“Why pay more for your life insurance when you don’t have to?”
If you smoke the occasional cigar on the golf course or at a special event, unfortunately most life insurance companies will consider you a regular smoker which drives your rates thru the roof. In fact, regular smoker rates can be 3 times the rate of a non smoker. However, regardless of the frequency of your cigar usage, there are several life insurance companies willing to offer you a non smoker rate because you are smoking cigars and not cigarettes. The key is to identify these companies and apply with the ones that will treat you the most fairly.
Tobacco Use and Life Insurance Underwriting
Every life insurance company has its own set of underwriting guidelines that determine the specific rate class you will qualify for based upon your specific health and lifestyle. One of the most important of these guidelines is tobacco use. If you smoke cigars, some companies will consider you the same as a pack-a-day smoker regardless of the number of cigars you may smoke in a given month. The key is to avoid these companies.
The good news is that there are quite a few quality life insurance companies that may offer you a policy with non-smoker rates even though you smoke cigars. Identifying these companies can save you 60% or more on your life insurance rates. Before making an application for life insurance, you should know that the rules are different for each company and there are some requirements that cigar users have to meet to secure non-smoker rates for life insurance.
The bottom line is that being an occasional cigar smoker shouldn’t mean you have to overpay for life insurance.
Factors to Consider When Applying For Life Insurance as a Cigar Smoker
Frequency of Usage
How many cigars are you smoking per week, per month and per year? The fewer number of cigars you use in a given year, the more likely you can secure a non-smoker policy. For example, we have companies that will offer the top health class (preferred plus non-tobacco) if you are using 5-50 cigars per year as long a you test negative to nicotine on your insurance exam.
Presence of Nicotine on Your Insurance Exam
In almost every circumstance, when applying for life insurance, you must complete an insurance exam to qualify for a policy. One of the most important tests included in your exam is the one looking for nicotine. As a cigar smoker, the key is to be able to test NEGATIVE on your nicotine test. If you can pass the nicotine test, there are likely many opportunities for you to get a non-smoker policy even though you smoke cigars.
Be Honest on Your Application
Your cigar use must be revealed honestly to your agent so that they can do the best job for you. In other words, you need to reveal that you have used cigars in the recent past or are a regular cigar smoker. Make sure that you disclose the facts accurately on your life insurance application. Honesty is the best policy and Honesty will get you the best life insurance policy.
Your Current Health Status is Key
Good health is a big factor for anyone applying for life insurance. For example, if your height and weight, cholesterol, blood pressure and general overall health fall within the preferred limits, you are going to pay less for life insurance. Therefore, even though you may use an occasional cigar, you may easily qualify for preferred rates given that you take very good care of yourself health wise.
How Cigar Smokers Get the Best Rates for Life insurance
As mentioned above, the key to getting the best life insurance policy is to know which companies are going to look at you most favorably given your overall health and cigar smoking frequency. The only way for you to know this is by working with an independent insurance agent that represents many life insurance companies. If you work with an independent agent you give yourself the best opportunity to find the most competitively priced policy with a strong company. At MEG Financial, we are truly independent and have helped cigars smoker across the country find the best deal. For a more information call MEG today at (877) 583-3955 or click here to get a cigar smoker life insurance quote.