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Nicotine and Tobacco Life Insurance Quotes
Searching for an affordable Term Life Insurance policy can be frustrating to say the least, there are a number of carriers to consider along with all the different policy options and benefits that you have to review as well. Especially if you use some sort of Tobacco product or have smoked in the last few years you may have to pay more due to some of the carriers underwriting guidelines.
This article should help you in your search for quotes and give you an idea of how the companies may view you for underwriting. I would suggest that you shop your coverage and talk to a couple of agents or brokers to get a good idea of what you may pay for coverage.
If you are searching for tobacco user life insurance plan or policy don’t be disheartened because low-cost term life policies are still within your grasp if you know who to talk with. Did you know because you smoke cigarettes a pipe or cigars and sometimes even if you chew smokeless tobacco, that the life carriers could charge you up to 50 percent more for your policy.
Typically if you smoke or use tobacco the life carriers will require you to not have used any
form of tobacco for a year or more to get the best rates. If you have smoked
within a year that would typically be a Standard or Standard Plus Non Tobacco
rating. Two to three years with no tobacco and it is quite possible to obtain
non Smoker ratings on your policy, which will save you a great deal of
money. After five or more years with no tobacco and all other health qualifies
you may get the very best rate class available from the life companies.
See below here for possible rate’s and classes for smokers life insurance:
No Tobacco five plus years – potential Preferred Best:
No Tobacco three years or more – Potential Preferred Quote:
No Tobacco two or more years – possible Preferred or Standard Plus Quote:
No cigarettes or tobacco 1 year or more: potential Standard Rate Class:
What this will end up meaning to you is just how much your premiums will be for your new life insurance policy. Now if you still smoke well then you will simply have to
qualify as a Tobacco User. But if you do not plan on quiting or have quit you
will have to just end up paying the Tobacco User Rates on your new plan. It’s
true that yes not stopping using tobacco simply will reflect in you paying
higher life insurance premiums. All you need to do is ask if the higher premium
is worth you not quitting, is the pain too much to pay in essence?
One really great thing to remember is that term life rates are at industry lows
currently, so it is truly a great time to be looking into buying a new plan. So
we all know how much everyone hates to pay insurance premiums but this is the
one insurance the once you have it in force gives you a sense of calmness?
Next step is to go get and find the best life insurance brokerage or
agent. Next is to research for a good brokerage or life agent that can help you
write the life insurance application for your plan. Make sure your broker is a
appointed through a brokerage and can really help you shop the market place for
the most affordable life plan. Ask them if they work with a BGA (Brokerage
General Agency) that has a multi-carrier platform. This is really insider
information so if your agent acts weird it’s because they now know that you have
done your homework or research. Another avenue is to speak with multiple brokers
or agents and get multiple quotes from each one of them.
Deciding on the right company to apply with might come down to which carrier offers the least expensive premiums for your desired face amount. Buy as much as you need and can
afford since term life is the cheapest coverage to start with initially.