Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Life Insurance for Smokers and other Life Insurance topics.
You may have heard that life insurance for smokers is never affordable. That simply isn't true. Use these tips to find out how smokers can still get the best rates.
Tip 1. Choose an Experienced Agent or Leading Online Life Insurance Site
• Each insurer uses its own unique underwriting process. What does that mean when considering life insurance for smokers? Shoppers that smoke should make every effort to work with an agent that has experience with these kinds of policies.
• Because conditions and exclusions can vary widely among providers you will want to work with an agent that can steer you toward companies that offer good rates for smokers.
• For example, some companies assign different health classes to occasional cigar smokers than they do to cigarette smokers (likewise with users of smokeless tobacco). You need an agent that understands these variations and can help you find an insurer willing to work with you.
Tip 2. Be Honest
• For many policies, insurers conduct a medical underwriting review designed to reveal unhealthy habits or health concerns. For example, when you apply for life insurance you may need a medical exam. The most basic exam collects urine, blood and saliva samples. If you use nicotine, an evaluation of the samples will turn up the associated chemicals.
• The Medical Information Board (MIB) may have information related to your nicotine use in its database, which is available to insurers.
• Also, if you are not honest (and your dishonesty is discovered) you may invalidate the policy and leave your loved ones without financial support.
|Sheri Ann Richerson|