It’s vital that you understand all of the options and get the best plan when shopping for coverage. Everyone knows that they are going to pay more for a life insurance policy as a smoker. What a lot of people don’t know is how chewing tobacco or other forms of tobacco are going to impact their plan and premiums.
When you apply for a life insurance policy, the company is going to look at dozens of different factors to decide how much that you’re going to pay for your plan. The higher risk that you are to the insurance company, the more expensive that your plan is going to be. One of the biggest factors that they are going to look at is if you use any tobacco. Tobacco users are going to spend much more for their insurance plan depending on the type of tobacco and usage.
We know that buying life insurance isn’t the most fun experience, but it’s something that you have to do. We can help make the process as simple as possible for you and your family.
Life Insurance Application Process
If you’re a smoker, then you’re going to pay higher rates, but there are a lot of people that don’t smoke, and instead they use chewing tobacco. Insurance companies are going to view applicants that use chewing tobacco very differently.
If you use chewing tobacco, then you’re going to have a higher risk severe health complications, like mouth and tongue cancer and an increased risk for heart attack or heart disease.
The insurance companies are going to offset that additional risk by charging you higher premiums.
In fact, if you’re listed as a smoker or they give you smoker’s rates, then you’re going to pay at least twice as much for your life insurance, which is going to cost you thousands of extra dollars every year.
There are a lot of companies that are going to view chewing tobacco the exact same as cigarettes, which means that those applicants are going to get smoker’s rates, even though they don’t touch cigarettes.
There are other companies on the market that will give you lower rates if you use smokeless tobacco. These companies are going to give you a different rating chart.
One of those companies is Prudential. Prudential is the most well-known life insurance company who will offer non-smokers if you use chewing tobacco.
Not only do they offer non-smoker’s rates, but they also have plenty of options for coverage and have a high rating from A.M. Best. Prudential is not the only company that is going to offer non-smoker’s rates, but they are the most popular.
Getting Affordable Life Insurance As A Tobacco User
Do you think life insurance is expensive? You might have heard stories bout people paying massive premiums. Just because they had expensive life insurance doesn’t mean you will as well.
It’s time to make healthier decisions. Be more active. Eat better foods.
These will help you get better rates from the insurance company, which will keep more money in your pockets. It’s time to start using that gym membership. You don’t have to be a marathon runner to get better rates from the insurance company.
The next thing that you should do is ensure that you’re getting the right amount of coverage for your family. The main factor that is going to impact your rates is how much life insurance you’re buying.
It’s important that you aren’t paying for more life insurance protection that your family needs. Before you apply for life insurance, you’ll need to calculate your insurance needs. Several factors go into calculating your life insurance needs, the biggest are your debts and your paycheck.
As we mentioned, the best way to ensure that you’ve got the best insurance rates available is to work with an independent insurance agent. You could receive drastically different rates depending on the company. It could save you hundreds or thousands of dollars every year.
Chewing Tobacco Users Can Pay Less
We talk to a lot of clients every year who are confused about how their chewing tobacco is going to change their coverage. We hope this article cleared up any confusion you may have had.
If you don’t have a plan in place, your loved ones would be left with a massive amount of debt and stress. With a mortgage, car payment, and student loans, you could easily leave your family with thousands and thousands of dollars of debt.
It’s vital that you plan for the worst. You can’t avoid it, so you should try and make it as easy as possible for your family.