A large number of employees in Australia have Life Insurance. You may have it and not realise it as many superannuation packages include a life insurance plan and the cost of this plan is automatically deducted from your Superannuation balance.
What you also might not know is that your insurance may have been setup with all the default parameters, especially if your super was setup for you by your employer. These parameters ultimately play a part in defining the premium charged to you each month and one of these parameters is whether you are a smoker. Non-smokers are likely to live longer and as such life insurance for non-smokers can be cheaper.
If you are a non-smoker with life insurance, check with your insurer if they know you are a non-smoker. You could be saving some of your super.
I am agree that most of the insurance companies do not like to make a insurance policy for smoker. Some of them increase the premium rate for life insurance of smoker. Its better to quite smoking before taking any retirement plan.
ReplyDeleteIf you have been injured due to someone's negligence ,it would best to mind all your actions because some insurance companies will do anything to save the money from compensating your injury. Best to always sought the best ones in town.
ReplyDeleteI would also like to note that in health insurance plans if you are a non-smoker and have no underlying diseases in your family you can get huge discounts.
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ReplyDeleteA good technique if you are a smoker now is to file for a smoking cessation discount. If you promise the insurer that you will stop smoking they will give you this discount.
ReplyDeleteIt's probably a good idea to quit smoking if you're planning to retire. I'm glad you shared this valuable information to us.
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What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.
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