Finding the best life insurance for smokers is not very complicated, it’s just a matter of using the correct companies
Here is how to get the lowest possible premiums for smokers using a simple and straight forward process. Life insurance for smokers is normally going to represent higher premiums, but not always. It can depend mainly on what form of tobacco you use and how much you use it. It will also depend on the expertise of your agent that is helping you apply for the best rates. If you have a mission to purchase life insurance and secure the lowest possible rates, just keep on reading. We will go over everything you will need to know so you don’t pay one more penny than you should.
Are cigarettes the only concern when it comes to tobacco rates?
No, several other forms of tobacco products go under the microscope along with conventional cigarette smoking.
Here are a few examples:
- Cigar Smoking
- Chewing Tobacco
- Electronic Cigarettes (also known as E-Cigarettes)
- Marijuana can sometimes be classified as smoking.
- Snuff such as Skoal, Copenhagen, Kodiak etc.
- Pipe Smoking
- Nicotine Patches or Gum
Virtually any type of tobacco products that will be chewed, absorbed or smoked will be taken into consideration on a life insurance application.
Here are some very common questions and answers concerning applying for life insurance for smokers
Q: I don’t smoke but my life insurance application came back with a smoker rate and much higher premiums.
A: Tobacco was found in your system stemming from the use of other tobacco products such as chewing tobacco, nicotine patches or gum. This is not uncommon to say the least because most people don’t realize these other product are considered.
Q: Why do life insurance companies charge more for Smokers than for Non-Smokers?
A: That question is very simple to answer due to the fact smokers normally live a shorter lifespan than non-smokers. The studies and statistics clearly indicate smokers usually die off sooner because of heart disease and Cancer. Smoking is a very dangerous hazard to your health.
Q: Where should I begin looking for the best life insurance for smokers? I want the very best rates I could possibly get.
A: Activate the quote engine on the right side of this page. All the best life insurance rates for smokers will be displayed side by side instantly.
Nicotine remains in your system longer than you think!
Q: How long does Nicotine usually stay in my system and remain detectable by an exam?
A: With the high tech testing of today, some medical experts claim it can be found over a period of one year. The conventional testing used to be limited to Blood, Urine and Saliva test results.
Q: If I quit smoking after a period of time, can the smoker rate on my existing policy be removed?
A: Normally the answer will be yes. This will all depend on the company you have your current policy with. Some companies will require you to be smoke free for the minimum of sixth months.
Other companies will require you to be smoke free for one year or more. Most of the time you will be requires to take a blood, saliva or urine test for proof you quit smoking. This time period can be based on your type of tobacco used.
Q: What does the rating “Preferred-Tobacco actually mean?
A: A rating of Preferred-Tobacco means that you are a very healthy risk but you occasionally use tobacco products on a very limited basis.
Where does smoking Marijuana come into the picture?
Smoking Marijuana can be looked at from several points of view depending on the best life insurance companies. Some of the insurers will add a smoker rate and some will not. Smoking Marijuana can give the same dangerous effects as tobacco does. Even though Marijuana is not a tobacco product, it can still damage your heart and lungs at anytime. Marijuana smokers apply for life insurance, a good agent will simply place them with the most Marijuana friendly company.
If minimal Marijuana is used, there may be no extra cost at all to a low cost term life insurance policy. If everyday Marijuana use exits, a smoker rate will be applied and possibly a decline if the Marijuana use is intense.
Who has the best term life insurance rates for smokers?
There is no one company that always has the lowest rates. It always depends on a number of underwriting factors. Choosing the best life insurance company can save you hundreds if not thousands throughout the years you are paying premiums. Your very first step is to locate an independent insurance agency that specializes in life insurance. You will want to make sure they have full access to virtually any companies rates. Make sure to cover all your bases so you can choose the company with the best rates.
As I mentioned, there is no one company that will always be the best. Call us for a free medical pre-screen and we can see what carriers would offer you the lowest rates. How any specific company is going to react to tobacco use can change over time through the years. Most life insurance companies underwriting criteria can change from year to year. This has a lot to do with how competitive they are in the market.
Occasional smokers can receive non-smokers rates
If you are what the industry refers to as a “social smoker” and you only smoke once or twice a month. You can qualify for non-smoker rates. This is also going to depend on the life insurance company being used also. You also must test negative for Nicotine for this to happen. If you show positive for Nicotine you will not be given the non-smokers rates. At the present time there is two companies that will allow this.
Cigar smokers do not always have to pay a smoker rate
This again will depend on the company you decide to apply with. There are several companies that will give cigar smokers a non-smoker rate. This can also depend on how many cigars you smoke per month or per year. Some people do not inhale cigar smoke which will in turn reduce the risk a little. You can always be inflicted with mouth Cancer from just holding a cigar in your mouth. Cigars can be just as dangerous to your health as cigarettes if you smoke enough and inhale the strong smoke.
Let’s take a look at the tobacco industry in general
According to the informative Centers for Disease Control and Prevention in the year 2017. There was an estimated 16.4% of Americans still smoking cigarettes. That breaks down to over 44.2 billion people use cigarette type tobacco in this country. That breaks down to over 280 billion cigarettes purchased.
The revenue coming from cigarette purchases exceeds 700 billion dollars. The medical profession estimates over 300 billion dollars has been spent in one year for tobacco related diseases. People still continue to smoke no matter what. If it drains their wallet or damages their lungs they still continue to smoke.
Do e-cigarettes affect life insurance rates?
Electronic cigarettes also known as E-Cigarettes put Nicotine into their users lungs every time they are used. That is not just some harmless vapor that comes out of those mouthpieces. E-Cigarettes can increase you premiums easily another 50%. This is still considered smoking to the life insurance industry.
Some of the companies will allow E-Cigarettes users to receive non-smokers rates as long as they have not smoked conventional cigarettes within the past 12 months. E-Cigarettes have grown into a multibillion dollar industry in the United States alone. It is possible that one day these products can be used without having any additional cost to their life insurance for smokers policy.
Here are some of the lowest life insurance rates for smokers by company
We will look at some sample rates for a 30 year old male who is purchasing a 20 year Term policy with a face amount of $250,000. This individual is in great health but he smokes two packs of cigarettes a day. His health rate class is “Preferred Smoker”. We can see how each company compares with their rates.
- Banner Life – $462.49
- Transamerica – $462.50
- North American – $495.00
- American National – $495.00
- John Hancock – $512.00
- AIG American General – $516.50
- Prudential – $517.50
- SBLI – $535.88
- Lincoln National – $550.00
- Securian Financial – $567.50
- Principal National – $582.29
- Foresters Financial – $590.00
- Nationwide – $607.50
- Fidelity Life – $607.50
- Mutual of Omaha – $645.00
Choosing the right carrier can save you thousands
From the look at this list of companies, there can be quite a bit of difference in premiums for the same exact plan design. The lowest premium was $462.49 and the highest premium was $645.00. That is a difference of $182.51 per year. Since this is a 20 year term policy, if you multiply the $182.51 by 20 years you will have a total of $3,650.20 over the 20 year period.
How do medical conditions affect a smoker?
If you add medical conditions to a smoker application it can be worse than if the applicant was a non-smoker. Health conditions such as high blood pressure, high cholesterol and being overweight or obese go hand in hand with smoking. The smoking magnifies health conditions that could cause heart and other internal organ failure. Just being overweight with high blood pressure and smoking cigarettes is a recipe for a heart attack or stroke.
Anyone who has a list of medical problems and still smokes, in the eyes of the life insurance company, do not care about their health. The carriers look at them as a very poor risk and many time will decline an application.
Where does chewing tobacco fit in?
Chewing tobacco just like cigarettes or cigars puts Nicotine into the users body and gives the same indications as cigarettes on a medical exam. Even though it does not have all of the dangers of cigarettes. It can still cause medical problems such as mouth Cancer or Cancer of the throat. Depending on the type of tobacco being chewed and the insurance company you are using.
You could go from a tobacco rate to a non-tobacco rate very easily. We also recommend doing a quick and simple medical pre-screen. Chewing tobacco and snuff for a period of 30 minutes, have as high amount of nicotine in it as smoking three cigarettes.
Would No Medical Exam Life Insurance be a good choice?
No Medical Exam Term Life Insurance can always be a good choice but remember you will still be classified as a smoker. Purchasing life insurance will speed up the application progress to possibly 24-48 hours. You can still get some of the best life insurance rates with no medical exam. If you are looking for the absolute lowest premiums, the conventional fully underwritten policies will have the lowest cost. You can give No Medical Exam life insurance a try, there is no cost to apply. If your final decision is not to your liking you can always reapply to another company.
Activate our websites quoting system to see who has the lowest rates
Our quote engine will display the best life insurance quotes from over 40 of the most competitive life insurance companies. You will be able to compare low cost term life insurance specifically for your age, health and tobacco status. Just complete the basic info on the quoting form and start reviewing the best rates. You can also call us and we will be happy to give you quotes over the phone.
The best tip we can give you with is to quit smoking
You can apply for your life insurance right now and begin your financial protection for your family immediately. Then you will be able to work on the task of giving up cigarette smoking and live a much longer life. After you quit, you can have the smoker rate removed and you can watch your rates drop like a rock.
All it takes is 6 months to a year to be off the cigarettes and you can enjoy the premium reduction of non-smoker rates. Respiratory illnesses are about the worst form of medical issues to endure. Don’t fall victim to COPD, Lung Cancer, Emphysema and many other terrible diseases.
Our Final Word
Shopping for low cost life insurance for smokers without the help of an agent to help you is virtually a waste of time. There is too much to know and consider to do it yourself. I am sure you already found this out. There is also no cost or obligation for an agents help. You may call us 7 days a week for all the answers to your questions.
All the best,
*We are here to help you with no cost or obligation. Take a moment to set up a time to discuss your life insurance needs.