Insurance Rates for Smokers

One of the biggest factors in making a decision about purchasing a life insurance policy is the price. When insurance companies determine the rate of an insurance policy, they include health, medical history, age, lifestyle and whether or not you smoke in the calculation.

Smoking is an important consideration because, due to the risks of cancer from tobacco usage, smoking increases your rate of mortality and puts you in a riskier category for an insurance rate.

Smokers request a life insurance quote today!

Life Insurance Rate Classifications

Your insurance premium is determined by which rate class you fit into. Rate classes take into account medical conditions, health history and lifestyle, including whether or not you are a smoker. Generally, the classes are called “preferred (non-tobacco),” “standard (non-tobacco),” “preferred (tobacco),” and “standard (tobacco).” These classifications may vary among insurance companies, but you will receive a better rate as a healthy non-smoker.

Life Insurance Premium Amounts

According to an article on the MSN website (Money section), they searched online quotes for a 20-year term life insurance (a $500,000 policy) for a healthy 44-year-old male. The range for a non-smoker was $695 to $2,250 in premiums per year; for someone smoking a pack a day, the prices were quoted as high as $4,495 per year. This illustrates how smoking can greatly impact your premiums.

Kicking the Habit Pays Off

The good news? If you quit smoking for at least three years, most insurance companies will rewrite your policy and make an adjustment to your life insurance premium. Be advised that you will have to be tested for nicotine and have a doctor provide proof that you are smoke-free.

To find the best rate available, shop around to see what you are likely to pay as a smoker. Start with our quote form for a free assessment of your life insurance policy.

Life-Insurance-Info.us is not a life insurance broker or carrier, and cannot issue life insurance policies. This site provides free information on insurance providers and coverage options. We are not associated with the companies profiled on Life-Insurance-Info.us and we make no representation, express or implied, that you will receive a quote from a specific company profiled herein. Products and policies may not be available in all states, and product and policy information is subject to change without notice. Please contact the insurance company directly to answer your policy inquiries.