Smokers life insurance - What you should know in order to get the best rate.
If you smoke cigarettes, it is important for you to understand how life insurance companies underwrite you.
Smokers Life Insurance - How underwriting works.
Each company has its own set of underwriting guidelines when it comes to life insurance for smokers.
Generally speaking, if you smoke up to 1 pack of cigarettes per day, the best smoker rates are available to you. If you smoke more than 1 pack per day, some companies will give you their standard smoker rates, but not their preferrred smoker rates.
Non-smoker rates for cigarette smokers!!!
It's true. There is a company available that will offer non-smoker rates to occasional cigarette smokers!!!
It is important to note that qualifying for a non-smoker life insurance rate is not easy. Typically, an occasional cigarette smoker will be someone who smokes 5 or less cigarettes per day and has never been a pack per day smoker.
We can talk in detail about this and also contact underwriting upfront based on your information to see if a non-smoker rate would apply.
Life insurance for ex-smokers.
Did you quit smoking cigarettes?
All life insurance companies will consider you to be a smoker for the first 12 months from the date you quit smoking. After 12 months, each company will treat you as a non-smoker, but the best rate available to you will vary by company.
What kind of non-smoker rate is available?
If you quit 12 months ago, some companies will offer you their "preferred" non-smoker rate, while others will offer their "Standard" non-smoker rate.
If you are looking for a longer term life insurance policy, it may pay to lock in a shorter term now, and when more time passes, come back for a longer term policy.
When we talk, we can go over the various companies and their guidelines, and we can also show you shorter terms as well as longer terms to give you an idea of what to expect for rates.
Sample Case:
Male - Age 45, Excellent health, quit smoking 12 months ago, looking for $500,000 - 20 year term.
The best non-smoker rate in the country is $625 per year. This rate would not be available as the company requires that you be a non-smoker for 5 years in order to qualify for this rate. The best rate available would be $755 per year.
Call us to discuss the best rate for you. Each company has different guidelines. We will share that information with you so that you know which company is best for you.
Call us today at Toll Free (800) 909-2040 to get a free, no pressure, no obligation comparison.
