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Rated Premium Insurance is based on the information provided by the customer, and the policy will consider many risk factors. If you are a smoker then the average premiums rate at "65% higher" risk. The statistics have shown that people who do not smoke often live healthier lifestyles and rarely die of cancer. Today, the statistics are finding new information, since many people today are dying of cancer and do not smoke, however, the probability of risk is exceptional to smokers.

The definition of smoker at ALL insurance companies is, "A person, who used, smoked or otherwise consumed any kind of tobacco products during the previous 12 months." Thus, few companies have different timeframes, but this is the common definition. If you have not used any tobacco products over the timeframe defined in the policy, then your premiums are often lower. Thus, when consider life insurance you will need to know the term you want to be covered since this is a common factor by most insurance agencies. You must also consider critical illnesses, and if you expect to undergo some form of illness that will deteriorate your health. If you smoke, then you must consider this option more so than ever, since the risks are higher. You will also need to consider whether your drink alcohol, your weight, age, job status, smoke, and other areas to provide the insurance agency since the company will consider the answers.

Other factors that insurance consider when offering quotes is age. If you are older than 67 then your premiums are higher often and you are offered the Rated Premium Policy. In addition, if you rarely exercise or do not exercise at all then you probably will receive the Rated Premium rates. Furthermore, if you live an unruly lifestyle, such as engaging in dangerous sports, smoking, or drinking alcohol obsessively then you are a high-risk candidate that most likely will pay higher premiums. Each year you grow with your policy the company will consider age factor. Thus, if your age and health change during the policy you may pay higher premiums. In addition, if you work at a job that poses risk factors then you will probably receive the Rated Premiums. For the most part, statistics show that "88%" of the clients applying for life insurance receive the common quotes.

If you have Rated Premium coverage and planning to retire, you may want to consider lower your coverage. There are several factors to consider on retirement coverage, including premium rates. Many insurance companies' will continue your plan, but if you have, higher risks involved than when you took out the policy, your premiums again most likely will increase. Furthermore, if you have life insurance policy and own a home, without coverage for mortgage then you may want to consider purchasing mortgage and life insurance coverage. We can't predict death, but we can certainly provide a measure of security for our loved ones. Life insurance policies are the term of life you expect to live. Thus, if you do not have adequate coverage and die then your loved ones are out of money, since they will pay the burial expenses and mortgage if you owe on your home. Other policies including Critical Illness can be of benefit, since these policies will coverage illnesses, mortgage, credit cards, and other debts that incur as a result of your illness.

You may want to note if you decide to retire and cancel your insurance policy you are expected to wait 12 months before re-applying. Canceling the policy may not be in your best interest, especially if you don't have money saved for burial expenses and mortgage payoffs. In addition, if you have a family you want to provide cover for them as well, but the Joint Policies are often more expensive than the Single Policies, therefore, consider the discounts you will receive on Single Policy Coverage. Finally, if you do not fall under the Rated Premium category, then your rates and premiums are the common rates with the exception that you have mortgage. If you need mortgage coverage, expect to pay higher premiums and rates, since capital and burial combined is expensive to payoff.