Life Insurance for Smokers
Smokers looking for low cost affordable life insurance are in for tough times. Smokers are included in the high risk category for the most obvious reason. Hence smoking and high insurance costs go simultaneously together. Any form of nicotine consumption or tobacco products would result in you being included in the high risk category. Pipes, cigar, chew, nicotine gums, snuff, cigarettes, nicotine patches and dips are regarded as tobacco products by most life insurance companies, if not all. Usage of any of the previous automatically invites higher premium amounts. Smokers face a higher probability of lung disease, heart disease, cancer and other cardio vascular problems than an average non smoker. Thus, insurers charge more to insure the life of smokers.
Your smoking habit has an impact on the premium determined also. If you are a regular smoker and smoke daily then you will be included in the highest risk premium category. You would be a social smoker if you smoke with friends at parties or a couple of times in the week. However if you smoke once in a while, just randomly couple of times in a month or so then you would be included in the occasional smoker category. Regardless of the category of smoker you fall in, you will be paying higher insurance costs than a non smoker. Nonetheless an occasional smoker might be able to manage some discounts from the insurer as they pose relatively lesser threat to the company than the daily smokers.
Just because you know that you have to inevitably pay a higher insurance premium do not sit back and agree to pay any exorbitant sum. The best way to strike a good deal would be to do life insurance shopping online. You can browse through dozens of companies and look at the offers they are providing. You may also come across some life insurance companies which specialize in high risk insurance categories. The advantage of shopping online is that you have free access to numerous life insurance quotes to choose from. Once you have short listed some of the best offers insurers provide, move on to a side by side comparison. Life insurance comparison includes three major criteria prices, coverage and insurance industry rating. Naturally one would opt for a life insurance quote that charges you least. Follow this up with the coverage provided by the company. It is better to give out a few more dollars for a better coverage than to end up with insufficient coverage by companies that cater to customers looking for the cheapest options. You must also check on the reliability factor of insurance companies through independent websites like “Standard & Poor’s”.
It is definitely a time consuming process to do so much research and analysis. But you must remember that it will be worth the time spent. After all you would be able to manage to get an affordable insurance policy. Finally you might find motivation to quit or reduce tobacco consumption when you realize the high price you are paying for it.
