How Smoking Affects Your Term Life Quotes
Life insurance companies take many factors into consideration when valuing a policy. One risk factor observed is tobacco usage. Here’s what you need to know about smoking and life insurance.
Life insurance seekers can expect to pay a higher premium if they are a smoker or tobacco user. Some companies may even charge double that of a nonsmoker’s policy. Each company is a little different on what constitutes a smoker. Some may allow for “celebratory” cigars, while others require at least a year without use of any tobacco product to qualify for the nonsmoker premium.
Applicants may be tempted to flat out lie about their tobacco use, but most companies require an exam that tests for nicotine in the policyholder’s system. If the company finds you do have nicotine in your system, you will be charged the smoker’s premium. If they don’t discover it until later, it may give the company just cause to deny a claim. Either way, it’s best to be honest now in order to ensure the benefits for your loved ones in the future.
Insurance companies do allow for updates in health statuses. So, once you’ve kicked the habit for the determined period of time, you may be eligible to pay the nonsmoker’s premium. Yet another good reason to quit, if you haven’t already.
So, now the question is: do you want to protect your family’s hopes and dreams?
We will provide you the most overall benefits for the lowest monthly cost. Plus, it only takes a few minutes. Fill out the form below. On the resulting discovery page, give us your contact info, and we’ll let you know. It’s really that easy.