Approximately 25 years ago, insurers came to the blinding realization that non-smokers live longer than smokers. Non-smokers welcomed this revelation, especially when they found they could be saving piles of money in insurance costs.
Today, we are experiencing further improvements through “Preferred Class Underwriting.” Many people started asking questions like “If I exercise regularly and/or don’t drink too much alcohol and/or have never smoked in my lifetime and/or have a history of longevity in my family and/or have a clean bill of health, etc. then why on earth should my insurance premiums not be reduced accordingly? I’ve had clients who have absolutely been floored by the amount of money they were leaving on the table by not taking advantage of these offers.
Solution: Review the medical qualifications that are required for “preferred class underwriting” with a professional insurance advisor. Look for a Chartered Life Underwriter (CLU) who has a commitment to designing the best risk management solutions and thoroughly searching the market for you.
Now that you know the 10 most common and expensive insurance planning mistakes, contact us to talk to an advisor.
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