Tobacco Life Insurance Plans
Are you a Tobacco user or if you smoke and are searching for the best priced and affordable term life insurance you will find some great tips in my article. Life Insurance actuaries could rate up the premium by 50% if you are a Smoker or tobacco user in some respect.
Typically if you smoke or use tobacco the life carriers will require you to not have used any form of tobacco for a year or more to get the best rates. If you have smoked within a year that would typically be a Standard or Standard Plus Non Tobacco rating. Two to three years with no tobacco and it is quite possible to obtain non Tobacco User ratings on your policy, which will save you a great deal of money.After five or more years with no tobacco and all other health qualifies you may get the very best rate class available from the life companies.
Here is a sample of potential rate categories for smoking and life insurance:
No Tobacco three years or more - Potential Preferred Quote:
No Nicotine 2 plus years - May qualify for Standard Plus Rates:
No cigarettes or tobacco 1 year or more: potential Standard Rate Class:
How this affects you is by how much money you eventually end up paying for your insurance policy premiums and rates. Now if you still smoke well then you will simply have to qualify as a Smoker. But if you do not plan on quiting or have quit you will have to just end up paying the Smoker Rates on your new plan. Ask yourself if the smoking is worth it while you are paying higher premiums.
On a positive note you should realize that term life insurance prices are at their lowest levels in years due to mortality tables of people living longer and modern medicine. No one likes to pay premiums on any kind of insurance I imagine so when you have this over and done with I'm sure you will have a weight lifted and you can move on to more productive items in your life.
Your first action is to now find a highly qualified life agent or broker to help you find the best policy. Make sure you ask your agent how many life insurance carriers they represent. 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 potential to get some weird vibes from your broker now because they know now you know what your talking about. Another avenue is to speak with multiple brokers or agents and get multiple quotes from each one of them.
Deciding on the right company to apply with might come down to which carrier offers the least expensive premiums for your desired face amount. Buy as much as you need and can afford since term life is the cheapest coverage to start with initially.
Find out more and other resources about Tobacco Life Insurance plans and policies.
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