There is no doubt that it is harder to find life insurance when you are a smoker. This is because of the health risk insurers know it poses to policyholders. This is not to say that it is impossible, it is just harder to find a competitive rate when the price is affected by pre-existing health risks.
Below, we shall look at the particulars of a smokers life insurance to understand just how someone who does not want to give up this pleasure in life can obtain life insurance without paying astronomical amounts of money for the protection they want for their families.
Tests
Although many insurers will work on the basis that a declaration on an insurance form is truthful, with life or health insurance they can ask for saliva or urine tests when they suspect a policyholder is being less than truthful. As well, they might even decide to contact a GP to request a medical history, to expose whether someone has smoked in their lifetime.
There is no getting around the fact that you need to tell your insurance company everything if the insurance is to be paid at the correct premium and be worth the paper it is written on.
Many insurers will require policyholders to have a health exam to be sure they can insure them without undue risk. Nothing can be hidden when this needs to take place to secure life insurance.
What Constitutes a Smoker in the Eyes of an Insurer?
Smokers, as classified by health insurers, will be someone who uses a tobacco-based product four times or more during the past six months. Anyone not being honest about this will run the risk of finding themselves charged with insurance fraud.
There is no doubt that a hefty premium surcharge is likely for a smoker, but then you can still shop around to mitigate the amount. It just becomes harder when insurers are not that receptive to smokers. It is well worth finding a competitive solution, though, to make life insurance affordable and possible for peace of mind.
Shopping Around and Competitive Rates
It is far easier shopping around for any kind of insurance than it ever used to be. The internet has made it possible to compare prices between those offering life insurance online and to also read reviews of insurers (see this matrix direct review) so we can quickly establish who is a good fit. In addition, searches can quickly find life insurers and establish those that are offering the best premiums when it comes to smokers wanting to insure.
The best way to find a competitive quotation when you are a smoker is to seek out the life insurance policies designed with smokers in mind. They are specifically for smokers, so you will not find yourself paying the lion’s share of a premium that is being shared by all the people taking out life insurance.
Health insurers have identified that many people continue to smoke tobacco products but still need life insurance for the sake of their families.
It is comforting to know that the task of finding life insurance when someone is a smoker is not an impossible one. Also, it is being made easier by the fact that insurers are producing policies that are specifically constructed for the policyholder who has no desire to give up the pleasure smoking provides them with. It is a stress reliever and one of few pleasures for some. Insurers are aware of this as well as the need for life insurance to protect loved ones, should the unthinkable happen.
