E-Cigarettes and Smoker Life Insurance

Written by Strahan Financial Services

Affordable Life Insurance for Smokers!

E-cigarettes and smoker life insurance are available.  If you have compared costs for nonsmokers against costs for smokers, you know that the prices for smokers are higher. Life insurance companies consider insuring smokers riskier do future health rated issues. Smoker’s life spans are ten years less than a person that does not smoke. When you take that into account, insurance companies are more likely to have a claim to pay.  Thus, the higher rate for insurance.

However, you can secure nonsmoker rates if you use nicotine. You will also find us listed as an agency in Term4Sale.

The catch is you cannot have smoked a cigarette in the last year, 365 days!

Any dip, chew, snuff, nicotine gum, e-cigarettes, etc. will get “nonsmoker plus” rates.

When applying for the coverage and taking the physical, you must admit to smoking.

When it comes to smoking, every life insurance company has different smoking restrictions.  Some restrict cigarette use to smoke-free for two years for the nonsmoker rate. Five years is standard for other companies.

Note: Someone who uses marijuana can also receive nonsmoker rates.

Standard Plus NON-SMOKER for Smokeless Tobacco Use!                           

After you calculate your life insurance needs, consider this Illustration, and note the savings.

A male 35 years old who has been vaping for at least one year applying for a 20-year level term policy. The annual savings are enormous!   

Benefit Amount         $100,000       $250,000       $500,0000

Vaping rate                  $326              $465              $845

Preferred Tobacco       $426              $803              $1,516

Tobacco                       $539              $1,109           $2,067

 

When you look at E-cigarettes and smoker life insurance rates, only one company offers these non-tobacco rates! Any dip, chew, snuff, nicotine gum, e-cigarettes, etc. will get “nonsmoker plus” rates. (this is the third-best rating) Again, this is assuming you haven’t smoked cigarettes in the past year. If you have smoked cigarettes in the last 365 days

Consider an ART (Annual Renewal Term)

If you have smoked cigarettes in the previous year, there is another solution.  Apply for an annual renewal term (ART). After the year has passed, apply for the nonsmoker rates.

The cost of the annual renewal term is significantly lower even though insurers do not offer preferred rates. You are only asking for coverage for one year.

Take into consideration that after a year, the premium will increase because you are one year older.

Preparing for a Medical Exam is Essential

Keep in mind other factors will affect receiving E-cigarettes and smoker life insurance rates.  These factors are having a current and past history of good health, a family history not involving cancer or heart disease in the immediate family, and a clean driving record.

Any of these factors will affect the rates quoted.  However, the rate you will receive should be better than any of the tobacco rates.

It is vital not to fail to inform your examiner that you are a smoker and use an e-cigarette before taking the exam.  Failure to do this will put the results in a tobacco category with higher premiums. The insurer will not then go back and offer a non-tobacco rate.

Additional information is available on what companies are testing for and what to avoid before taking the exam. To qualify for the best results, check my post on How to Prepare for a Life Insurance Exam.

Why Use Strahan Financial Services

  • We are professional.
  • We are knowledgeable.
  • We use the latest technology to make the process quick and straightforward.
  • We are customer-service driven.
  • We will earn your business.
  • We will over-deliver on your expectations.
  • We want to earn a genuine “Thank you!” at the end of the process.
  • We use only top-rated, financially strong, well-known companies with an excellent reputation for paying claims promptly.

about Strahan Financial Services

About Strahan Financial Services
About Strahan Financial Services

We work with individuals across the nation to secure the best life insurance rates.

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4 Comments

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June 21, 2019 at 10:40 am

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September 24, 2019 at 11:03 am

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September 24, 2019 at 4:48 pm

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