#affordable life insurance
Finding Afordable Life Insurance for Smokers
Many consumers find it difficult to acquire affordable life insurance for smokers. The good news is that it is not impossible to get competitive rates but you do need to know about life insurance and work with an agent who is used to working with smokers. To help you get started we put together these common questions about smokers life insurance.
Why are the rates on life insurance for smokers higher?
It doesn’t seem fair, especially to people that are in good health, that a person who smokes should pay higher life insurance premiums. To understand why this is the case you really need to get an understanding of how life insurance is priced.
The key to it all is managing risk. Life insurance companies are in business to make money, so if you they take too much risk with their policies they will lose money instead. So all pricing is done based off of risk. The higher the risk you the more you will have to pay for premiums.
For smokers, every study has shown that smoking increases your risk for heart disease, cancer and cardiovascular problem. All of these conditions increase your risk of death, and thus, means you are a higher risk to the life insurance company having to pay out on the policy. For that reason your rates are higher.
How do I answer the Tobacco Use Question?
To put this simply, answer honestly. It does not do you any good to lie on the questionnaire for life insurance. Most life insurance does require a medical exam and they do test for chemicals that come from tobacco products. If you were to get by the screening and get lower rates and the life insurance company found out you were a smoker the whole time they could revoke your policy, or if you have already passed away they can refuse to pay out or pay a much lower amount to your beneficiaries. Either way it does not pay to lie on this question.
What if I only use other kinds of tobacco?
Companies treat each type of tobacco differently. So it is important to designate what type of tobacco you are using. The other key is working with an agent that knows the companies well enough to point you toward the company that will get you the best rates with your specific tobacco product
If I quit smoking can I get lower rates?
You can get lower rates if you quit smoking. The life insurance companies will not lower your rates until you have been smoke free for at least one year and many will make you wait two years until you can get lower that smokers life insurance rates.
What are the best smokers life insurance companies?
Since we specialize in life insurance for smokers and have built quality relationships with the most lenient companies we treat this information as a proprietary secret. Be sure that our competitors would love to know as much about smokers life insurance companies as we do.
What is the most affordable life insurance for smokers?
Across the board for all people, term life insurance is the least expensive type of life insurance. So when it comes to smokers, term life insurance is the cheapest. Now there are reasons to go with permanent life insurance but if you are looking for the best ban for your buck, term life insurance for smokers will be the least expensive option from a monthly premium perspective.
At LifeInsuranceForSmokers.US we want to see you get the lowest rates on your life insurance. If you have any more questions about smokers life insurance or are ready to get started with a set of personalized life insurance for smokers quotes, you can contact us by using the form on this page or by calling us at 888-229-7522.