Smoker Life Insurance
Life insurance is a necessity for most of us, particularly if we have children. It is your responsibility to see that your children can be cared for should something happen to you. Typically, life insurance coverage should also provide for burial expenses and pay off any outstanding debts you have at the time of your death. While most of us need life insurance, there are circumstances that make it more difficult to purchase affordable coverage and smoker life insurance is just one example of this.
Anyone who has had any dealings with any kind of insurance knows only too well that tobacco use is considered a problem. The health risks associated with smoking make the smoker a risk for the insurance company. If you smoke, you already know its one of the first question an insurance agent is going to ask you after your age and sex. So, if you smoke and you need life insurance, how do you go about getting it? Does smoker life insurance even exist?
Smoker Life Insurance – Smoker or Non-Smoker?
Yes, it does, but you are going to pay for it. Smoker life insurance may be up to three times more expenses than a similar policy for a non-smoker. Some companies however, offer different rates dependent upon whether you smoke cigars or cigarettes. If you have quit smoking, one company may treat you as a smoker and another may treat you as a non-smoker depending on how long you’ve been tobacco free. There are differences for smokeless tobacco users as well. Some companies may treat you as a non-smoker if you only smoke occasionally or if you chew instead of smoke tobacco. It all depends on the company; although for the purposes of the insurance questionnaires, any tobacco use of any kind in the last five years is considered a yes answer.
If you want smoker life insurance at the best rate possible, you are going to need to shop around, and don’t assume you and your spouse will get the same smoker’s rate if you both smoke. Sources indicate some companies charge less for one or the other, without really explaining why. You’re going to have to shop around twice to make sure you’re both getting the best rate.
Smoker Life Insurance Quotes
Experts suggest you still search on your own and get quotes from all many companies specializing in high-risk groups such as tobacco users. Compare the premium rates, the plans they offer, and check their insurance company rating which indicates the fiscal health of the company providing the quote. It is easy to compare a large number of policies and rates by using an online insurance quotes service. Once you determine the companies that meet your needs the best, then you can contact them directly, often through the insurance quotes service.
Smoker life insurance is available, but there are tremendous differences in the rates between the companies offering this form of insurance. Keep in mind however, that no matter what company you choose, your rates are going to be much higher than that of a non-smoker. The best policy may be for you to stop smoking altogether rather than try to buy smoker life insurance.