Finding smoker life insurance policies is quite challenging, but finding reasonable premiums can seem even harder. Smoker's life insurance policies carry much higher premiums in general due to the inherent health risks of smoking. However, there are options. Whether a person uses cigarettes, cigars, or a pipe or chew tobacco has an effect on the quotes one will receive since rates are evaluated on the types of tobacco products consumed. If an applicant is a former tobacco user, rates will also be based on the length of time since the applicant quit smoking.
Generally, a person will be not be eligible for nonsmoker policies if they have used any type of tobacco product in the last three years, including cigarettes, cigars, and chewing tobacco. When applying for a policy, all applicants will be asked if they do or have consumed tobacco products in the last 3 years. Even if a person rarely smokes or has been smoke-free for over 2 years, it is important to answer this question honestly. If it is proven later that an applicant has provided inaccurate information, all benefits of a policy will be void. Simply answering yes to this question will not eliminate applicants from possible coverage and will not necessarily mean high premiums, but the insurance company will set the policy rate according to the applicants habits and inherent health risks. Smoker's life insurance standards include any who simply enjoy a cigar from time to time or smoke just a couple cigarettes year.
Both nonsmoker and smoker life insurance rates reveal the preference given to non smokers. A preferred non-smoker person will pay around $100 to $120 a year for a $100,000 life insurance policy, while a tobacco user, despite being healthy, will pay between $280 and $300. Since smokers pay nearly three times the premium for a coverage, there is obvious reasoning for some people to lie on their non smoker's life insurance policy applications. If a company finds out that an applicant has lied; however, all current and accumulated benefits will be forfeited. It is essential to be honest and look for providers who specialize in smoker life insurance underwriting. The Ninth Commandment warns Christians against lying, and this provision applies to all areas of our lives, even when telling the truth is more expensive.
The key element that changes the rates for smoker's life insurance policies has to do with the frequency of smoking and tobacco use or the length of time is since last used. Interestingly, there can be a difference in the rates between women and men. Smoking does increase ones health risks, making it even more critical for smokers to find adequate life insurance, even if the rates are higher. Anyone who has dependents must insure that they will be protected in the event of a tragedy. Finding a reasonably-priced policy may seem difficult, but utilizing the Internet to do so can help tremendously. Perhaps the higher prices will even be an incentive to quit smoking.
For more information: http://www.christianet.com/lifeinsurance
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