Life insurance coverage for smokers is an important topic and we got tons of requests for quotes from smokers, some of which are looking for cigar smokers life insurance. Cigar smokers life insurance can differ from a typical smoker life insurance policy, and it is important to know what factors life insurance companies will consider. If you are a cigar aficionado or someone who casually enjoys a cigar during special occasions you need to know how and if smoking cigars will impact your application for life insurance. Most cigar smokers do not consider themselves in the same risk class as someone who habitually smokes cigarettes, but not all insurance companies will agree with them.
When you apply for life insurance, the life insurance company will weigh out several factors such as your medical history, family history, height and weight, hobbies, and lifestyle choices. One of the lifestyle choices the life insurance companies will ask about is whether you smoke or not. For smokers, it can be very tempting to side step the truth when answering this question because the ramifications it will have on your life insurance premium. I would advise anyone applying for life insurance to tell the truth on the application, and I have personally seen people be declined for lying on an application.
When the insurance company asks if you smoke or use tobacco products, they are not just referring to cigarettes, but to all forms of tobacco such as cigars.
Most cigar smokers are not aware smoking a cigar is considered as risky to your overall health as smoking an entire pack of cigarettes. This obviously poses a health risk to the smoker, and can decrease the life expectancy of the person. Cigar smoking on a regular basis can cause lung disorders such as COPD and also cancer. When life insurance companies determine a premium for someone to pay they basically attempt to calculate how long you are going to live. When the see someone partakes in an activity which would reduce their life insurance expectancy they are going to charge them a higher premium, because you are a higher risk to be insured.
Smoking cigars will not alone disqualify you from obtaining affordable life insurance coverage. Cigar smokers have the same life insurance coverage options as non-smokers, but it is extremely important you work with an independent life insurance agent who has access to the right companies for cigar smokers. Most (but not all) life insurance companies will give you a smoker life insurance rating, doubling your premiums from a non-smoker rating. It is completely possible to obtain non-smoker life insurance rates as a cigar smoker, but you need to go about it the right way.
When you work with Waterway Financial Group, in obtaining cigar smoker life insurance, we shop your rate around all of the major life insurance carriers, and are generally able to get you a non-smoker rating with one particular life insurance company. Even if you smoke a cigar more than once a week, we can still get you non-smoker ratings through this one particular life insurance company. This is why it is important to work with an independent life insurance agent, who not only has access to the right companies, but also has experience working with cigar smokers life insurance.
If you are a cigar smoker who is looking to apply for life insurance, or if you are still paying smoker ratings as a cigar smoker, give us a call to discuss what options are available.