Can I still get life insurance if I smoke?
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Asked September 9, 2013
Life insurance is available to everyone, regardless of their age, health or personal habits. With that said, things like smoking will cause you to have higher rates, or make it more difficult to find a company willing to insure you. The best advice is to quit smoking, because after you have been smoke-free for a year or more, you can qualify for non-smoker rates, and that will be a huge drop in your premiums.
The first hurdle a smoker looking for life insurance must cross is finding a company that will insure them. For that, it may be easier to start with a broker who has more than one insurer to offer. Many insurance websites, including this one, offer free online quotes for life insurance that will automatically use the information your provide to find insurance companies best suited to your needs. Just fill out the simple form and you will receive a quote from multiple insurance companies, all of which will write a life insurance policy for smokers.
The type of life insurance policy available to smokers may be limited by some companies. For example, one company may be willing to sell you final expense life insurance, but not a universal life policy. Term life insurance is available, and some companies will sell you whole life policies. What it comes down is whether an insurer is willing to accept the risk associated with smokers, and whether you are willing to pay the premiums.
No matter what type of life insurance policy a smoker buys, they can always expect to pay higher premiums. Insurance companies look at the risks associated with an individual as part of the calculations used to set premiums, and the higher your risk assessment, the more your policy will cost. You can offset that cost by qualifying for life insurance discounts, if any are available, but the only way to eliminate the risk is to stop smoking.
Answered September 9, 2013 by Anonymous