All insurance companies will charge higher premiums for any life insurance policy contracted by an individual who either smokes cigarettes or uses tobacco in any other form. The reason why this happens is simply statistics. Smokers have a higher risk of developing diseases that will require medical attention, so insurance companies have higher chances to lose money on such policies.
As smokers and other tobacco users have on average a shorter life span than the general population, they are perceived as a high risk group by insurance companies, thus their premiums are higher for the same coverage, compared to the average person.
If we look back in time a little bit, we see that before World War II, lung cancer was almost unknown, even among doctors. People suffering from it were very rare. At the same time, smoking tobacco cigarettes was not such a widespread habit like today.
During the war, smoking gained a lot of popularity and soon it became the new fad. Everybody smoked, actors in movies were shown smoking cigarettes, it was such a fancy habit one could not ignore if they wanted to be perceived as modern and cool. With this habit, lung cancer also came and brought a lot of early deaths, making doctors start question this new habit that put the whole world on fire.
Getting Life Insurance as a Smoker
It has been demonstrated that smoking can lead to an increase of the blood pressure and to a weakening of the heart muscle. Smokers who want to get a life insurance policy should quit smoking and stay clear for at least one year before they can enjoy smaller premiums. If you are a smoker and you get life insurance with the big premiums, you can still let the insurance agent know about the fact you quit, but you’ll need to wait 12 months since the day you stop smoking before applying for a reduction of your premiums. There are also agents like Taik Insurance associates who specialize in getting lower rates on life insurance for smokers.
If you didn’t know it, find out that it surely pays off to contract life insurance as a non-smoker. Smoker rates can be as much as 40% higher, so it’s easy to do the math and take the right decision.