Affordable Life Insurance For Smokers

When you apply for life insurance coverage, the company is going to look at dozens of different factors before they accept or decline your application. They are going to look at everything from your occupation to your age. One of the biggest factors that they are going to look at is if you use any tobacco. As you probably know, you’re listed as a smoker on your application, you’re going to present more of a risk to the insurance company, which they are going to offset by charging you higher monthly premiums.
Finding affordable life insurance for smokers is a common problem for many consumers.  It is, however, not impossible.  Take 4 minutes to read this article and you're well on your way to securing the cheapest life insurance rates as a smoker.

Why Smoker Life Insurance Rates Are Higher

Smokers who are not aware of the added cost for this habit often ask: “Why is my life insurance so much more expensive than so and so?”  Here's why:
Life insurance companies not only look at the health of a person, but also their personal habits.  So a person that is in good health and does not smoke will get very low life insurance rates because the chance of them passing away is relatively low.  While a person who smokes will have a much higher premium because statistics show that smokers have a greater chance of lung cancer and other diseases, and thus, have a better chance of dying before the term of their policy expires.  This means that the company will put you into a smokers life insurance category instead of a standard one.
With that said, smoker life insurance rates are higher due to the increased risk that the insurance company takes.
In fact, smokers life insurance rates are typically double those of non-smokers with every life insurance company on the market.  However, this does not mean it is impossible to find affordable life insurance for smokers.

Which Kind Of Plan Is Right For You?

When you’re looking to get affordable coverage, the type of plan that you choose is going to play a major role in how much you pay for your plan. If you’re looking to get the cheapest insurance coverage, then a term insurance plan is going to be your best option. Because these plans aren’t a permanent form of coverage, they are going to be much more affordable than other times of plan.
If you don’t want to have to worry about reapplying for life insurance in the plan, then a permanent life insurance plan is going to be the best option for coverage. These plans are active as long as you continue to pay the monthly premiums for the plan. With these policies, you won’t have to worry about losing coverage in the future.
Another option is to buy a no medical exam policy. These plans are exactly what they sound like. You’ll be able to buy an insurance plan without being required to take a medical exam before they accept your application. These plans are a great option for anyone that’s been declined for life insurance because of their tobacco usage and health, but there are some significant drawbacks of these plans versus a traditional plan that requires a medical exam.
One of the most notable disadvantages of these plans is that you’ll be restricted on how much coverage that you can buy. With one of these plans, you’ll only be allowed to purchase around $250,000, which isn’t enough life insurance for most families. If you need more than that (more than likely you do), you’ll need to apply for a traditional life insurance plan.
Another pitfall of these plans is that they are going to be more expensive than a traditional plan. The purpose of the medical exam is to give the insurance company an idea of your overall health which will determine how much of a risk you are to insure. Without the medical exam, the insurance company is taking a much great risk to insure you, and they going to offset that risk by charging you higher monthly premiums.

Getting Cheaper Life Insurance For Smokers

While smokers are going to pay more insurance versus what a non-smoker is going to pay for the same amount of coverage. Even if you’re a smoker, there are several ways that you can get an affordable life insurance plan. Your policy doesn’t have to break your bank every month. Making a few simple changes can help you save hundreds of dollars on your plan.
The first thing that you should do is start getting regular exercise and stick to a healthy diet. Before the insurance company approves your application, they are going to require that you take a medical exam. The results of the medical exam are going to play an important role in how much you pay for your life insurance. The better your results, the less that you’re going to pay for your coverage. One of the best ways that you can secure better rates from the insurance company is to start a healthy diet and get regular exercise. Both of these are going to help you lose weight, lower your cholesterol, lower your blood pressure, and much more.
The next thing that you should do is cut out any dangerous hobbies that you have. If you enjoy riding a motorcycle or skydiving on the weekends, you’re going to be a much higher risk for insurance coverage. If you want to save money every month, you’ll need to find safer hobbies to enjoy.
The best way to get lower premiums is to quit smoking. We know that you came to this page to find the best life insurance for smokers, but the plain truth is that you could save hundreds and hundreds of dollars if you kicked the bad habit. If you’ve been looking for additional motivation, just think about the thousands of dollars that quitting could save you.

The Best Smokers Life Insurance Companies

Finding the best life insurance company for your smoking risk depends on a lot of factors.
If you chew, dip or use any smokeless tobacco products, you can get rid of the smokers life insurance for NON-SMOKER rates and cut your life insurance premiums in half!  Same thing for cigar smokers - non-smoker rates are available if you use the right company.  There are only a few companies that do this, so it's important that you speak with an independent life insurance agent who can compare these companies.
Also, many consumers tell us they quit smoking recently.  However every life insurance company will still give you their smoker life insurance insurance rates if it's been less than 1 year since you quit.  If it's been more than 1 year since you quit smoking, you can secure non-smoker rates with several companies.  Keep in mind, many life insurance companies require 2 years of non-smoking to secure their non-smoker rates.
So the most affordable life insurance for smokers will fluctuate based on YOUR unique smoking risk.  Don't let anyone tell you there is a "best" life insurance companies for smokers.  It's a big misconception.

Affordable Life Insurance For Smokers

The key to finding affordable life insurance for smokers is knowing the least expensive type of insurance and using an independent agent who can find the lowest life insurance rates on the market.
For any demographic the cheapest form of insurance is term life insurance.  You pay a guaranteed level monthly premium and receive coverage in exchange.  If you stop paying, you lose coverage.  There is no investment or cash value, just insurance and that's why it's so affordable.  If you are interested in other forms of life insurance go to our page for types of life insurance HERE.
Now that we've established term life insurance as the most affordable life insurance for smokers, you want to factor in any other health or lifestyle issues, besides your smoking.  That's where a truly independent life insurance agent comes in.  We look at your overall risk and survey all the top rated carriers to see who will offer you the most affordable life insurance rates factoring in your entire risk.
The key in finding the most affordable life insurance for smokers is to find the life insurance company that will look most favorably at your situation.  Each life insurance company will look at your health and lifestyle differently, at termlife360 we'll find the best life insurance for your smoking and overall health risk.
On top of using term life insurance and using the right life insurance company, many people adjust their term length and coverage amount to get the cheap life insurance they are looking for.  We'll work with you to secure life insurance within your budget.
We understand that budget is the most important thing, especially because smokers life insurance rates are higher.  We look forward to the opportunity of earning your business and securing coverage for your family.  Remember, affordable life insurance for smokers is available, IF you use the right life insurance company.