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Life insurance premium increase (1 Viewer)
- Thread starter DaVinci
- Start date
GroveDiesel
Footballguy
Not saying this was it at all, but it did bring up an interesting question in my head.
I wonder if life insurance companies ever do any social media searches on people and adjust their premiums accordingly. Like if you post a bunch of stuff about not wearing masks on Facebook during the middle of Covid, could your insurance company jack your rates way up because you’re engaging in risky behavior?
I wonder if life insurance companies ever do any social media searches on people and adjust their premiums accordingly. Like if you post a bunch of stuff about not wearing masks on Facebook during the middle of Covid, could your insurance company jack your rates way up because you’re engaging in risky behavior?
DaVinci
FairTaxguy
heckmanm
Footballguy
DaVinci
FairTaxguy
heckmanm
Footballguy
Yeah, if you got the first one in your mid-20s I'd imagine a big jump. Although that seems really big. Although if it's another 20-year term, then it has to account for your mortality expectations into your mid-60s.
(I work in IT for a life/annuity company so I know a *little* bit, about how this stuff works, but very little as I'm not involved at all in that side of things)
belljr
Footballguy
-OZ-
Footballguy
Got a letter from my life insurance company last week telling me that my premium will be increasing from $90 per quarter to $864 per quarter.
I guess they caught on that I’m no longer in my mid-20s.
I get that the company may have phrased it as an increase to your policy, but you basically started a new policy as your previous one ran out.
It might be worth shopping around, depending on your health conditions. I started a 30 year term at age 40 for $252 / quarter. $750k, so yours might be a lot higher.
