I saw this headline the other day and thought I better pass this along if you haven’t heard. Life insurance is getting costlier for men 55 and older who smoke. That demographic saw the biggest increases for life insurance policies from September to October, with average premiums rising between $6.12 and $12.56 a month. The prices are based on actuarial rate tables for 11 life insurance carriers. The article basically said that smokers and older folks face a higher risk with Covid, and that’s why rates increased. They also said that overall pricing hasn’t increased much for all demographics with the pandemic but they are “navigating” an unprecedented situation and time will tell. I am a former smoker, so there's no judgement here, but if you can stop smoking there's many benefits and better rates on insurance would be one of them. If you have questions go to the website yoursafemoneyshow.com.
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