Are you trying to find reasons to keep it New Year's resolution? You may have thought it would be a reason to quit smoking to be a healthier version of YOU, but now it's getting harder. Well, we have more motivation for you – your life insurance.
Some recent research sources estimate that the difference between a non-smoker and a smoking middle-aged man trying to buy life insurance can be as much as $ 2000-4,000 dollars. This is because life insurance policies will inevitably provide better rates to customers who are considered low risk. With this in mind, many companies are willing to insure the smoker, but for almost double or sometimes triple the cost of a non-smoker.
Keep in mind, however, that even if you quit smoking today after reading this article, it is unlikely that your insurance premiums will decrease in the near future. Most life insurance companies will still consider you a smoker if you have smoked in the last 1
If you have been thinking about not just telling your life insurance company about your smoking habit, you may want to think again, as many companies will require you to have a medical examination before you insure. Other companies do not need a physical examination until you reach a certain age, and if the company finds out that you have been a smoker all the time, your insurance may be lost.
Remember that the premium increase for smokers does not & # 39; Just stop with basic life insurance. They almost always spread to health insurance premiums and will definitely be spread to long-term care insurance .
It is easy to say that smoking only affects you and your health, but remember that it can also affect you financially, making it difficult to even get yourself. affordable life insurance.
If you are a smoker, have recently stopped smoking or have a loved one who smokes, please contact us if you have questions regarding life insurance and premiums.