Smoker Plans

We all know the dangers of smoking, but smoking carries with it more than health risks - it also makes it more difficult to find affordable insurance plans.

Generally speaking, a smoker can expect to pay at least double and in some cases even triple the amount for health and life insurance than a non-smoker can expect to pay. This applies to people who smoke multiple packs a day as well as to those who only smoke on occasion. For example, one company quoted a 40-year-old male smoker $2,320 for a 30-year policy, while the non-smoker on the same plan would pay just $820 for the same policy, a savings of up to $1,500 each year.

I'm a Smoker. How Do I Find an Affordable Policy?
Because millions of Americans smoke, insurance companies understand the importance of providing affordable life insurance policies for those who smoke. While you can expect to may more than a non-smoker no matter where you go, it's still a good idea to shop around for the best policy. Insurance companies compete for business among smokers and non-smokers alike, so there are deals to be had.

When shopping around for a policy, it's important to take a number of factors into account. How much you smoke, what you smoke, and how long you have been smoking, in addition to the presence of other risk factors in your life such as obesity, can greatly influence your rate. In addition, it's important to find out, should you quit, how long you have to be smoke-free before being considered a non-smoker and receive substantially lower rates.

Who Is Considered A "Smoker?"
It is important to note that a smoker is considered anyone who uses a tobacco substance. So you may never smoke cigarettes, but you do chew tobacco. You would still be considered a smoker and put on that policy.

Each insurance company varies in how they determine a smoker from a non-smoker. All insurance applicants are required to undergo medical exams when applying for a life insurance policy, and each company will determine how much, if any, nicotine traces found in the urine qualify the applicant as a smoker. Some companies say any amount of nicotine found in the urine qualifies the applicant as a smoker, and others don't count the trace tobacco found in samples that come as the result from the occasional cigar or chaw.

Many companies divide cigarette smokers into a "preferred" or "standard category based on the amount of cigarettes smoked, and again, each company varies in terms of how they differentiate a heavy smoker from a light smoker. If the applicant is not overweight and does not have any other risk factors, such as high blood pressure or diabetes, he or she may fall into the "preferred" category.

What If I Quit?
If you were once a smoker and have quit, you can expect to get a break in your insurance. Again, the allotted time a person must be tobacco-free in order to qualify for non-smoker rates depends on the company. As a general rule, however, it's at least one year. Some companies also provide the option of a graduated pay scale, dropping rates for each year you stay smoke-free.

Some insurance experts recommend shopping for a new life insurance policy after being smoke-free for at least a year. This could qualify you for preferred and standard non-smoker rates, resulting in savings of over $100 every month on your policy.