Smokers Life Insurance Rates are still affordable!

II'll bet that you didnt know that Smokers Life Insurance rates can still be affordable you just have to know who to speak to and which carrier to shop.Life Insurance actuaries could rate up the premium by 50% if you are a smoker or tobacco user in some respect. 

I will try to explain and present this in a simple manner so as to not cause any confusion

Most company underwriting guidelines want to see that you have not used any form of tobacco for one year in order for you to get Non Tobacco premiums.  That would typically be a Standard or Standard Plus Non Tobacco rating.By quitting your smoking habit for over two or three years it's possible to qualify for the best or close to best rates.Five years of more of being cigarette and tobacco free you could even get the very best rates the company offers.  That is if you qualify per the carriers guidelines on all there other health categories.

Below are quick guidelines for the rate class a smoker might obtain

No cigarettes or tobacco 5 years or more: Possible Best Quote
No cigarettes or tobacco 3 years or more: Possible Preferred Quote
No tobacco or cigarettes for overr two plus years: Possible Preferred or Stadard Plus Class
No cigarettes or tobacco 1 year or more: Possible Standard Rate Class

What this means to you is simply how much you are going to pay for your life insurance premiums, plain and simple.  Now if you still smoke well then you will simply have to qualify as a Smoker.If you dont quit smoking you're rates will be higher and thats the end of the story.  Ask yourself if the smoking is worth it while you are paying higher premiums.  Hey I'm not knocking you here I do chew tobacco on occasion and I used to smoke as well that's why I'm writing this post.All I want to happen here is for you to be able to get the best and lowest cost life insurance, period. 

Here is the good news, life insurance prices are especially term life are cheaper than they have been in years due to modern medicine extending mortality and the carriers competing with each and running a more efficient company.  So we all know how much everyone hates to pay insurance premiums but this is the one insurance the once you have it in force gives you a sense of (hard to explain) calmness?  Just knowing that you have it there does give you piece of mind, trust me I am speaking from my own experience.

So here is what you do, find a good Life Broker or Agent.You need to make sure they can represent multiple carriers!Your agent really should be appointed and ready to write business with a number of the top life carriers if not find another agent.  Ask them if they work with a BGA (Brokerage General Agency) that has a multi-carrier platform.It's possible to get some weird vibes from your broker now because they know now you know what your talking about.You should and need to get a number of separate quotes and from different brokers!

When it comes to Term Life Insurance premiums a lot of the time how much does it cost you will drive the decision on the carrier.You should purchase the most you can absolutely pay for and really now stop the smoking!