The Effect of Stopping Smoking on Life Insurance Rates

The effect of stopping smoking on life insurance rates can vary for many different reasons. If you are a smoker, you are probably wondering how this will effect the rates that you will receive on your life insurance policy. You have probably heard that the rates are much higher if you smoke. Some companies might even deny you coverage if you have a long history of smoking because of all of the diseases that are linked with an individual's smoking habits. It goes without saying that tobacco in any form is very dangerous to your health and can lead to terminal illnesses. Taking the steps to quit this bad habit will not only be good for your life insurance rates, it will be great for your health as well.

The earlier you quit smoking the quicker you will be eligible for non-smokers life insurance rates and the more likely you are to stay in good health. However, you will be required to prove that you are no longer a smoker by many life insurance companies to be able to receive life insurance with great terms. Some agencies will ask you to provide a sample of your saliva that they can test for nicotine, if nicotine is detected you will have to pay the rates of a smoker. Keep this in mind as you go for your insurance company's medical examine. Even nicotine patches will show up on the test so, it is important to be completely nicotine free when you have this test done.

Even if you are currently receiving the smoker's rates for life insurance, or you have in the past, that does not mean that you will not be able to bring down your rates by quitting in the future. Again, a simple test will be needed to prove that you are no longer a smoker and if you pass, you will receive lower rates on your policy. Some insurance companies require that you have stopped smoking for a certain period of time, usually more than six months. So, the sooner you quit, the better.

However, depending on how long you have smoked in the past, you may already have some pre-existing medical conditions due to your smoking habits. If you were not covered by life insurance previously to being diagnosed with a tobacco induced disease, a new life insurance company or policy may deny you coverage due to this illness. This is why it is important to stop smoking as soon as possible; your health is much more important that a change in life insurance rates.

Once you have Quit

If you have quit and you have no suffered from any chronic illnesses due to your tobacco use, you should definite reevaluate your life insurance policy with an agency consultant as soon as possible. You may even be eligible for a new, much more affordable policy because you are taking steps to maintain a healthier lifestyle. Being healthier means that you will feel better and be able to save money on your life insurance policy. After considering all of the benefits, you will be hard pressed to find a reason to not quit smoking, immediately.

When you begin to look into how much savings you will have when you quit smoking, you may realize that there are other ways to participate in a healthy lifestyle that could possible lower your life insurance rates even more. It is important to investigate all of the possibilities within your policy and look into other policies as well. Speaking with your life insurance consultant is a good way to gather ideas of ways to save on your life insurance.

Free, no-obligation quotes from multiple companies

Your information is safe and secure

"Thanks for making it so easy!" - Marlene Q, Austin TX