Other Free Encyclopedias » Online Encyclopedia » Encyclopedia - Featured Articles » Featured Articles: American Idols Tickets - How to Score American Idols Tickets (and How Not To!) - Where to Find American Idol Tickets to Meet Singles Free - How to Meet Singles Free

Life Insurance Smoker - Life Insurance for the Smoker - Strategies for Life Insurance for Smokers

How can a Smoker Get Life Insurance?

policy companies smoking policies

As more and more studies reveal the adverse effects of smoking, life insurance for the smoker is harder and harder to find. For those smokers who do have life insurance, the premiums is always more expensive than they are for non-smokers. Typically, a thirty-year term life insurance policy will cost a 29-year old female smoker $50 to $90 per month. For a non-smoker, the same policy would cost about $20 to $60. For a 29 year old male smoker, this policy would cost $60 to $135; for the non-smoking man, the policy costs $30 to $54. Apart from exceptional cases, smoking will increase the price of term-life insurance more than any other factor. So it seems the best way to cut costs on a life insurance policy would be to quit smoking.

However, the reality is that, regardless of whether they smoke or not, a life insurance policy is essential for most people with dependents. Also, smokers are at higher risks for many health issues such as heart trouble and lung cancer; therefore, it is important for many smokers to have a life insurance policy in place. Therefore, smokers need to be aware of the best strategies for getting life insurance policies.

Also, it should be noted that often not all smokers are categorized in the same way (nor should they be). The health risks of an occasional cigar or cigarette differ greatly from chain-smoking or multiple cigars a day. It is the responsibility of the insurance company to clearly define terms. Therefore, for those smokers seeking life insurance, it is important to get clarity about the company’s terms and policies for smokers. Many companies, for example, allow a person to be classified as a non-smoker, provided he or she does not smoke more than one cigar or piper per month. Also, some insurance companies classify a person as a smoker even after he or she quits.

Strategies for Life Insurance for Smokers

For many people, both smokers and non-smokers, it is important to get life insurance as quickly as possible. Therefore, a smoker looking for life insurance should look online and compare different companies. Although other factors must be considered, two of the lower priced insurance providers for smokers are Western Reserve Life and Transamerica. If they are willing, smokers who need life insurance could get a term life policy immediately and then try to quit smoking. After a year, many companies will give a significant premium reduction. However, it is important to have a clear understanding of the company’s policies for ex-smokers before attempting this strategy.

Most companies classify smokers who regularly use cigars and pipes, along with those who use smokeless tobacco, as smokers. However, some companies, such as Prudential offer a non-tobacco rate to smokers who do not use cigarettes. However, Prudential’s rates are typically higher than those of other companies. This strategy is only useful, therefore, for regular cigar and pipe smokers looking for life insurance.

While the prices may be higher, smokers, as everyone else, are entitled to quality life insurance. With the little extra research, they can should be able to find the best life insurance policies for their needs.

Life Fitness Elliptical Trainer - The Best Value For A Life Fitness Elliptical Trainer [next] [back] South Florida University - Life at the University of South Florida - Living on Campus, Student Organizations, Athletics, Admittance Requirements - With Sports, Organizations and Lots to Do, Students Have Fun on the University's Campus

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or