Dear Cheryl&Mack,
I was in the airport the other day, and I had this realization that if I didn’t come home from my work trip, I’d leave my family with emotional and physical pain but also financial pain.
Could you give me an idea of how much life insurance would be on me? I’m a 35 year old male, smoker and would like a million dollars worth of coverage.
Thank you!
Signed,
Need Coverage
Dear Need Coverage,
Given your age, gender, and desired coverage amount of one million dollars, I can provide you with a rough estimate of the cost.
However, I must note that being a smoker typically results in higher premiums compared to non-smokers due to the increased health risks associated with smoking.
I’d recommend a term policy, either term 20 or term 30.
Term 20, $1,000,000 - $150/month
Term 30, $1,000,000 - $260/month
It's essential to keep in mind that these are rough guess! estimates, and actual premiums can vary based on factors such as your overall health, medical history, lifestyle habits, and family medical background.
If you were to stop smoking, you would be able to reapply after one full year of your last cigarette for cheaper coverage.
Investing in life insurance is a crucial step in providing financial security and peace of mind for your loved ones.
Reach out for a more accurate quote.
Good Luck!