How Does Smoking Affect Life Insurance Prices?

Quit-Smoking-CigarettesTypically, when you start to compare online life insurance quotes, you will find that life insurance companies request an accurate assessment of habits and activities that could possibly affect your longevity. With this in mind, it should be obvious that most life insurance policies require disclosure about tobacco or nicotine intake. Being a smoker will have significant influence over the type and cost of life insurance cover you will buy.

Of course smokers will have to pay much higher life insurance premiums compared to non-smokers. This is because mortality rate for smokers is statistically higher compared to non-smokers. Life insurers intend to compensate for possible risks of extending a smoker’s policy due to the possibility that the individual would get ill or die from smoking-related causes.

Some life insurance providers could take a different method of assessment for smokers. It is possible that they may focus on the amount of nicotine or tobacco you have consumed. There could be specific classifications of smokers to differentiate habitual and heavy smokers from light or occasional smokers.

Some insurance providers have chosen to categorize as an occasional or celebratory smoker an individual who smokes just about 12 cigars annually. A heavy or habitual smoker is an individual who consumes tens of cigars per day. You could be categorized as a non-smoker if you have not smoked for at least 12 months.

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