Long Insurance Services of Kernersville, NC
Contact : 336-992-5664
Life insurance, by its very nature, is deeply personal. It transforms the vulnerable into the secure.
It can also leave you wondering – how does that all work, anyway?
Keep reading for answers to a few curious questions you’ve probably wondered about life insurance… but were too afraid to ask.
A: In many cases, yes – but expect to answer some questions and (probably) pay a little extra to account for the additional risk.
Before giving you a quote, your local insurance agent may ask you to fill out a written questionnaire to understand more about your hobby. At ERIE, that includes hobbies such as:
The questionnaire will ask you some basic information to understand your hobby. This could include:
It’s important to be honest when filling out your questionnaire. If you fudge the details in an attempt to seem less risky… that could be grounds for denying a claim later on. Your completed questionnaire is sent to the life insurance underwriter, who determines the scope of the risk – and ultimately helps calculate the rate you’ll pay.
For example: Let’s say you’re into rock climbing. Does that mean you climb indoors with friends once in a while at the local gym? Or are you planning a trip to the Himalayas to go ice climbing alone? Similarly, if you have a private pilot license – are you taking occasional short trips for business? Or are you regularly stunt flying in air shows on the weekends?
You get the idea… it’s all about calculating that risk.
A: First things first: Good for you!
As for your life insurance: Generally speaking, yes – you can ask your local agent to get your existing policy re-rated. Before you do, though, you’ll likely have to show some stability in those lifestyle changes for a year or two to prove that you’re in this for the long haul.
What happens next may differ, depending on the circumstances. (Your agent can explain the specifics as they pertain to you.)
If you quit smoking because you’re just ready to live a healthier lifestyle – great! With no complications, you could get bumped from the “smoker “to the “nonsmoker” rate classification (and likely save some money in the process).
But, if you quit for a medical reason – such as a diagnosis of COPD or lung cancer – that’s a health concern that could impact the cost savings you’d otherwise see from quitting smoking. Your agent will ask you to fill out a questionnaire to get the specifics on why and how you quit.
Similar to the smoking example above, expect some follow-up questions about your weight loss. For example: “How and why did you lose the weight?” There are risks that come with weight loss surgeries, such as gastric bypass or lap band surgeries. Similarly, if you dropped a bunch of weight without even trying to… that could be the sign of a worrisome chronic illness or depression. If you start or stop taking certain medications because of your weight loss, that could also affect your rate.
If your weight loss is the product of good ol’ fashioned discipline, diet and exercise: Once you show you can keep it off (and provide any necessary test results and information), you could get bumped to a more favorable rate class.
Remember, insurance rates are all about data and probability. When it comes to weight loss, most carriers will add at least 50% of the weight back when they calculate your new rate. Why? Statistically speaking, if you drop a bunch of weight, studies show you’re likely to gain at least some of it back.
Ask your ERIE agent about re-rating your policy if or when your circumstances change.
Have a weird or embarrassing insurance question? Don’t be shy: Our local agents are licensed professionals – they’re not here to judge.
Read about ERIE’s life insurance offerings or check out these related blog posts:
We provide Property, Casualty and Life insurance for personal and commercial needs.
Individual: Home, Auto, Life, etc. … Business, Prop., Casualty, WC, etc.
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It’s estimated that $1 billion in benefits from forgotten and lost life insurance policies are sitting unclaimed in America, says Consumer Reports. Could you be among the estimated 1 in 600 people who may be the beneficiary of an unclaimed life insurance policy?
If so, there are ways to find out. Here are some tips to help.
You might also have to contact any attorneys, financial advisers, accountants or other advisers who might have had something to do with issuing the policy.
Also consider contacting the deceased individual’s former employer. Many times the policies are group policies that were originally taken out through an employer.
If the policyholder passed away relatively recently and you have the authority or permission, take a look at the deceased person’s bank statements for premium payments or policy-related material.
Submit a request or read the FAQ at the Life Insurance Policy Locator Service website. You can also check in with the National Association of Unclaimed Property Administrators, which operates the website MissingMoney.com.
Life insurance is a powerful agent of relief. Taking care of the future needs of your loved ones makes you feel capable, purposeful and satisfied.
Spare yourself and your beneficiaries from the hassle caused by a lost life insurance policy by following this advice:
When you count on ERIE to help plan for the future, we’ll help you consider the variables, lay out the options and make the process comfortable and efficient.
Learn more about our flexible and affordable life insurance* options, or find a local ERIE agent to talk it through in person.
Looking outside and seeing snow-covered roads can make the decision to stay in bed a lot more tempting. We all know winter weather can get you in a rut – but there are plenty of ways to liven up when you’ve got cabin fever. (Read our list of 21 ways to beat cabin fever.)
Ready to break a sweat? Check out this list.
HOW TO EXERCISE DURING WINTER
One of the best ways to beat the boredom and stay active is to get outside. So, don’t curse the weather… bundle up and enjoy it! Here are some outside winter fitness ideas to try.
Of course, there are still going to be times when the snow’s thick and the air’s chilly. If you’re stuck inside, there’s no need to worry! Here are some ways to keep active indoors, too.
As the seasons change, your options for staying active do, too – whether it’s a walk through the snow, gliding on an ice rink or other activities that only last for the season.
There’s no denying it: Winter is on its way.
Winterizing your home can help lower your energy bills, prevent bigger more costly repairs later on, and reduce the risk of accidents like a home heating fire. (Side note: That’s why having the right homeowners insurance can give you peace of mind, too.)
Ready? Let’s walk through the big list of projects to tackle this fall.
Related: How to prevent a dryer fire
Related: How to remove an ice dam
Does your homeowners insurance keep up with your life?
From weekend projects to major renovations… you’ve worked hard (and invested a lot) to make your house a home.