Life Insurance for Smokers- Learn How You Can Lower Your Rate

If you are shopping for life insurance and you're a smoker, you should consider how smoking affects your rates. There are several things that carriers look at when determining your life insurance premium. The biggest factor, and the most obvious one, is your age. The older you are, the more you pay. Your smoking status is another big factor. It's not a surprise that someone who smokes will pay more for their life insurance, but how much more? If you do a side by side comparison on quotes for life insurance, then you’ll see that a person who smokes will typically pay two to three times more.

The simplest way to have lower life insurance premiums is to quit smoking. Of course it isn. Do the math on how much you can save by not smoking, you'll see that it's a lot of money. You can easily pay ten, twenty, or thirty thousand dollars more than a non-smoker over the life of your policy. That's a lot of money.

If you make the decision to quit smoking, then you can't quit for just a week or a month. You will need to be smoke-free for 12 months in order to qualify for non-smoker rates. If you currently have life insurance and you pay the smokers rate, some companies will lower your rate if you quit smoking. You'll have to go through a medical exam to verify your smoking status, but the savings will be more than worth it.

If you don't think you can stop smking, then it is still important to get the lowest rate possible as a smoker. It pays to to shop around because some companies are more favorable to smokers than others. So whether you are looking for term life quotes or whole life quotes, be sure to do some comparison shopping first. There are many websites online where you can give a little bit of personal information and compare quotes from multiple companies. Be sure to speak with a knowledgeable agent. He or she can give you a bit of guidance on which companies have better rates for smokers and your overall situation.