Smoker Life Insurance : Cigarettes

We receive calls each week from people who smoke and are looking for smoker life insurance policies. One of the toughest challenges for smokers is finding affordable smoker life insurance coverage. This post is meant to describe how life insurance companies view smoking and ways to ensure you can find affordable life insurance coverage as a smoker. There are different types of products which will give someone a smoker life insurance rating, but this specific article will discuss the impact of cigarettes on obtaining life insurance protection.

Why Is Smoker Life Insurance More Expensive?

When we speak with a potential client and give them a smoker life insurance quote, one of the first questions we are asked is;

Why do I have to pay higher life insurance rates?

Life insurance companies look at a variety of different factors such as medical history, risky hobbies, and risky activities to your health such as smoking. Life insurance is priced based upon the risk the individual poses to the insurance company, aka the risk of the insured not making it to life expectancy and costing the life insurance company money. One of the ways the life insurance company makes up in the difference in the risk they are taking on is to charge you a higher life insurance premium. Someone who is healthy and does not participate in any risky activities they will pay a lower premium than someone who has a history of  health issues or participates in risky activities and smokes.

Smoker Life Expectancy And Life Insurance

According to the Centers for Disease Control and Prevention, tobacco use is the leading preventable cause of death in the United States. The CDC also reports life expectancy for smokers is at least 10 years shorter than for nonsmokers. Their are plenty of other statistics which show the risk which smoking poses to people, but long story short they all pose a risk to the insurance company.

All of these factors force the life insurance companies to charge higher smoker life insurance rates, which are typically close to double the rate a non-smoker would pay. Although as a smoker you will pay a higher premium, it is still possible to find a life insurance policy which will fit into your family or business budget. One of the keys to finding an affordable policy as a cigarette smoker is to work with an independent life insurance agent who can shop your information to the major life insurance companies and find you the best policy for your personal situation. Some life insurance companies will look at your health, and smoking habits differently, and it is important to be put your application in with the correct company, which is where an independent agent can help.

Quitting Smoking And Life Insurance

Once people see their smoker life insurance rates, they often ask us how their life insurance premiums would be impacted if they quit smoking. If a client is to quit smoking, and remains smoke free for over a year, they should be able to apply for a rate reconsideration. The insurance company can give you an oral swab which is used to check for nicotine. If the test checks out for no nicotine you can receive the non-smoker rating and lower your insurance premium.

Unfortunately, some people want to put off getting life insurance until they quit smoking. Anyone who has tried to quit can attest to the challenge it is, and many people unfortunately fail to quit. This leaves their family unprotected with life insurance, and a potential financial disaster in the event a tragedy were to occur. The best option is to obtain affordable smoker life insurance coverage, and then set a goal to quit smoking (if you choose to), and we will help you apply for a rate reduction. Saving money on your premiums can act as one of the many financial incentives to quitting smoking.

Whether you are a smoker who doesn’t plan to quit, a smoker who is trying to quit, or someone who has been smoke free for years we will be able to build a life insurance plan which will fit into your budget. You can get a quote through our site, and get a personalize smoker life insurance quote.

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