What You Need To Know When Buying Smoker's Insurance

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Your health and lifestyle will play a major role when buying insurance and you need to get all the information available so that you get the best deal. If you are a smoker, you need to know that this will work against you when buying insurance.

One of the things insurance providers consider is your risk factor and if you smoke, you are considered high risk. As more information becomes available about the negative health effects of smoking, insurance providers charge higher premiums to smokers who are considered to have a lower life expectancy.

High premiums

The average smoker will pay higher premiums than a non-smoker and this is something that frustrates many smokers. The best way to reduce your premiums is by quitting the habit but if you are unable or unwilling to do so, you can evaluate the options available to get the best offer. If you are a smoker, you can get smokers insurance from different companies.

Life insurance companies consider different factors when providing rates for an individual and some of these factors include age, health, hobbies and lifestyle. Smoking tobacco is a lifestyle that will see you pay more for insurance because statistics show that smokers have a higher chance of getting lung cancer, heart disease and other medical conditions that can increase the chances of an early death.

Higher risk rating

Insurance companies assign a higher risk rating for smokers, which raises the premium they pay on term life insurance. This rating is referred to as standard rating and the amount each individual will pay will depend on a number of factors including the applicant's age and the presence of other health conditions.

Someone who is a smoker and has an existing medical condition will pay very high premiums. While it is possible to get the insurance, it comes at a very high price tag.

Shopping around

Just like with other policies, different insurance companies will specialize in insuring particular risk categories. It is very important to shop around among different carriers so that you can get the best rate. It is possible to find carriers who will offer you the policy at a much better rating.

It is important to realize that insurance companies often treat different types of tobacco use differently. This means that there are different categories for cigarette smokers, pipe smokers, those who chew tobacco and others.

If you have recently quit smoking, you should inform the insurer. If you quit the habit a year or more ago, you can get the same rates as a non-smoker.

We provide the best info about buying Smoker Life Insurance. For further details on this topic, click here!

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