Smoking and Whole Life

Whole life insurance is designed for healthy people to lock in a low rate for a lifetime. They will receive coverage as policy income in  the event they can no longer care for their families. However, if someone smokes, this could greatly affect his or her life insurance rates. Insurance companies only want to insure people who are going to live for a long time. Smoking cigarettes on a daily basis can affect every system in your body in a negative way.

Smoker Premiums

Smokers will usually pay higher premiums than people who do not smoke. The reason is that smokers have a higher death rate. However, insurance companies examine each applicant and figure out the best plan for each person. If you are a smoker, your whole life insurance policy depends on how much you smoke and how recently you smoked.

Life Insurance Smoker Categories

Quitting smoking is hard, but it has such a huge impact on your insurance policy. Companies actually classify smokers based on their habits. If you use to smoke at least 5 years ago, you will be placed in a higher category than someone who currently smokes or has smoked in the last year. These people will pay higher premiums because they are not as healthy. Of course, the companies also check an applicant's medical history to see the cholesterol, weight and blood pressure ratings.

Life Insurance Physical Exam

If you are tempted to lie to the insurance company in order to get the best rate, be warned: companies usually require physical exams and urine samples from applicants. A nurse or doctor can tell if someone has used tobacco recently and will write that on the insurance report. Just be honest about your tobacco use and start cutting back now. Quit smoking entirely if you plan to get a whole life insurance policy soon. If you already have a policy, you can still quit and then petition the company for a reevaluation once you have been clean for several months. They will lower your rates as your health improves.

Disadvantages of Smoking

Smoking is unhealthy if you do it once a month or every day. It can ruin your health and cause you to pay more in health insurance and life insurance. If you continue to smoke while maintaining a whole life insurance policy, you will pay much more in premiums over the years than a non-smoker. Do not let your habit prevent you from obtaining a good insurance policy for your family's sake.

If you quit smoking today, you can improve your health every day. The body has a miraculous ability to heal itself. You can cut your heart attack and lung cancer risk starting today by putting down the cigarettes. Even if you have been smoking for a lifetime, you can still drastically reduce your risk of getting cancer or heart disease by quitting cold turkey. It will take your body several years to get back to the same health condition it was in when you were a nonsmoker.

Whether you currently have a policy or are looking for a new whole life insurance policy, start here by asking for free quotes from agents. They can advise you on the best rates they have for smokers and how to lower your premium amount by quitting. Many insurance companies let you customize policies so that you could pay a single premium or join a participating plan. There are many choices when it comes to life insurance, so do not limit yourself by continuing your smoking habit.