Affordable Term Life Insurance for Smokers
Affordable Term Life Insurance for Smokers
Term life insurance prices have decreased over the last 10 years.
People are living longer and are getting healthier over time.
Different insurance companies have different definitions of a smoker.
The trick is to find the right insurance companies that treat smokers as lower risk. These companies will offer the most affordable premiums.
Best Term Life Insurance for Smokers
When it comes to affordable term life insurance quotes for smokers, some companies are more aggressive than others.
This leads to very different prices.
An independent life insurance broker has the ability to quote over 50 different companies, so you can get a better idea of what is out there.
That way, you know you are always getting the best possible deal.
Every customer’s risk is going to be different depending on age, coverage amount, term length, etc.
As a result, each customer is going to get rated differently by each company.
Cheapest Term Life Insurance for Smokers
Even smokers can get cheap term life insurance.
What is great is the chilled approach life insurance companies have towards weed.
You can smoke a joint 3 times a week and still be considered a non-smoker.
Cigarettes are bad.
If you smoke one cigarette, you are considered a smoker and your price will increase.
Term Life Insurance Quote for Smokers
You want the lowest rates possible, you should shop around with different insurance companies before you pick one.
Normally, the first insurance company you call isn’t going to have the lowest rates.
Because each company uses different methods for pricing premiums, you can receive very different quotes from each company.
You should get at least three different quotes before you decide which one works before for you. Instead of having to call all of these insurance companies and answering the same questions over and over, let us do the hard work for you.
With a few simple questions, you can be connected to one of our agents, and they can find the best rates available to you from a majority of insurance companies.
Best Term Life Insurance Policy for Smokers
Insurance companies categorize policy buyers into the below four categories:
- Non-smoker: Does not smoke at all
- Preferred Smoker: Smokes and is healthy and fit
- Typical Smoker: Smokes and has minor health issues
- Table-rate Smoker: Smokes and has visible health issues due to the smoking
Both smokers, as well as non-smokers, are eligible for term life insurance.
However, smokers’ classification into different categories enables insurance companies to decide the premium amount for various individuals depending upon their smoking habit.
Generally, the premium amount paid by smokers is higher than non-smokers.
Term Life Insurance for Cigar Smokers
Just like with smokeless tobacco, there are a few companies out there who will offer non-smoker rates to cigar smokers.
Once again, it comes down to utilizing an independent broker and having them do the work for you to find you the best rates out there.
Term Life Insurance and Smoking
Healthy non-smokers can get the preferred non-smoker rate, so healthy smokers are also rewarded with preferred smoker rates.
Qualification for the preferred smoker rates depends on several health and lifestyle factors. These are:
- Blood pressure
- Cholesterol level
- Height and weight
- Alcohol and drug abuse
- Driving and criminal record
- Lifestyle
- Occupation
- Travel and residency
- Your medical history
- Family medical history
It’s not easy to qualify for preferred rates. You must fall within the acceptable range for all of the above; a single factor that is outside the range will disqualify you from preferred rates.
Can Smokers Get Life Insurance
Yes, you can get life insurance if you smoke or consume tobacco.
The incorrect assumption that smokers cannot qualify for life insurance of any kind stems from the fact that coverage for term life insurance is much more expensive for those who smoke than those who do not.
As long as you answered truthfully, there is no concern about your policy being voided.
All the important factors about your medical history and lifestyle at the time of application are used to arrive at a fair premium.
Anything that happens after should not and does not affect your premium.
Best Term Life Insurance Companies for Smokers
Buying affordable term life insurance for smokers is one of the most important purchases you can make for yourself and your loved ones.
Buying life insurance with companies like Banner Life, Lincoln Financial, Transamerica, etc gives you peace of mind – you know that if anything were to happen to you, your family would have the funds they would need to cover all related expenses.
Life insurance removes the extra financial stress that comes with losing a family member.
Note: If you have considered getting a quote from State Farm, you may want to explore all of your options before deciding to go with them.
What if I stop smoking during the term life insurance?
Should you choose to quit smoking during your life insurance policy term then there are a number of options that can save you money.
It is possible that you could change to the non smoker category and therefore receive lower premiums.
All life insurance companies will have different rules determining how long you need to have stopped smoking to be considered a non smoker.
However, in general this will usually be for a minimum of one full year but can occasionally be as long as three to five years.
You may feel that as soon as you quit smoking you should be considered a non smoker, but life insurance companies ask for it to be for a longer length of time as many people may start smoking again.
No-Exam Life Insurance for Smokers
This type of life insurance may not offer you the same coverage you would get with an exam, but you have this option if you can’t get coverage with an exam.
No-exam life insurance usually offers a smaller death benefit, but you can get both whole and term life insurance for smokers.
You’ll likely pay more for no exam insurance, as your provider can’t confirm your health situation through tests.
With no-exam life insurance, you receive coverage faster than if you purchase a policy that requires an exam.
Your provider doesn’t have to wait for your exam results, and while they will still ask questions about your health, they can process your application more quickly.
Affordable Term Life Insurance for Smokers
As a smoker or tobacco user, you have a wide variety of options available in selecting the best and most affordable life insurance policy for your situation.
This requires some time and effort, but it’s worth it.
We have the experience and will do the hard work for you in finding life insurance for smokers.
At Mintco Financial, we will work closely with you and do the research necessary in finding the best policy and price.
We work closely with you in tailoring a solution around your needs. No money or time wasted.
Or visit our website and click in Term Life Insurance Quote and get a Free Instant Term Life Insurance Quote
Email us info@mintcofinancial.com