You’ve heard it over and over again—smoking is a nasty habit. Countless studies have proven the adverse side effects and illnesses that cigarettes can cause, including cancer, lung disease, stroke and more. As if that’s not reason enough to quit for good, the affect smoking has on your life insurance premium just might be the convincing factor.
A smoker can expect to pay up to three times as much for life insurance than a non-smoker. Why? Smoking increases your chances of premature death, making you a higher risk for insurance companies to cover.
And don’t try to be sneaky about your habit either. When you apply for life insurance, you often must get a physical exam, during which your doctor will note your tobacco use. Even if you manage to hide your habit from the doctor, it can surface later. Say, for instance, you’re hospitalized for a smoking-related illness that ends fatally. Your insurer can deny a claim due to insurance fraud if you failed to disclose your tobacco use.
Insurance companies define smokers as individuals who have used any amount of tobacco products within the past year. If you quit smoking or switch to E-cigarettes and a year passes, you may be eligible for reduced premiums. Different insurance companies have different policies in regards to covering smokers; some won’t accept smokers at all while others will offer them less coverage or charge them more for the same coverage.
Whatever your reason, kicking the habit is great for both your health and your wallet. Apart from the cost of cigarettes and life insurance, smokers can also expect to pay more for health insurance and home insurance. So why not find a program to help you quit today?
Our agents will help you find coverage, no matter your situation. Call Insurance Beacon at (623) 584-0071 for more information on Surprise AZ life insurance.