The health of a person is always important for life insurance providers. Smoking is one of the major reasons for people to die early. This is a concern for people all around the world and responsible for a short life span. This is why life insurers always offer a higher premium to those who are consuming tobacco. The tobacco product or nicotine has a vast negative impact on a lot of diseases such as lung cancer, heart diseases, emphysema, bronchitis and so on. These are some of chronic diseases and gradually damages our system. Beside this a chain smoker spends a good amount of money everyday for nothing and it is a total waste. Some people take alternatives of tobacco product such as cigar, chewing tobacco, nicotine gum, patches etc which eventually causes more or less same. Sometime the tobacco replacement product’s effects are worse and thus you are not receiving any good by consuming all these products. This is always difficult to find out a cheap life insurance for smokers, but not impossible.
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When you’re about to underwrite for a life insurance policy, insurers will thoroughly check up the health status if this is a mandatory step by their policy standard. Now when they take a urine test and found a trace of nicotine which is the main element of any tobacco product such as cigarettes or marijuana, then they will only offer a smoker premium which is much higher than the one who pays for the non-smoker policy. The insurance providers always take such activity very seriously and does not compromise with a non smoker as such persons are a potential loss of their business. The premium for a smoker will be 2 to 4 times greater than a non-smoker if other risk factors are assumed to be constant for two different people. Although some might offer an affordable price for smokers but there have been always an uncertainly and other basic benefits might be restricted to compensate this.
The life insurance rates for smokers will vary depending on what type of smokers you are and how much you consume in a certain period of time. There are a lot of smokers who smoke socially or by request when they join a party or go for vacation. Some insurance providers won’t define you as a smoker for up to a number of cigarette consumption for instance less than 12 cigarettes a year. On the other hand, some providers don’t really bother about whether you are an active or an occasional smoker as they assume even a trace amount of nicotine does the same amount of damage to the health. However on the safe note, try to quit smoking and be totally tobacco product free for a period of 12 months and then apply for a policy if you want to be considered for the non-smoker premium. Otherwise you might need to remain happy with the smoker premium which is always higher and less flexible.
How to Become a Non-smoker from Smoker to Insurers?
If you want to remove the smoker tag from yourself then the rule of thumb is to refrain from taking any tobacco product for a period of 12 consecutive months at minimum. The time period might be different from insurer to insurer. Once you pass this time, request your provider for a reconsideration. If they conduct a medical test and does not find any nicotine in urine, they might offer you to migrate to the non-smoker policy. Some providers might take another 12 month test period to keep an eye on you and then offer a lower price. If you are already a smoker and need a policy badly, then buy one for a shorter period for instance 10 year term life insurance initially. Then when you quit smoking completely, shop for a longer term policy. This way you can some money. Sometime it becomes hard to know what is the best way to recover from such when you’re out of policy and as soon as you enter in an policy and spend few years with it, there is always a possibility that the insurance provider will relax the policy rule for you upon performance.
What If I Hide the Truth?
You may think about hiding the fact that you smoke. But the end result will not be successful. Even for a no exam life insurance, the question is often asked whether you took any tobacco product in the last 12 years or not. This is always recommended to tell them the truth. Even if you smoked occasionally during this time, mention it. A false or misleading information might pay you heavily on an important moment. Once you make the claim on death event, the insurer might deny it after medical check up or by any way if they come to know about this fact. They also have the full authority to cancel or suspend a contract if a fact is concealed or any policy rule is violated. So always try to provide the true and legit information especially when you are proving personal details. If you really don’t want to quit smoking, but still want to obtain a life insurance then better pay higher premiums and look for guaranteed acceptance and no exam term life insurance.
The life insurance for smokers is still available if you shop around. There should be always someone who steps forward and help such people. Unless you are not putting your best afford in it, this is very hard to find them. You should gain the basics about how the policy works and look for where there are loopholes or a space for improvement available. You should apply for free online quotes from different sources and compare between them. This will take some time but worth enough in order to get an affordable life insurance.