Can Smokers Get Life Insurance?

Smoking, chewing, or vaping tobacco can increase the cost of life insurance. Smokers can sometimes pay twice or more for life insurance than those who are not smokers.

Although life insurance can be more expensive for smokers, you still have the option to get life insurance. You may also be eligible for life insurance at a lower rate depending on your personal circumstances.

How smoking can affect your life insurance rates

The insurance company will conduct a complete medical exam when you apply for life insurance coverage. This is done to ensure that you get the best type of life insurance at a fair rate. Underwriting is the process by which your insurance company learns if you smoke or not.

You are more likely to get other health conditions from smoking, which can make it harder for you to live a healthy life. This makes you a greater risk for the life insurance company to cover and causes you to pay more for the same amount of coverage as non-smokers.

If you smoke, you will be considered a smoker for the purposes of your life insurance.

This means that even if you don’t use chewing tobacco, your life insurance rates will still be calculated as a smoker. It is important that you tell your life insurance company all about your tobacco use. By lying about it, the insurance company may withhold your death benefits from your beneficiaries.

Tobacco and smoking can increase your risk of developing many conditions that could lead to your health deteriorating. This can make it more difficult to get insurance. Smokers can be charged up to $2,000 for life insurance. Two or three times what a comparable policy costs for a non-smoker.

Other Factors that Change the Cost Of Smokers’ Life Insurance

Smoking can have a significant impact on your health, which is meaningful to life insurance companies. Your life insurance company will likely consider other factors when deciding how much life insurance you will pay for if you are a smoker.

These factors include:

Overall Health

Although you can smoke and be healthy, smoking can increase your risk of developing other health conditions that could reduce your life expectancy.

These are the conditions that can come from smoking:

• Increased chance of Cancer

• Increased risk of Heart disease

• Increased chance of having a Stroke

• Lung diseases

• Diabetes

• Chronic obstructive lung disease (COPD).

• Emphysema

• Tuberculosis

• Certain eye diseases

• Immune problems

These additional health problems are more common for those who are older and have smoked longer.

The life insurance company will review your medical records to determine if you smoke. They will also scrutinize your pre-qualifying medical screening.

Your premiums could be lower if you’re found to be in good health despite being a smoker. Your premiums may not be as high as those of someone with a similar medical history to you, but who is not a smoker.

You can also choose other lifestyle choices

Although smoking can have a significant impact on your overall health and lifestyle, it can also affect the amount of life insurance you purchase.

If you are considered overweight or obese and aren’t taking steps to get your health in check, it can cause your life insurance premiums to be higher. Your life insurance company may think you don’t care about your health and aren’t exercising enough.

What does quitting smoking have to do with the price of my life insurance?

You can reduce your premiums if you’re a smoker. There are some things that you should know before you quit smoking.

The best way to lower your life insurance premiums is to quit smoking.

You must quit smoking to be eligible for non-smoker premiums for life insurance. For a minimum of one year, before you apply for life insurance, You must have stopped smoking to get better rates like Preferred or Plus rates.

It is always a good idea not to smoke, but it’s best to stop smoking if you are unable to qualify for lower rates.

Waiting to purchase a policy until you get a lower rate puts your family at risk. Depending on your age, these few years could lead to an increase in your premiums. This could offset any reduction that you get from quitting smoking.

It is best to apply for life insurance right away, even if smoking has not stopped. After quitting smoking for at least one year, you may request a rate reconsideration in order to determine if you are eligible for lower premiums.

Are Life Insurance Policies for Smokers Worth It?

Life insurance for smokers can be more expensive than for non-smokers. Some people believe that buying life insurance is not worth it.

It’s always a good idea for your family to have life insurance. Smokers are more likely than non-smokers to develop a disease that can lead to premature death. This makes it even more important to have life insurance.

What can I do to reduce my life insurance costs as a smoker?

Many people wonder how to get the best price on life insurance.

Here are some important things you can do to find the best life insurance policy for smokers:

Stop Smoking

This is the best thing that you can do to reduce your life insurance premiums and improve your overall health.

You can be eligible for premiums that are similar to someone who has not smoked for at least one year if you have been a nonsmoker for at least one year. You may also be eligible for Preferred or Preferred Plus rates if you continue to be smoke-free for at least five years.

Smoking can cause your life insurance premiums up to three times higher than if it were stopped.

Maximum Coverage

You will pay more for life insurance if you smoke. This is why it’s important to carefully choose the coverage that you buy.

There are many factors that will determine the amount of coverage you buy.

• Financial obligations such as child support

• Your salary

• Your children’s ages

• No matter if you have a mortgage or any other debts that need to be paid

You can save money on your premiums by purchasing a smaller amount of life insurance. However, it will still provide financial security for your loved ones in the event you die.

Choosing to smoke after purchasing life insurance 

When you purchase life insurance the company factors in your health at the time of purchase. This means if you own life insurance and pick up smoking after owning life insurance. Your premiums will not be affected. It’s only if you apply for new coverage will your rates change to smoker rates.

Conclusion

Finding low-cost life insurance for smokers can be difficult. It’s possible. It’s possible to make a difference by taking the time to determine the type of insurance that you want, the amount of coverage you need, and matching with the right company.