subject: Smokers' Life Insurance. Is There Such a Thing? [print this page] Smokers' Life Insurance. Is There Such a Thing?
You are a smoker, in great health and in need of life insurance. Just call anyone, get the low rate quote and you are all set, right? Not really! Although we recommend that everyone does shop for their life insurance (smoker or not), smokers need to shop even more. Smokers need to call more companies and ask more questions. From my own experience, there are very few companies that specifically publicize their smoker rates. But these are the companies you need to find. Is it worth it? Yes, it is very well worth it! We have seen savings as high as 50% from one company to the next and the type of plans available to smokers.
Another thing to keep in mind is that there can be a great difference between cigarette smokers, pipe smokers and cigar smokers when it comes to life insurance. For example, some companies will offer non-smoker rates to Cigar or pipe smokers. At the same time, these same companies may not be the best choices for cigarette smokers. Some companies may also offer great rates to smokers but their underwriting is so tough to smokers that the end results may be much worse than expected. There are companies who offer smokers not only great rates but also great underwriting. These are the ones you need to find. The best way to find them is by asking questions. You may want to ask for non-smoker rates and if when you ask for smoker rates the same company is quoted, you may want to consider going somewhere else.
What if you do not tell the insurance company that you smoke? Well, first of all, most companies do require an exam. When the exam is done, nicotine will certainly show in the lab test. If you tell them at that point that you do smoke, they may wonder about other things you may be hiding. Some say you can do certain things to flush the nicotine out. I would think that, in most cases, this would not work. Some say that maybe you should apply for a no exam required plan. That certainly would or would not work (some no exam companies request medical records). Now, let say, it all works out and you do get non smoker rates. So you spend all your time and money to insure that your loved ones are covered and then...a few months later you are diagnosed with lung cancer (God forbid). You die, your loved ones file a claim, the insurance looks into the claim and then decides that they cannot pay because the application contained fraudulent information. All that you did to insure that your loved ones are OK when you die goes down the drain in shame. believe me, it is not worth it. If you are going to get insurance, give the insurance company all the information they request honestly. As I said,, very often, if you call the right company, your rates may still be very good as a smoker. So tell the truth and rest in peace that the claim will nto be denied because of fraud. If you are a smoker looking for a favorable smoker's life insurance plan.
As we write in all of our articles, no matter what company you select, always ask, ask and ask more questions. thank you.
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