Life insurance is one of the most important purchases that you’ll ever make for your family. Finding the perfect insurance policy can be a long and difficult process. There are dozens of different factors that the insurance company is going to look at when they are reviewing your application for coverage.
One of the biggest factors that are going to be considered when you apply for coverage is if you smoke. Being listed as a smoker on your insurance application can have serious effects on your life insurance policy. It’s vital that you get the life insurance protection that you and your family need.
Several steps in the life insurance process are essential in getting the best plan to fit your needs. The first thing that you should do is pick the best type of plan to fit your life insurance needs. The two main types of plans are term life insurance and permanent insurance, both of them have different advantages and disadvantages.
A term life insurance policy is the most attractive option because it’s the most affordable form of coverage. These plans are bought with a pre-determined length of effectiveness. They are sold in a variety of lengths, but most companies sell a 10, 20, and 30-year term life insurance policy. After that period is up, the plan is no longer valid, and you’ll have to reapply for coverage. Because these plans come with a pre-determined expiration date, they are the most affordable option to get life insurance protection.
The other option is a whole life policy, which is a permanent form of coverage. These plans are effective for as long as you pay the premiums. They are a great option for anyone that is looking to get coverage without having to worry about reapplying in the future. Because they don’t have a set term, they are going to be more expensive than other life insurance options.
These are just the broad categories of coverage that you can choose from. Inside of those categories are several subtypes of policies that all have different aspects that can change your coverage. For example, there are variable life insurance policies and burial insurance plans that are both different forms of the two main types of coverage.
When you apply for life insurance coverage, the company is going to want to understand how much of a risk you are to insure before they accept your application. There are several ways that they are going to do this, the first way is by asking you dozens of questions on the health questionnaire. These questions are going to revolve around your current health and your family history.
Additionally, the insurance company is going to require that you take a medical exam before they accept your application unless you choose a no medical exam, which will come with higher premium rates. During the medical exam, there are several different health numbers the insurance company is going to want to see. They are going to get your weight, blood pressure, cholesterol, and they will also take a blood sample and urine sample. The results from the medical exam are going to play a huge role in how much you pay for your life insurance policy. The results are going to go through the medical underwriting and will determine if you are accepted or declined.
If you’re a smoker, there is no point in trying to lie about your tobacco usage or smoking. With the medical exam, the insurance company is going to see that you’re a smoker. Lying on the application is only going to delay the whole process, and could have drastic impacts on your coverage.
If you want to get affordable life insurance coverage, there are several ways that you can go about it. Making a few simple lifestyle changes can have an enormous impact on how much you pay for your life insurance.
The first thing that you should do is improve your health through diet and getting regular exercise. Both of these are going to help you get better results from the medical exam which is then going to translate into lower monthly premiums on your policy.
One of the best ways to cut your premiums is by quitting smoking. We know that it’s difficult, but it can save you thousands of dollars on your life insurance policy. Smokers are going to pay twice as much for coverage versus what a non-smoker is going to pay for the same amount of life insurance. If you want to get the most affordable life insurance plan for your family, you’ll want to quit the cigarettes once and for all. Not only will this save you money by not getting smoker’s rates, but it will also improve your overall health, which is going to translate into even more savings.
The best way to save money on your life insurance policy is by working with an independent insurance agent. Unlike a traditional insurance agent, our independent insurance agents represent dozens of highly-rated companies across the nation. There are several advantages to working with an independent agent versus an insurance agent that works for one single company.
The first and most important benefit are that you’ll save money on your life insurance plan. As we mentioned, every company is going to have different underwriting and standards for smokers, which means you could receive drastically different results depending on the company. It’s important that you get quotes from as many companies as possible before you pick the plan that works best for you and your loved ones, but calling all of those companies could take weeks. Instead, let us do all of that hard work for you. Because we work with various companies, we can bring all of the rates directly to you.
The other advantage to working with an independent insurance agent is we can answer any questions that you have and point you in the direction of the plan that is going to fit your life insurance needs the best. Because we don’t work with one specific company, we aren’t going to try and sell you the most expensive plan or try and push additional coverage that you don’t need. We are working to give you the best plan at the most affordable price.
If you’re a smoker, and you have plenty of pre-existing conditions, you could be worried that you’re going to be declined for life insurance coverage. Regardless of your health, or if you’ve been rejected in the past, there are still affordable life insurance options for you.
A no medical exam is one of the best options for anyone that can’t get life insurance coverage through traditional methods. These plans will give you the life insurance coverage that you need, without being required to go through the medical exam before being approved. There are a couple of advantages and disadvantages to these plans that you should be aware of before you make the final decision.
The first and most obvious benefit are that anyone can buy one of these plans, regardless of health or any severe health complications. It doesn’t matter what shape you’re in; you can get the life insurance coverage that you deserve.
The next advantage is that you can get life insurance much quicker with a no exam plan that you would get with a policy that requires medical underwriting. With a no exam plan, you’ll be able to get life insurance protection in a matter of days versus the month that it could take with a traditional insurance policy.
On the flip side, there are a few disadvantages that can hinder the effective of your policy. They are going to be much more expensive that a policy that requires you to take a medical exam. The insurance company is going to want to see what kind of health you’re in before accepted your application. If they don’t get that information, they are taking a higher risk, and they are going to offset that risk by charging you more in monthly premiums.
Another disadvantage is that there is going to be a low limit on how much life insurance you can buy. Most insurance companies are only going to allow you to buy up to $50,000 in one policy. If you want more coverage than that, you’ll have to buy an additional plan or go with a traditional term life insurance policy.
One of the most common questions that applicants ask is how long does nicotine stay in your body? This is an important question for anyone that is looking to quit smoking and wants to get the lowest rates on an insurance policy. Because life insurance is such an important investment, it’s vital that you get protection as soon as possible.
When you take the medical exam, they are going to test for nicotine, and there is no way to hide it. If you want to get non-smokers rates, you’ll have to wait until the traces of nicotine have left your body. The answer to the question depends on a variety of factors. The biggest factor is the type of test that they use to detect the nicotine.
Most insurance companies are going to use a urine test because they are cheapest and easiest test to do, but they are also the least sensitive to traces of tobacco. With urine, they can only detect nicotine from the past one to two weeks.
Another test that they could use is a hair test, which is much more sensitive than a urine test. With a hair test, they can detect nicotine for up to a month after. In some cases, they can detect it even longer than that.
The insurance company could also use a blood test, but it is less common than the other types. They tend to be just about as sensitive as a urine test, and a blood test can detect nicotine for several weeks after you’ve smoked a cigarette.
Unless you know which kind of test the insurance company is going to use, you should aim to be nicotine free for at least a month. This is the best way to ensure that you’ll get non-smokers rates from the insurance company. It could save you thousands of dollars on your life insurance plan.
Aside from choosing the right kind of plan, it’s vital that you get enough coverage for your family members. Not having a large enough policy could leave your family with leftover debts and no money to pay off those bills. When you’re calculating your life insurance needs, there are several different factors that you need to account for.
The first thing is your debts and final expenses that your family would be left with. The primary goal of your life insurance is to give your loved ones the money that they need to pay off your debts. Add up all of your expenses, everything from your mortgage to your car payment. Without the proper coverage, your family could be left with a massive amount of debt.
The next thing that you should account for is your annual income. If you’re one of the main income earners in your household, your family will suffer financially if you were to pass away. Your life insurance plan can help replace your paycheck or any other source of income to give your family the support they need without sacrificing their standard of living.
Life insurance is one of the most important purchases that you’ll ever make for the future of your family. It’s the best way to ensure that they will be protected, regardless of what happens to you tomorrow, but we know it can be difficult to find the perfect plan to fit your needs.
If you have any questions about getting life insurance for smokers, please contact us today, and we would be happy to answer those questions and ensure that you’re getting the best plan to fit your needs. Don’t wait any longer to get the insurance protection that your family deserves.