#affordable life insurance
Affordable Term Life Insurance for Smokers
Term life insurance for smokers is double that of non-smokers. I know that quitting smoking is extremely difficult, so here is a much easier way to ensure you get the most affordable life insurance solution: Use an independent life insurance broker .
1. Compare many different companies- When it comes to term life insurance quotes for smokers. some companies are more aggressive than others, which in turn, means very different prices. An independent life insurance broker has the ability to quote over 50 different companies, so you are always getting the best possible deal. Every customer’s risk is going to be different depending on age, coverage amount, term length, etc. As a result, each customer is going to get rated differently by each company.
2. Important Facts Misconceptions regarding life insurance for smokers:
- “Transamerica is the best company for smokers”- I hear this from many potential customers who are smokers, but the truth is there isn’t one best company. When buying a policy, it comes down to that specific client’s needs, so different companies will offer everybody different rates depending on their aggressiveness. As a person’s risk changes, so do the companies offering policies. The prices below illustrate that different companies are best for different people. An independent broker always has your best interest at heart, so allow him to find the most affordable policy for you!
- Smokers CANNOT get Preferred Plus rates- It doesn’t matter how healthy and fit you are, if you smoke, you can’t get preferred plus rates. The most affordable life insurance rates a smoker can qualify for is a preferred smoker risk class. If you have been looking for motivation to quit smoking, think about the extra $500,000 you can leave your loved ones.
- Smokeless tobacco doesn’t mean Smoker rates- Just because you chew, dip, or use nicotine patches, you don’t have to pay smoker rates. There are a few companies who can offer non-smoker life insurance rates, and an independent broker can find these companies for you.
- Life Insurance for Cigar Smokers- Just like with smokeless tobacco, there are a few companies out there who will offer non-smoker rates to cigar smokers. Once again, it comes down to utilizing an independent broker and having them do the work for you to find you the best rates out there.
3. Pricing Example- To help illustrate the importance of using an independent broker and show you there isn’t one best company for smokers, I ran six different quotes. I compared quotes for a 35, 45, and 55 year old preferred best non-smoker and preferred smoker for a $500,000 20 year term: