changes to your policy even after you have finalized it. This is called the “free look” period and it usually lasts from ten to thirty days after you have finalized your policy. During this time, you should read every letter, comma and period in your policy, to determine if everything is satisfactory to you. This is also the time for you to change some conditions, upgrade your death benefit, and practically anything else, without being fined by your insurer in Miami Florida.

Did you forget to include somebody as your beneficiary (how could you!)? If your answer is yes, Angel, then this is the perfect time to do it. Just bear in mind that although you will not be fined by your insurer, your policy may not be the same again, in terms of costs. If you add or delete or change anything, it will automatically affect the price of your life insurance policy. To simulate how much your new life insurance policy costs, you can use the tool provided for you on this page. Just type in your zip code and answer the several questions following that initial step for you to get some quotes, free!

Tags: cheap life insurance, cheapest life insurance, life insurance online, life insurance quotes, life insurance rates

My mother, perhaps having exhausted all her arguments on why I should stop smoking, told me that I’ll get higher premiums when I apply for life insurance in Miami Florida FL. She’s exaggerating, right?

Jana

Miami, FL

I hate to burst your bubble, Jana, but your mother is actually correct. Smokers in general are charged with higher premiums or fees when they apply for life insurance in Miami Florida FL, and I believe in the other parts of the world as well. It has been proven by many research and studies that smoking actually causes many diseases and actually results to shorter life spans over the years. Life insurance companies in Miami Florida FL will definitely label this as a high risk and collectively, the insurance industry has come up with a specific life insurance for smokers called the smoker life insurance.

The good thing about this smoker life insurance is, while its premiums will still be considerably higher than ordinary life insurance, the difference has certainly reduced over the years. When in the past smokers had to pay double or triple premiums for life insurance, this is no longer true nowadays.

What you can do, Jana, is check for yourself if you do not believe your mother and me. Using the online shopping tool provided for you on this page, you can compare proposals for life insurance and smoker life insurance. To do this, you need to run the tool twice, first posing as a non-smoker and then next posing as a smoker. Maintain everything else the same and change only this fact, and see for yourself if a smoker life insurance policy is indeed more expensive than a regular life insurance policy. Oh, and by the way, it will start when you enter your zip code on the space bar.

Tags: cheap smoker insurance, life insurance leads, smoker life insurance