Life Insurance For Smokers

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The Consumer Federation for America confirms that a smoker pays double the amount for life insurance that a non-smoker does. Life insurance for smokers thus is not easily affordable. Or can we say that smoking is itself more expensive than the price of just cigarettes. It just doesn’t ruin your body but also pinches your pocket. There is a ray for hope if you are otherwise healthy, though. This is because the insurers do reduce the amount a bit for those who are smokers yet otherwise healthy.

How To Get The Best Deals On Life Insurance For Smokers

To get the best possible deal for yourself in the aforementioned condition, you need to tell the company of your good health apart from smoking. In life insurance for smokers there is a distinction between the standard and the preferred tobacco users. You could be in the category of the preferred tobacco user if you have low cholesterol, a normal blood pressure, and other healthy numbers. You can’t simply cheat the company about your tobacco usage. This is because every company, while dishing out a life insurance policy, checks the level of cotidine, the by-product of nicotine, in your saliva and urine.

Buying Life Insurance for Smokers

The denial of one’s smoking history stems from the sheer price difference in the policies of smokers and non-smokers. However, if you get away with the test and lie about the fact that you smoke, then it could be your loved ones who could be in trouble at a later stage. This is because your smoking history could come to light after your death and the insurer may simply refuse to pay the claim. Paying extra for the life insurance of smokers is the right thing to do if you smoke.

People are confused whether to tell of their smoking history if it is very light tobacco that they take. It is advised by experts that it is best to be up front about everything to your insurer. You have taken a right step toward taking life insurance, and there is no point in jeopardizing the future of your estate. If your smoking is restricted to an odd cigar at certain times during the year, then you could also get life insurance at the non-smokers rate, provided the test proves your word. For this, however, you will need to hunt around, since not every firm is ready to take such a case.

Options for People Who Want to Stop Smoking

If you are the person who wants to quit smoking, then look for life insurance for a smoker that has an option of reducing your rates after you have stayed off tobacco for a certain period of time; say a year to three years. Also, if you have quit smoking and your current policy doesn’t offer an adjustable to change your premium rates, then ask for a policy change. Companies often have the prerequisite that a person should have quit tobacco at least one year before he applies for non-smoker life insurance.

Consideration for Life Insurance for Smokers

One thing, however, that should be kept in mind is that the criteria of different companies with regard to life insurance for smokers are different. It should not be assumed that every company would consider you a smoker even if you have not smoked in the past year. The prime cause of smoker life insurance rates’ being very high is that smoking causes 87% of the cases of lung cancers. Lung cancer kills more people than a combination of prostrate, colon, and breast cancer combined.

Another mistake that most smokers make while seeking life insurance for smokers is in believing that the rates of the plan will be the same for me as for women. The rates offered for men are significantly different from those for women and should be checked before signing on the dotted line.

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