Hollywood Florida smokers life insurance
Reader question:
I right now have a term Hollywood Florida smokers life insurance policy. Since I haven’t smoker for a few years, I was thinking of getting a different policy, and universal looked interesting. Can you tell me something about it?
Max
Good question, Max.
First of all, before you change your Hollywood Florida smokers life insurance policy, remember that, since you previously were a smoker, ir will take five years for you to be able to get preferred rates at any company with any policy, and at least three years for you to be able to get the standard life insurance rates.
Now, as for your question. If you switch from your Hollywood Florida smokers life insurance policy to a universal life policy, then you will gain a lot of flexibility. There is a minimum amount that must be paid so that you can keep your policy in effect, but essentially you can pay however much you want and whenever you want. You can also change the size of your death benefit. You can choose to add more insurance, and the only requirement will be that you undergo another physical.
Universal’s flexibility can get confusing though, so look three times at least so that you are paying for what you intend to be paying for.
take care,
Fashun