Life Insurance for a Smoker

Finding life insurance for a smoker can be a bit of a frustrating process. When you shop for a life insurance policy, you will quickly learn that providers are going to be searching for a type of customer that is going to fit some very specific criteria, and it is important that you do your best to fit their standards. The individual life policy that you purchase is going to be paying for a lot of the financial needs of your loved ones following your passing, and you will want to find a great plan. However, you will also be putting a lot of money into your plan, and it is important that you learn about what insurers are looking for in order to get the lowest prices. If you are a smoker, you may find that it is difficult to get the premiums that you want.

Why You Need Coverage

Before we talk about the effect that smoking may have on your rates and how to get life insurance for a smoker, we will briefly go over the importance of this kind of coverage. You see, a death can be a very expensive event. When someone passes away, they often leave a lot of costs behind for their loved ones. Estate taxes, final expenses, debt, lost income and a number of other expenses may all be part of the financial pressure that your family will face following your death. The right life insurance plan will cover these costs and make it much easier for your family to cope with their loss.

Because life insurance is so important, it is essential that you locate a plan that will give you the right amount of overall protection but will still come with the prices that you can afford. This is where buying life insurance for a smoker can become a bit difficult. In the following paragraphs we will outline some things that you should know if you are a smoker and looking for a new policy.

Smoking and Your Policy

Smoking is a habit that has been proven to be detrimental to your health. Smoking cigarettes, cigars or using chewing tobacco can all lead to health problems like cancer and increased blood pressure. These kinds of problems are going to scare insurers as they put you at a higher risk of dying. For that reason, it is going to be harder to get cheap coverage when you are looking for life insurance for a smoker. Insurers are doing all that they can to hedge their bets, and they will have to charge more when they are insuring a smoker that is at a higher risk of death.

You may wonder what exactly is going to label you as a smoker when you are looking for a new life insurance policy. As we noted earlier, any form of tobacco use can put you into an unfavorable category. If you only smoke the occasional cigar, you may be able to escape this kind of label. However, your application will typically ask when was the last time that you used tobacco or if you have used it in the last 12 months. If you answer yes to this question, there is a good chance that you will have to purchase life insurance for a smoker.

Some people who find themselves facing the high costs of life insurance for a smoker may be tempted to lie during their medical screening and on their life insurance application. While you may be able to convince the insurer that you are not a smoker, fraud is a pretty serious mistake to make. If you are caught committing this kind of fraud, you may lose all of your benefits or face fines and legal penalties. The best decision is to be as honest as possible if you are a smoker.

Others may decide to quit smoking or using tobacco before applying for life insurance protection. If you go a certain amount of time without smoking, you may be able to avoid the higher premiums charged for life insurance for a smoker. However, applicants will typically have to go at least twelve months in order to be removed from this category, and that may change from provider to provider.

If you smoke and you are looking for life insurance for a smoker, you will want to do some comparisons. Each company that offers coverage is going to have their own rates, and comparing options can help you find the most competitive companies and policies. When you make these comparisons, you stand a much better chance of getting the life insurance for a smoker prices that you need to save money and still protect the needs of your family.

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