You Mean It is Going to Cost More Because I Smoke????

I really think they are probably faking the shock and amazement when they find out they don’t get those life insurance rates advertised everywhere, because those are non smoking rates and they smoke. Surely they’ve slipped up at least once and read the old warning on the pack that says smoking has NOT been linked to great health and longevity.

Even the most even handed companies will charge twice as much for a preferred smoking rate as they will for a preferred non smoker. Some are three times more and I’ve seen some companies with smoking rates four times higher. I’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 stroke and just to make the point clear, smoking and etc, etc, etc, etc………..

What I find amazing is that 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. I’m all for people getting great rates, but it seems to me that the companies are shifting some of the risk burden to those who have taken good care of themselves all their life just so they can reward someone who finally figured out one of the basics.

Just my opinion of course, but my blog, my opinion. I suspect there are a few smokers and ex-smokers out there that will take exception. Bottom line, keep smoking and your life insurance rates will be appropriately high.

This post is somewhat dated. Life insurance underwriting is changing and evolving continually. For more updated information check out some of the key word links. If you have a specific question or topic you need information for do a search. If you don’t find the answers you need contact me and we’ll make sure you get the information that is important to you.