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How Do Life Insurance Companies Know If You Smoke?

When applying for life insurance, sometimes applicants have tried to state that they are a non-smoker on their application for coverage in hopes of obtaining non-smoker rates. This, however, does not often work in their favor as life insurers will typically be able to tell whether or not you truly are a smoker.

How does the insurance company know this? In most cases, traditionally underwritten life insurance policies will require a medical examination. As a part of this medical exam, an applicant provides a blood and urine sample, as well as a sample of saliva.

These samples are tested for nicotine – among other things – that could deem the applicant a high risk for the insurer to take on in terms of filing a claim. If so, the insurance company will be able to either deny the applicant for coverage, or to price the policy accordingly in order to compensate for the higher amount of risk.

In other cases, the insurance company might require some other tests, like a saliva test. That will also show any nicotine in your system. If there are any traces of nicotine in your saliva, then you’re going to get smoker’s rates.

What Happens If You Lie On Your Life Insurance Application?

As an applicant, if you lie on your application for coverage, stating that you are a non-smoker when you really are, there can be some negative consequences down the road. For example, if an insured dies within two years of the application being approved, the life insurance company can refuse to pay out the death claim to the beneficiary. This can oftentimes mean devastating financial circumstances going forward for the loved ones of the insured.

Other scenarios could also include the insured being required to pay back the difference in premium paid and / or have the life insurance policy rescinded and having the policy premiums returned.

Smoker versus Non-Smoker Life Insurance Premium Rates

life insurance and smokingStudies have shown throughout the years that regardless of whether you are male or female, young or old, being a smoker can have a big impact on the amount of premium that you will pay for your life insurance coverage. In fact, even the youngest of life insurance purchasers can expect to pay roughly double the amount of premium for coverage than that of a non-smoker – and, those who are older – in the age 55 to age 60 range – may even pay between four and five times more than a non-smoker for the same amount of coverage.

How to Lower the Price You Pay for Life Insurance

If you are a current smoker, there is a way to lower the price that you pay for life insurance coverage. However, it could require that you stop smoking – and that you do so for at least 5 years or more.

In most cases, those who have stopped smoking for only one year or less are still considered to be smokers. Once you have stopped smoking for two years, you will begin to see a slight break in your premium amount. However, those who have stopped smoking for between three and five years will really start to see the biggest break in the price of their life insurance premium amounts.

There are several other ways that you can lower your insurance rates. One of the best ways to do that is to improve your overall health. Another part of the medical exam is to determine what your overall health is. They are going to look at your weight, blood pressure, and much more. All of these factors are going to be used to calculate how much risk you are to accept for coverage. The worse that your health is, the more that you’re going to pay for your life insurance. If you want to save money, you’ll need to improve your health through diet and exercise. Both of these can help you lose weight and lower your chances of being diagnosed with any serious health problems.

Where to Find the Best Smoker’s Rates on Life Insurance Coverage

To really dial in the lowest rates if you’re a smoker you’ll need to shop your application around. By that, we mean to locate an agency who has access to multiple life insurance companies, and allowing you the best opportunity to compare and contrast the differences.

The great thing is you don’t have to look too far! As an independent insurance company we have the tools to provide you with multiple quotes, fast. And we can accomplish all of this without meeting in person, and that equals a quicker issued policy.

Unlike traditional insurance agencies, we are a group of independent insurance agents. Unlike traditional agents, we work with dozens and dozens of the best companies on the market. That means that we can bring a personalized set of quotes directly to you. Working with one of our independent insurance agents can save you both time and money on your life insurance.

Additionally, there are several ways that you can secure better rates for your life insurance coverage. Making a few simple lifestyle changes can save you thousands of dollars every year on your life insurance protection.

If you want to save money, it’s important that you’re in the best shape possible. As a smoker, you already had one red flag on your application, which means that it’s important that you improve every other area of your health.

The two best ways that you can do this are by getting regular exercise and by making healthy dietary choices. Both of these can help you lose weight, lower your blood pressure, and much more. All of these are going to translate into much lower insurance rates. Hitting the gym is a great way to save money on your life insurance coverage. In fact, if you’re overweight and a smoker, you’re going to pay drastically higher rates. Losing weight can help you save as much as 50% on your life insurance coverage.

If you have any questions at all regarding life insurance policies, or about determining smokers versus non-smoker’s rates, please feel free to contact us directly, toll-free, at 888-229-7522. We can help to get you the protection that you need to cover those that you love. So contact us today.

Our independent insurance agents have years of experience working with smokers looking for life insurance coverage. We know that it’s not easy to find life insurance as a smoker. That’s why we are here to help. It’s our mission to ensure that you’re getting the best rates possible.

 

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