Cheap Life Insurance For Smokers

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Reader’s Question:

How much can I expect to pay for in terms of life insurance premiums here in New York if I smoke regularly?

Caitlin

Islip, NY

Admittedly, you would pay much more, about three or even four times more, for life insurance coverage if you are a smoker. Of course, the actual rates will still vary depending on who you choose to provide your life insurance coverage there in New York. As a general example, suppose you get a term life insurance (a form of temporary life insurance coverage) with a death benefit or face value amount of $500,000 over a twenty-year period. You would pay roughly around $27 to $37 on monthly insurance premiums if you do not smoke, as compared to $60 to $80 or more for being a smoker under the same kind of coverage or policy.

You may already know that smoking can cause your lifespan to shorten. What some people don’t realize though is that life insurance companies actually make more business over those who have a higher-risk of dying early since they can charge more. But they charge more because there is a higher probability that they would have to pay death benefits.

If you do decide to stop smoking you, you can definitely look forward to lower life insurance rates after about two to three years of quitting. Most life insurance providers are flexible enough to get your rate down to a non-smokers rate once you are able to demonstrate that you have kicked-out your smoking habit and advocating a healthier lifestyle.

Cheap Smoker Life Insurance

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I have decided to purchase a life insurance policy but a smoker, are their existing coverages for me which has low premiums? By the way I am in my 40s living in Joliet Illinois IL.

Ben

Joliet, IL

Hey Ben, how are you?

Yes there are existing coverages for smokers like you. Though you will only pay a bit more in availing term life insurance, there are loads of policies that are in tuned to every budget, lifestyle and age. Why not compare policies among the various companies in Joliet, IL.

Different companies have different perceptions of smokers. Some analyze on the frequency of smoking, such as moderate and heavy usage. Moderate users are charged less. Other companies give classification based on standard and the preferred health condition.

Users which fall under this classification are those that smoke but still in good health. Companies may check out their weight, cholesterol, and blood pressure.

When you apply for term life insurance there in Joliet Illinois IL however, you will be medically examined and the company may administer a test where the levels of cotidine- a by produce of nicotine is measured in your urine and saliva.

Getting a 10-year term is enough provided you want to retire soon as opposed to the conventional 20-year term. This way, you can save money on premium payments.