If you are smoker or regular tobacco user, you know how difficult it can be trying to purchase term life insurance. The high term life insurance premiums quoted to you simply because you smoke have probably been disappointing. Since the insurance industry is always trying to accommodate “specialty” niches, some term life insurance companies have recently opted to offer low cost term life insurance for smokers and tobacco users.
As a smoker or nicotine user, you are now eligible for 10, 15, 20 or 30 year term periods at less expensive rates. As long as you are otherwise in excellent health and are at a reasonable weight, you may purchase $250,000.00 worth of coverage for about $40 per month over a 10 year period.
Finding the Right Term Life Insurance Company
Aside from the fact that tobacco use in any form already sets you apart from non-users, it is important to understand that many insurance companies do not even distinguish between the form and frequency of your tobacco use. For example, if you like to use chewing tobacco occasionally you are considered to be in the same category as someone who smokes multiple packs of cigarettes per day.
While this type of treatment may seem unfair, there are some term life insurance that do distinguish between the types of tobacco use as well as the frequency of usage. The best thing to do is to research out the select insurance companies that individualize their rates. Term life insurance premiums are based on whether you use cigarettes, cigars, chewing tobacco, pipes, smokeless tobacco, nicotine gum, marijuana or a nicotine patch (if you smoke marijuana, you must also disclose that you use drugs on your application form). The select term life insurance companies also distinguish between how often you use the previously mentioned products. You will be quoted a lower rate for smoking an occasional cigar versus someone who chain smokes cigarettes. To learn more about term life insurance visit http://www.equote.com/life-insurance/term-life-insurance.html.
By doing some simple research, smokers and tobacco users can now afford to protect their families at lower term life insurance rates. Your lifestyle does not have to be a strike against you any longer and you will be able to give your family the peace of mind knowing that they are financially protected should you pass away unexpectedly.
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