Life Insurance Advice for Smokers- Things You Need to Know

When you're a smoker, buying life insurance advise at all can be very tricky. However, you do have options if you are willing to take the time to look and see what is out there. If you do find a standard life insurance policy, you'll probably risk paying higher premiums simply because you are a smoker. As most people know, smoking increases the risk of lung disease and cancer, and it is bad for overall health. Therefore, you are a greater risk to the insurance companies when you smoke, which is why you'll pay higher rates.

Typically, smokers pay about three times what the same non-smoking person would pay for life insurance. Of course, if you're otherwise healthy (exercising, eating right) you will pay less than someone who smokes and doesn't otherwise appear to be healthy. Here is some life insurance advice for smokers:

-A smoker, by life insurance company definition, is anyone who smokes tobacco at least once a year. While this might be a gross exaggeration, a medical examination will help to deem you healthier if you are only an occasional smoker as opposed to someone who smokes two packs a day.

-NEVER lie to an insurance company. Paying a little more and getting coverage is far better than getting your life insurance cancelled or being charged with insurance fraud for trying to tell a company that you are not a smoker when, in fact, you are.

-Don't put non-smoker if you smoke even just occasionally. If you refer to the definition above, you are a smoker if you smoke even once a year. If the life insurance company finds out that you do smoke, they will raise your rates to the smoker level. If you die and they find out that you smoked, the excess premium will be taken from your death benefit before it is paid.

-Those who have not smoked in five years or who have never smoked at all can be in the non-smoker category. If you take up smoking after the policy is issued, the other cheek is usually turned unless you apply for more coverage or change your policy, at which point you will have to pay smoker rates.

This is some helpful life insurance advice for smokers. It's not easy dealing with something like life insurance when you are inherently a higher risk, but doing things correctly can save a lot of hassle, money, and potential legal repercussions in the long run.

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