A smoker’s life insurance options

Higher premiums are usually in store when it comes to getting life insurance if you are a smoker. At least this holds true for those under the age of 50. For adults in their 20s, 30s and 40s standard life insurance policies are available just as they are for everyone else. How healthy you are will be a large factor in keeping your premiums life insurance options for a smokerlow, but for those that smoke, the insurance rates can be significantly higher. Also, the rates are for those that smoke cigars as well as cigarettes. Cigars are seldom inhaled, but to an insurance company they will count as smoking. Whether you smoke cigarettes or cigars, your first option is to get a regular life insurance policy, but you will pay more for your premiums.

If you are over the age of 50, you can get a low cost life insurance policy with no medical questions asked. In fact, there will be no requirement for a physical. This type of policy will not pay much in the first couple of years, but after that, it will pay in full if you die. This type of policy can be a great deal, but the one drawback is that it is only available to those in a certain age bracket.

A third option is to quit smoking. This is obvious, but it needs to be said. One thing to keep in mind is that an insurance company will want to know when your last cigarette was smoked. If you have smoked in the last year, they may consider you to be a smoker. Each company has their own methods to compute premiums. However, the sooner you quit the sooner you will be able to enjoy lower cost life insurance.

People may think there is a fourth option. You simply lie on the application. Make no mistake, this is not an option. It is insurance fraud, and you can go to jail. Naturally, if you are found to have been a smoker after you have died, there are no consequences. Your family, spouse or beneficiaries will suffer when they are denied money they should have received from the policy. All you did was pay premiums for nothing. Always be honest on your life insurance application.

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