If you are a smoker and looking for the cheapest life insurance, then you’ll find our guide extremely useful. Aside from helping you find the cheapest life insurance options, you’ll find that our tips are designed to help you cut premium costs even further!
We all know that smoking as bad for the health. Therefore, a life insurance company will always charge you more for a life insurance policy than that of a non-smoker. As you can imagine, the health risks associated with smokers are treated very seriously by insurance companies and therefore, you may find that a life insurance monthly premium could be up to one third more expensive than a policy for a non-smoker. This is due to the risk of being critically ill much higher than a non-smoker’s.
However, if you have stopped smoking and opted for a healthier lifestyle you can potentially lower the cost of life insurance.
Therefore, give up and save!
An insurance company more often than not will treat you as a non-smoker if you have not smoked for the 12 months prior to application (this includes nicotine patch use). Therefore, in no time at all you could be feeling better but also saving a lot more.
Telling the Truth…
If you are a smoker looking for life insurance, it is vital that you tell the truth about your smoker status. This is because if you don’t and a future claim results in checks within your medical records you could end up with a void policy which will pay nothing out.
Therefore, it’s important to be up-front and tell the truth.
While it will make you a higher risk for life insurance you are at least being honest and maybe the desire to save money will encourage you to quit for good! After all, you could save up to 50% on your life insurance premiums by doing it.