It is generally true that individuals who smoke tobacco are either denied life insurance or end up paying more for their policies. Why? Because statistics are clear: Smokers do not live as long as non-smokers.
Life insurance premiums are determined by statistics found on mortality tables. These statistics track how many people die each year and at what ages. It is sad but true that the mortality rate is considerably higher when it comes to tobacco smokers. As a result, life insurance premiums are often 40% higher or more!
While no one likes to think about developing lung cancer — facts are facts. People who smoke cigarettes die at a younger age than those who don’t. Lung cancer was practically non-existent prior to World War II. Then smoking became the fad and everyone wanted to get in on the act. In just one or two decades after World War II lung cancer became a world wide epidemic and remains as such today.
The statistics surrounding lung cancer are depressing — 90% of those diagnosed with this condition end up dying in a relatively short period of time. Yes, lung cancer is almost always a death sentence.
Since any tobacco use on a regular basis will adversely affect an individual’s health, this is reflected in their life insurance premiums. Nicotine is a deadly substance — one drop on your tongue is able to kill a person. As a result, nicotine plays havoc on the human body. It weakens the heart muscle, increases the likelihood of strokes and heart attacks and is a frequent factor in individuals suffering with hypertension.
Here is the good news: Once you quit using tobacco for a period of twelve months, you may be able to qualify for a non-smoker rate with most of the major life insurance companies. When I was quitting smoking I talked to the agents at Goldsmith Insurance Agency and they explained that you can start to get non-smoker rates in as little as one year and definitely at the end of two years of being smoke free. So get started on kicking the habit now and move on to better life insurance rages.