| If you're a smoker, you may think that you | | | | one, especially if you're in good health (as |
| can't get quality term life insurance | | | | defined by the insurance company.) If you |
| coverage. In the highly competitive insurance | | | | want quality coverage, be sure to tell the |
| marketplace, companies are beginning to | | | | truth on your application. Otherwise, there's |
| realize that smokers are a large market | | | | a good chance that no benefits will paid if |
| segment who are willing to pay elevated (but | | | | you die. |
| not excessively so) premiums for term life | | | | |
| insurance coverage. Yes, you'll have to admit | | | | If you stop smoking, eventually you may be |
| that you smoke and yes, you'll have to take a | | | | able to qualify for lower non-smoker rates. |
| medical exam, but since 1 in 4 Americans | | | | |
| smoke, you won't be alone. | | | | Your insurance company may have a sliding |
| | | | scale that reduces premiums according to the |
| The fact that you smoke can be determined by | | | | amount of time you've been smoke-free. If it |
| a urine test that measures nicotine levels. | | | | doesn't, it would make sense to shop around |
| Depending on the level, you might be | | | | for a company that does. At the very least, |
| classified as a light, moderate or heavy | | | | your company should change your status from |
| smoker and be charged accordingly. Some | | | | standard to preferred when you quit smoking. |
| companies, however, do not make this | | | | |
| distinction, and smokers are counseled to | | | | Stopping smoking is the right thing to do for |
| seek out companies that do. Smoking cigars | | | | both you and your family. You should be |
| and pipes and chewing tobacco don't rule you | | | | rewarded with better health, longer life and |
| out, either. In fact, you may be classified | | | | lower term life insurance premiums if you do. |
| differently, in a more positive way as a | | | | Be honest, shop around and you'll be |
| "preferred" smoker rather than a "standard" | | | | surprised how low those premiums can be. |