Life insurance is one of the safest bets for preparing yourself for uncertainties in life. It gives you and your loved one’s peace of mind when you pass away. Besides, your loved ones may use it to offset debts. It also makes it easy for you to help leave an inheritance.
In applying for your life insurance, several factors may influence the package, including the prices you’ll pay for them. These factors may include age and health condition, among other factors.
If you smoke, you’re likely to pay more in your life insurance package as compared to a nonsmoker. This is because smoking has a lot of health hazards. The insurer therefore, views you as a riskier client.
This guide explores all you need to know about smoker life insurance plans. Read on.
What Should You Know When Applying for Life Insurance Coverage for Smokers?
When applying for your life insurance, it’s prudent that you be honest when asked about your health. Note that you will need to provide a medical exam report during the application which may reveal nicotine presence in your system. If you had lied about your state, this might be considered as insurance fraud.
Moreover, some facilities will perform the health check with their nurses so it won’t be easy to get away with incorrect information about your health state.
One significant benefit of being honest during your application is that you will get the best rates, and options which will best match your need.
If you use tobacco, you may still be billed a riskier client irrespective of your mode of intake. Whether you consume it in the form of smoking cigars, chewing, vapes, pipes, or sniffing. Some insurers will still bill you as a nicotine user. That’s why you need to talk to an insurance agent to let you know which carriers don’t use this as barrier to getting life or burial insurance.
A good insurance agent will, however, crosscheck your health record to help you find the best policy which matches your situation. Moreover, depending on your smoking habit/health report the firm may also get you a nonsmoker rate.
Marijuana Life Insurance Rates
Most states are currently legalizing marijuana usage for purposes like recreational or medicinal usage. Despite these, most insurance firms are yet to change their terms regarding marijuana usage. Most agencies still test for marijuana in their life insurance life drug/medical tests.
Most insurers still bill marijuana users as smokers. If you’re using marijuana for medicinal purposes, it’s vital that you note the health condition you’re managing. Depending on your carrier, other underlying health issues associated with cannabis usage, e.g., cancer may be considered a significant factor when evaluating your health.
To get clear guidelines on the best options under this policy, your best bet would be contacting a certified insurance agent. He/she will explain to you the policy types, insurance coverages, and most importantly help you determine whether life insurance rates for smokers are applicable in your coverage.
Is Smokers Life Insurance Expensive?
If you’ve had a chance to compare the packages for nonsmoker’s and smokers, you may have noticed that smokers paid more than the nonsmokers. So the answer is yes, smokers life insurance rates are costly.
Another primary reason for these high rates for smokers is that most of them usually have other underlying health conditions. These may include an inactive lifestyle, and poor diet, among other factors.
Is It Advisable That One Quit Smoking Before Getting Life Insurance?
Comparing the life insurance bills for smokers and nonsmokers can be a solid reason for one to quit smoking. And of course, quitting it is right for your health. If you were a smoker and bought a life insurance policy then stopped smoking, it is essential to ask for another health check, preferably after one year.
If you test negative in your subsequent test, a good carrier will begin to charge you the reduced, affordable non smoker rates. It’s however not advisable to quit then wait for a whole year then go for the packages. When the nicotine content was high in your system, it may persist, and you still test positive. This means that you will still have to pay the expensive smoker rates.
Once you’ve made up your mind to purchase the packages, go for them. It will now be easier focusing on your rehabilitation.
Where Can I Get Affordable Life Insurance for Smokers?
There are plenty of firms that sell insurance for smokers. But you need to ensure that they offer the best services, which mean you need to speak with an agent who can give you some insight on which carriers are smoker friendly.
Other factors that may affect your rate are;
• Your health; If you have a poor health record, you may have to pay more for the policy. If you smoke on top of the poor health, the rates can be plain shocking. A reputable firm will, however, help you assess all the available options and help you choose the best package for your condition.
• Age; It’s essential that you buy your insurance when you’re still young. This is because you’re still active, and the risks are considerably low. If you go for an insurance policy when your older, you may have to pay more for coverage for health risks. Your gender may also play a slight role. Females are known to live around seven years more than males. That explains why they usually get lower rates.
• Your health history; The right agent will help you evaluate past health records so you can find the right insurance policy for your needs.
Your smoking habit shouldn’t stop you from buying a life insurance policy. If you’re looking to purchase an affordable life insurance package for smokers, we can help you. Contact us today and get to know how we can help you.