Life insurance is one of the most important purchases 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 which the insurance company is going to look at when they are reviewing your application for coverage.
One of the biggest factors they are going to be considering 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 you get the life insurance protection that you and your family need.
If you need a life insurance policy, and you still smoke, or have recently quit, you’re absolutely in the right place.
Several steps in the life insurance process are essential in getting the best plan to fit your needs.
The first thing 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 life 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After that period is up, the plan is no longer valid, and you’ll have to reapply for coverage.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 who 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, however.
These are just the broad categories of coverage that you can choose from.
Inside of those categories are several sub-types of policies which 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 they are going to do this:
One of the main questions is what type of tobacco you use. This actually does make a big difference. Here are the common selections you’ll get:
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 payout down the line.
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 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.
In either case, 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 who works for one single company.
If you’re a smoker, and you have plenty of pre-existing conditions, you could be worried 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 insurance policy is one of the best options for anyone who 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 you should be aware of before you make the final decision.
On the flip side, there are a few disadvantages which could hinder the effectiveness of your policy.
They are going to be much more expensive than a policy requiring you to take a medical exam. The insurance company is going to want to see what kind of health you’re in before accepting your application.
If they don’t get the information, they are taking a higher risk, and they are going to offset this risk by charging you more in monthly premiums.
Another disadvantage is 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, you’ll have to buy an additional plan from another carrier or go with a traditional term life insurance policy.
One of the most common questions applicants ask is, “Well, how long does nicotine stay in your body?”
This is an important question for anyone who 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 you get protection as soon as possible.
When you take the medical exam, they are going to test for nicotine (or cotinine), 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 completely.
The answer to the question depends on a variety of factors, of course. The biggest factor is the type of test 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, in some cases.
Another test 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. 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.
But there’s a catch!
You HAVE to tell the company when you’ve last smoked, dipped, or used any type of tobacco products. For most carriers, it has to be at least ONE FULL YEAR!
Some even ask for two.
Lying on the application can void the contract, so even though you could technically pass the exam tests for nicotine, think twice before you game the system.
Aside from choosing the right kind of plan, it’s vital 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 you need to account for.
The first things are your debts and final expenses your family would be left with.
You can also add other things in, too, like college expenses, retirement funds, or other needs you may have, but these two are the most important.
Life insurance is one of the most important purchases you’ll ever make for the future of your family. It’s the best way to ensure they will be protected, regardless of what happens to you, 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 of any type of tobacco product, please contact us today, and we would be happy to answer those questions and ensure you’re getting the best plan.
Don’t wait any longer to get the insurance protection your family deserves.
Life Insurance For Smokers Has Never Been Easier with no obligation to buy.
Compare rates from top life insurance providers and save up to 58% on your life insurance.
We work with individuals across the nation to secure the best life insurance rates.