Life insurance is one of the greatest parts of your overall financial plan. This is because the proceeds from an insurance policy can be used for multiple different purposes, including paying off debt, the payment of ongoing living expenses of your survivors, and ensuring that an insured’s funeral and other final expenses can be taken care of.
There are many factors that a life insurance underwriter will consider when making a determination about your application for coverage. Many of these will have to do with your health and life expectancy, such as height and weight, gender, your age, and health condition and history. They also will want to know if you smoke cigarettes and/or cigars.
How Smoking Cigars Can Affect Your Life Insurance Application
While many people may believe that cigar smoking won’t have the same effect as smoking cigarettes on your life insurance application, this is not necessarily the case. This is because, just like smoking a cigarette, cigars also includes ingesting tobacco.
In fact, taking in tobacco in any format – including cigarettes, chewing tobacco, and cigars – can cause you certain health risks, and this, in turn, can be riskier for a life insurance company regarding accepting your application for coverage.
There are many health-related risks that may be associated with smoking cigars. These can include the following:
- Lung cancer
- Cancer of the mouth, throat, and tongue
- Cancer of the esophagus
- Pancreatic cancer
- Heart disease
What many people may or may not realize is that, according to the National Cancer Institute, the concentration of tobacco that is in just one, single large premium cigar could be equal to smoking 20 cigarettes. One reason for this is because large cigars can take much longer to smoke than just one cigarette – so, the more time that a person spends smoking even just one cigar, the more risk that he or she can be posing to their health.
What Life Insurance Companies Want to Know If You Are a Cigar Smoker
If you are a cigar smoker, there is a good chance that a life insurance company will be asking for some additional information about you and your smoking habits. For instance, you may have to provide the following details:
- How long have you been smoking cigars?
- How many cigars, on average, do you smoke each month?
- Do you use any other type of tobacco product?
In addition to questions on the insurance application, you could be asked to take a medical examination as one part of the underwriting process. This will include you meeting with someone in person with a paramedical professional – or “paramed” – who will take a heart rate and a blood pressure reading from you. Don’t worry because there are still companies who offer life insurance with high blood pressure. They will also take a blood and urine sample. With this in mind, it will be essential to provide the proper information about your cigar smoking – as it can typically be detected in the samples that you provide. Though there are other options available if you feel your health will not allow you to pass a physical examination, such as a no medical exam life insurance policy or a guaranteed issue policy. Maybe you have a health condition such as bipolar disorder and wondering if you would qualify for life insurance. We want to help you search for the right plan.
Even if you are just an occasional cigar smoker, it is essential that you disclose this information to the insurance company. If you don’t provide these details, and the insurance company finds out later that you are a smoker, it is possible that your coverage could be canceled – which in turn, could leave your loved ones without the financial protection that they require.
Likewise, if it is determined that your death was ultimately the result of a smoking-related condition, the life insurance company could refuse to pay out your policy’s claim. Here, too, those who are counting on you can be left without the financial cushion that they were anticipating for paying their living expenses and/or other financial needs.
How Much Does Life Insurance for Cigar Smokers Cost?
The price of any life insurance policy will depend on several factors. These can include the amount of coverage that you are applying for, as well as the type of policy (i.e., term versus permanent). The premium will also depend a great deal on your gender, as well as the age that you are when you apply for coverage.
When a person is a smoker, this too has the ability to greatly impact the cost that you pay for your premium. This is the case, regardless of the type of tobacco that you smoke. It is estimated that, on average, a life insurance policy on a smoker can cause the premium to be two, or even three, times that of a regular non-smoker policy, with all other factors being equal.
The insurance company where the policy is purchased also can affect the amount you pay. This is because, just as with most any other service or product that you purchase, the price for life insurance can differ – sometimes significantly – based on where you purchase it.
Therefore, ensuring that you do a thorough comparison of several different life insurance policies – from different insurance carriers – can make a big difference. Working with an independent life insurance brokerage or agency can help you to make this comparison very quick and easy. The reason for this is that you’ll typically have the ability to directly view many different policies, benefit, and premium costs all in just one convenient place.
Where You Can Find the Best Premiums on Life Insurance for a Cigar Smoker
If you are a cigar smoker and you are shopping for life insurance, we want to help. That is because we do business with many of the top life insurance companies in the marketplace today, and we will be able to give you all the necessary details that you need. Whenever you are ready to begin this process, you can start by simply taking some time to fill out our form on this page.
If you think that you still need any additional information about how life insurance for cigar smokers may be obtained, then please know that you can reach out to us directly. Our professionals can take you through the quote process, and also work with you in determining how much protection you may need. If you call 888-229-7522, you will be able to reach us directly, toll-free.
While getting life insurance for cigar smokers may seem like a difficult task, the reality is that you still may have many options to choose from. Working with an expert in the life insurance field can get you to the policy that you need and want at an affordable premium cost. So, contact us today – we’re ready to assist you.