Sep
27
Tobacco and Life Insurance Rates
Filed Under Life Insurance
Some of the largest life insurance carriers have made underwriting easier if you use tobacco other than cigarettes and is more affordable. The carriers have decided that cigarettes have a much higher effect on your mortality over chew, cigars or pipes.
Chewing tobacco life insurance
What this means to you is that it is possible to find truly affordable Chewing Tobacco Life Insurance, Term and or Permanent Life Insurance coverage that wont break the bank. Chewing is not as bad as smoking with a number of the best life insurance companies and you may qualify for non tobacco premiums. The premiums for chewers can be quite a bit less than smoker rates if your carrier will go non smoker for chewers.
If you are a smoker or chewer you should contact your local life broker/agent or go on-line and do a search for a professional. Get in contact with a life insurance brokerage that is a multi-carrier agency which represents 10 plus of the largest life insurance carriers with good tobacco rates. The great thing about brokerage agencies is that they have up to minute access to the carriers that offer the best quote and rates. Sometimes an agent will be a captive agent meaning they only sell one carrier then you will have to bide to only one carriers smoking guidelines.
Most company underwriting guidelines want to see that you have not used any form of tobacco for one year in order for you to get Non Tobacco premiums. That would typically be a Standard or Standard Plus Non Tobacco rating. If you have quit for two years up to three years then you may qualify for Preferred Rates. If you can stick it out for five years of no cigarettes you will be rewarded with the very best rates that is if you qualify medically.Remember though you still need to qualify your health based on all the other health guidelines that the carrier will be underwriting you on.
How this relates to you is that it will give you a great idea of how much money you will end up spending on your new life insurance policy. Now if you still smoke well then you will simply have to qualify as a Smoker. If you don’t quit smoking you’re rates will be higher and that’s the end of the story. Ask yourself if the smoking is worth it while you are paying higher premiums.I’m am not judging anyone because I do chew tobacco on rare golf outings or fishing and I smoked cigarettes in the past also, so I know how expensive the cost can be. I want you to be able to find quality low cost insurance to protect you and your family or business.
How to find the best Tobacco Term Life Insurance plans
Next step in the process is first locate an experienced life insurance agent or broker. Ask and insist that they have at there disposal at least ten or more of the top carriers! If they are not appointed with at least ten companies ask them why and make sure the answer is really good. Talk to your agent or broker and see if they work with a Brokerage Agency or BGA and have access to multiple carriers. It’s possible to get some weird vibes from your broker now because they know now you know what your talking about. Having more than one life insurance agents or brokers illustrate you a couple of different quotes is beneficial!