Good News for Smokers

Despite higher rates, smokers can still secure quality life insurance coverage. The key is finding companies with competitive smoker programs and implementing strategies to minimize premium costs while maximizing coverage value.

“I helped a 45-year-old client who smoked a pack per day save $2,400 annually by switching from Northwestern Mutual to Pacific Life and optimizing his health profile. The same coverage amount, but Pacific Life’s preferred smoker rates were 45% lower for his specific situation.”

– InsuranceBrokers USA – Management Team

1Best Overall for Smokers: Pacific Life

Why Pacific Life Leads for Smokers

Pacific Life offers some of the industry’s most competitive smoker rates through their advanced risk assessment programs. They recognize that not all smokers present the same risk profile and price accordingly, with preferred smoker rates up to 50% lower than standard smoker classifications at other companies.

Best For:

• Light to moderate smokers with good overall health
• Those seeking preferred smoker rate classifications
• Applicants with controlled health conditions
• Smokers planning to quit within policy term

2Most Flexible Underwriting: Prudential

Prudential’s Smoker-Friendly Approach

Prudential’s underwriting team takes a nuanced approach to smoker applications, considering factors like smoking frequency, overall health status, and family history. Their “table rating” system allows for more precise risk pricing rather than broad smoker categories.

Best For:

• Heavy smokers seeking coverage
• Smokers with complex health histories
• Those needing large coverage amounts ($1M+)
• Business owners requiring key person coverage

3Fastest Approval for Smokers: Lincoln Financial

Lincoln’s Speed Advantage

Lincoln Financial’s accelerated underwriting program includes smokers, allowing for faster approvals without sacrificing competitive rates. Their technology-driven approach can provide decisions within 48-72 hours for qualified smoker applicants.

*Rates based on Pacific Life preferred and standard smoker classifications

Money-Saving Insights

• Preferred Smoker rates can be 40-60% lower than standard smoker rates
• Quitting smoking for 12 months typically qualifies you for non-smoker rates
• Age makes a bigger difference for smokers – apply as early as possible
• Women generally pay 15-20% less than men in the same smoker category
• Term life offers the best value for most smokers vs permanent coverage

Honesty is Critical

Never lie about smoking status on your application. Insurance companies test for nicotine and cotinine during medical exams, and dishonesty voids your policy. Instead, focus on presenting your smoking habits in the most favorable light while remaining truthful.

Pro Tip: Medical Exam Preparation

Schedule your exam for mid-morning when you feel most energetic. Avoid caffeine, get good sleep the night before, and maintain your normal routine. Don’t try to dramatically change habits right before the exam – consistency in your health profile is more important than short-term improvements.

How long after quitting smoking can I get non-smoker rates?

Direct answer: Most insurance companies require 12 months of being tobacco-free to qualify for non-smoker rates, though some may require up to 24 months.

The key is documentation – keep records of your quit date and consider working with your doctor to document your tobacco-free status. Some companies offer rate reductions after 6 months, even if full non-smoker rates require a full year.

Do vaping and e-cigarettes count as smoking for life insurance?

Direct answer: Yes, virtually all life insurance companies classify vaping, e-cigarettes, and any nicotine use as tobacco use, subject to smoker rates.

This includes nicotine gum, patches, and other nicotine replacement therapies if used regularly. Some companies are beginning to differentiate between traditional cigarettes and vaping, but most still group all nicotine products together for rating purposes.

What’s the difference between preferred smoker and standard smoker rates?

Direct answer: Preferred smoker rates are typically 40-60% lower than standard smoker rates and are available to smokers with good overall health profiles.

Preferred smoker classification considers factors like smoking frequency, overall health, family history, and lifestyle. Light smokers (less than 10 cigarettes per day) with good health metrics often qualify for preferred rates, while heavy smokers or those with health issues receive standard smoker rates.

Can I get life insurance if I smoke marijuana?

Direct answer: Yes, but policies and rates vary significantly between companies. Some treat marijuana like tobacco, others have separate classifications.

Occasional marijuana use (1-2 times per week) may not affect rates with some insurers, while daily use typically results in smoker rates. Medical marijuana use is often viewed more favorably than recreational use. Be honest about usage patterns and frequency.

Should I buy coverage now as a smoker or wait until I quit?

Direct answer: Buy coverage now. You can always request rate reductions after quitting, but waiting risks health changes or becoming uninsurable.

Most policies include provisions allowing rate reductions after demonstrating tobacco-free status. Waiting to apply means risking health changes, aging into higher rate categories, or facing unexpected life events without coverage. Secure coverage now and optimize rates later.

How much life insurance should smokers carry?

Direct answer: Smokers should consider 10-12 times annual income rather than the typical 8-10 times, due to higher mortality risks and shorter potential earning years.

Calculate: Current debts + mortgage balance + 5-7 years of family expenses + children’s education costs + final expenses. Smokers may want higher coverage to account for increased health risks and potential for shortened life expectancy affecting long-term financial planning.