Smokers Life Insurance
As a smoker, you may think that finding life insurance will be impossible. While it is true that some insurance companies will not provide life insurance for smokers and many will charge a much higher rate to those who smoke, it is possible to obtain a reasonable rate if you know where to look for the best policy rates. Furthermore, there are some simple steps that you can take to help you improve your rates with many insurance companies.
Getting the Best Rates When Purchasing Life Insurance for Smokers
Regardless of how much or how little you smoke, you are not going to get the best insurance rates available for any company. Still, you can help bring down your insurance costs by keeping a few tips and tricks in mind. For example, some insurance companies will charge less if you are only an occasional smoker. Yet others will keep your rates lower if you are an occasional cigar smoker who never smokes cigarettes. On the other hand, keep in mind that most insurance companies will still consider you to be a smoker even if you only use smokeless tobacco products, so you generally should not consider this to be a tip for working around the increased rates.
Of course, the best way to get the lowest rates would be to quit smoking altogether. For many smokers, however, this process is not as simple as it sounds. Furthermore, it should be noted that many insurance companies will continue to charge the higher rate until you have been smoke-free for two or three years. Therefore, quitting smoking in order to bring down your insurance rates will be a long-term commitment before you see the benefits in terms of lowering your insurance rates.
Finding the Right Life Insurance Company
Whether you smoke cigarettes, cigars or marijuana or whether you use smokeless tobacco, finding the right life insurance company is the key to unlocking the best insurance rates. By working with a company that specializes in life insurance for smokers, you will be more likely to find an affordable rate. It is important to note, however, that not all life insurance companies are created equally. Therefore, even if a company claims to specialize in life insurance for smokers, it may give preference to certain types of smokers. For example, if you chew tobacco, you will be better served by a company that differentiates between smoking and chewing tobacco. While some companies may not view the two activities any differently, others may offer different quotes to chewers over smokers.
The bottom line is that the only way you will get the most affordable life insurance rates is to shop around. Even if one company rejects you because you are a smoker, it does not mean there is no coverage available. By shopping around and comparing quotes from companies that are based on your unique and specific situation, you will be better capable of selecting the company and policy that is right for you. Just be sure to thoroughly compare each policy and to read all of the fine print. Furthermore, it is a good idea to check into the stability and reputation of the company. This way, you can be sure your loved ones will be properly cared for if you pass away while your life insurance policy is in place.