Smoking and Life Insurance... Not All Is Lost

            The cost of smoking has risen over the past years and with the economy people are just not able to afford smoking. But this is a good thing! Not only does smoking put a major dent in your wallet but it also is very hazardous to your health. Smokers, more than other clients, will be more likely to suffer a serious illness or die as a result of the habit. This means that life insurance companies know there is a higher standard of risk involved when offering a smoker life insurance.

            If you are a smoker, you must understand that you will be quoted at a higher cost because policies are taken out over the long term. But don’t think about bending the truth when applying for a policy, the best thing to do is be honest. If a person says he/she is a non--smoker on their policy when they are in fact a smoker, they run the risk of their policy being declared void or even fraudulent.

            But don’t worry if you are a smoker, this does not mean that your chances at affordable life insurance is lost. First off, most providers assess cases individually and some companies also differentiate based on the amount of tobacco consumed. In this case, they will charge moderate users less than heavy users. Second, the number twelve. It takes twelve months to gain a better life insurance quote. After a year of non smoking, life insurance companies start to class you as a non-smoker and therefore can results in premiums being 50 percent lower. Of course cheaper premiums is not a certainty, it depends on ages and health. But by ending the habit, you have a better chance of this.

            The best thing to do, be honest, then drop the habit and once done, let your insurance company know right away. At John E. Peakes Insurance Agency, we will do our best to get you the best life insurance rate possible. We want to make sure you are not paying an arm and a leg to be insured. We wouldn’t want to, so why would we make you?