Life Insurance for Smokers

It is quite possible to get life insurance if you are a smoker, but you will have to pay a little bit more for it due to the increased risk.  And just to clarify, it is not just those who smoke.  Many life insurance insurance companies make little distinction between those who smoke, and those who use tobacco in other forms.  So if you chew, you could end up paying as much for life insurance as someone who smokes.  There is more variability between one insurance company and the next when it comes to smokers which is why it is more important than ever to shop the entire market and to deal with a life insurnace specialist who represents at least 5 different life insurance companies.  Below are some common questins about life insurance and smoking and use of tobacco products.

If I pay smokers rates for a life insurance policy that I currently have, how long will I have to wait to before qualifying for non-smokers rates once I quit?

This is definitely possible, but the window of time you will be required to wait to re-apply for a lower rate may vary from one insurance company to the next.  This is usaly between one to two years.  This is a very important consideration because most people who smoke acutally want to quit and many of them do.  Therefore, if you are trying to quit or have scheduled to quit in the future, you will want to ask you prospective life insurance company what their policy is regarding this.  Keep in mind too that if you quit and reapply for a life insurance policy with a lower rate there is a good chance that you will have to undergo the underwriting process again.

What if once in a blue moon while I'm on vacation I have a cigar?

There are some life insurance companies that will make allowances for the very occasional smoker.  Whatever you smoke and however often you smoke, make sure that you disclose this on your application.  Remember too to get lots of different quotes and work with a life insurance specialist who will be able to find the company that is most willing to make allowances for this.

Will I automatically get a smokers rate if I use smoke-less tobacco?

Not necessarily.  There are companies that view certain kinds of smokeless tobacco differently than they do tobacco since the mortality rates are different.  Again, it is important to look around