Do Smokers have Higher Life Insurance Rates?
Answer:
Insurance companies charge smokers higher life insurance rates


because smoking causes serious health problems often leading to death. They recognize the risk and put a price tag on it in the form of higher premiums.

However, there are varying degrees of risk and many life insurance companies distinguish between the different types of smokers including casual smokers and heavy smokers. In addition, if a smoker is otherwise healthy with good weight, cholesterol, and blood pressure readings, the life insurance company may not penalize them as much as a smoker in poorer overall health.

When you apply for life insurance, you will have to undergo a physical where you will be tested for nicotine in order to determine if you are a smoker or not. If you are found to be a smoker, the insurance company will charge you more – perhaps as high as twice what a non-smoker would pay. Shop around to find an insurance company that takes other factors into consideration and can offer you a more competitive rate. For example, if you only smoke a pipe on special occasions, you may be able to find a life insurance company that takes that into consideration when determining your rates.

Insurance companies often allow former smokers to pay the non-smoker rate if they remain tobacco-free for at least a year.
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