5 Embarrassing Life Insurance Questions

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Getting life insurance is a significant event, and it is better to understand all the cornerstones. However, sometimes we are just a little bit too embarrassed to ask some questions, especially personal ones. Life insurance companies tend to ask questions that by some can be considered very personal, for example weight, drug abuse, a beneficiary of the life insurance in the case of a client’s death… We prepared some five common and important questions and answers to them, that you might not be willing to ask.

1. Do I weight too much to qualify for life insurance? 

     The chances are you are fine. You may want to look at BMI (Body-Mass Index) to know if you are considered overweight, but you still can get good rates from many life insurance companies. You will need to look into it, as some might be very strict, and some might not have any limits at all. Either way, even if you apply for a coverage and then loose weight, you often contact back the life insurance company and ask them to adjust the rates. 

2. Am I too old? 

     The answer is that when you are young and healthy, the rates will be low. The older you get, the higher life insurance fees you will be charged. There might be some limits for people who are 70 or 75 years old, but at any age smaller life insurance can be bought to cover burial or similar final expenses. 

3. Do I qualify if I smoke weed? 

   

     You can qualify if you smoke weed, but there are different conditions that vary from one firm to another. The main point is that you need to admit that you use it and state how often you do that. Then you can get coverage. In case you lie, and your life insurance company discovers you did that after getting the medical tests submitted, they will be more than likely to refuse. Good news, that if you smoke pot a couple of times a month for recreational purposes or smoke it often but have a prescription, then you can qualify for non-smoker rates. It can vary among firms, so you may need to do some research beforehand. 

     Furthermore, the information you submit to a life insurance company is private under the federal Health Insurance Portability and Accountability Act, so that would be illegal for the firm to disclose the information about your pot consumptions. Almost nothing to worry about. 

4. Can I apply for non-smoker rates if I smoke occasionally? 

     

 Again, largely depends on a company you go to. Many are very strict about smoking, although, certainly there are some that are quite lenient. Do your homework before you apply. 

5. Can I chose who I can leave my money to? 

Yes. A person who is being insured has the right to choose who they can give there money to after they pass away. It doesn’t have to be a spouse, as it usually otherwise happens. Although, again there is a catch. In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), a spouse might have a right to share the money if the insurance was bought with funds earned during the marriage. You may want to check out the rules with local attorneys, in case you want to forward the money to someone other than your spouse.

After all, many of these questions are not embarrassing at all. Especially when you understand the importance and difference they can make. Just pick up your phone and start calling, to figure everything out.