People act shocked and amazed when they find out they donâ€™t get those life insurance rates advertised everywhere. I think somewhere inside they knew it would happen because those are non smoking rates and they smoke. And all that flashed fine print on the insurance ads can hardly be seen through the smoke. Surely though, theyâ€™ve seen the warning on the pack that says smoking has NOT been linked to great life insurance rates.
Even the companies that are actively seeking smoking clients will charge twice as much for a preferred smoking rate as they will for a preferred non smoker. Some are three times more and there are a few trying to send a message with rates four times higher. Iâ€™m thinking the underwriters at those last two sets of companies may have read somewhere that there are statistical links between smoking and cancer, smoking and heart disease, smoking and etc, etc, stroke, etc, etcâ€¦â€¦â€¦..
Some life insurance companies will allow a person, who has smoked for 20 or 30 years, quit for 12 months and get preferred non-smoking rates. I know they say that damage from smoking starts to reverse itself shortly after you stop smoking, but all the way to preferred in one year. Iâ€™m all for people getting great rates, butâ€¦. it seems to me that the companies are probably charging non smokers too much to start with if they will allow that kind of underwriting.
Bottom line. I suspect there are smokers and ex-smokers who might not jump on to my bandwagon. My suggestion. Quit smoking and go grab those preferred non-smoker rates before those companies come to their senses.