Term Life Insurance Articles
How Smokers Can Find Affordable Life Insurance
2009-10-12
People who routinely smoke cigarettes or use alternative nicotine products may face challenges when seeking an affordable term life insurance policy. Because smokers have a greater chance of developing emphysema, cancer or other serious conditions than non-smokers do, many life insurance providers are hesitant to offer low payment premiums to habitual nicotine users. They see it as taking a higher risk that they will have to make a sooner payout. Fortunately, smokers do have several avenues available in regard to securing a life insurance premium that is reasonable in price. One option involves the decision to stop using nicotine products altogether, while another requires the smoker to carefully research and compare quotes from various providers.
Though the commitment to quit smoking is often difficult for people to make, those who greatly need the financial benefit of a reduced life insurance premium may find that this route is the most appropriate. Term life insurance policy applicants who are classified as non-smokers typically qualify for premiums that are half as expensive as those quoted to active smokers. According to insurance industry mandates, even after a person has stopped smoking, they are ineligible to apply for life with a non-smoker status until he or she has been nicotine-free for at least 12 months. Those who are able to stop smoking for this length of time prior to applying for a policy will have access to affordable insurance rates.
People who are unwilling or incapable of discontinuing cigarette, nicotine patch or nicotine gum use may still qualify for a life insurance premium at a manageable cost by following certain avenues. While a practicing smoker must be diligent in the search for a provider that offers an affordable long-term life insurance policy, the competitive climate of the life insurance market has encouraged many companies to lower their premium rates - even for smokers. Independent brokers can assist smokers in locating the insurance providers who currently offer plans that are beneficial in terms of financial savings and adequate coverage. With a good number of providers available, smokers should strive to collect a broad sample of quotes before applying for a policy. This will ensure they get the lowest rate.
Active nicotine users must bear in mind that dishonesty is never recommended when applying for an affordable life insurance premium. Though it may seem easier in theory for smokers to claim that they do not use nicotine products, many life insurance providers will insist on viewing medical tests and records that can easily prove otherwise.
Refraining from the practice of smoking cigarettes or comparing the rates of term life insurance premiums for smokers are ethical ways to obtain an affordable policy.
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People who routinely smoke cigarettes or use alternative nicotine products may face challenges when seeking an affordable term life insurance policy. Because smokers have a greater chance of developing emphysema, cancer or other serious conditions than non-smokers do, many life insurance providers are hesitant to offer low payment premiums to habitual nicotine users. They see it as taking a higher risk that they will have to make a sooner payout. Fortunately, smokers do have several avenues available in regard to securing a life insurance premium that is reasonable in price. One option involves the decision to stop using nicotine products altogether, while another requires the smoker to carefully research and compare quotes from various providers.
Though the commitment to quit smoking is often difficult for people to make, those who greatly need the financial benefit of a reduced life insurance premium may find that this route is the most appropriate. Term life insurance policy applicants who are classified as non-smokers typically qualify for premiums that are half as expensive as those quoted to active smokers. According to insurance industry mandates, even after a person has stopped smoking, they are ineligible to apply for life with a non-smoker status until he or she has been nicotine-free for at least 12 months. Those who are able to stop smoking for this length of time prior to applying for a policy will have access to affordable insurance rates.
People who are unwilling or incapable of discontinuing cigarette, nicotine patch or nicotine gum use may still qualify for a life insurance premium at a manageable cost by following certain avenues. While a practicing smoker must be diligent in the search for a provider that offers an affordable long-term life insurance policy, the competitive climate of the life insurance market has encouraged many companies to lower their premium rates - even for smokers. Independent brokers can assist smokers in locating the insurance providers who currently offer plans that are beneficial in terms of financial savings and adequate coverage. With a good number of providers available, smokers should strive to collect a broad sample of quotes before applying for a policy. This will ensure they get the lowest rate.
Active nicotine users must bear in mind that dishonesty is never recommended when applying for an affordable life insurance premium. Though it may seem easier in theory for smokers to claim that they do not use nicotine products, many life insurance providers will insist on viewing medical tests and records that can easily prove otherwise.
Refraining from the practice of smoking cigarettes or comparing the rates of term life insurance premiums for smokers are ethical ways to obtain an affordable policy.
