What You Need to Know About Tobacco Use and Life Insurance

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If you’re a smoker, you already know all the health risks that have been linked to this expensive habit. You’ve probably tried all the recommended methods for quitting; maybe even a few times. We aren’t here to lecture you – you’re probably surrounded by loved ones that can handle that. Our job is to educate you on how smoking could effect your ability to obtain life insurance.

It’s a common misconception that tobacco smokers are unable to get life insurance. Or, at the very least, that smoking pushes the premium into the “unaffordable” category. The truth is, purchasing a term life insurance policy as a smoker is a fairly painless and affordable process. There are a few things you need to know to insure the best possible outcome.

Cigarettes Aren’t the Only Products Underwriters Are Looking For

Many consumers assume that cigarette smoking is the only thing that is considered in the underwriting process. The truth is, there are a number of other tobacco products that are frowned upon.

  • Chewing tobacco
  • E-cigs/Vape pens
  • Cigars
  • Nicotine replacement, such as gum or patches

If you use any of the above, prepare to pay a higher premium than you would as a non-smoker. When speaking with a life insurance agent, be honest with them about your tobacco intake. Each insurance carrier has a different set of rules regarding what is acceptable and how much additional premium they charge for your habit. In fact, many will even charge a non-smoker’s rate for individuals who partake in a “celebratory cigar” every now and then.

”I Quit Smoking Last Month. Doesn’t That Make Me a Non-Smoker?”

Unfortunately, no. Most carriers require you to be tobacco-free for at least twelve months before offering a non-smokers rate. Two to five years nicotine-free qualifies you for Preferred or Preferred Best rates, assuming all your other medical exam results are in order.

The great news is, just because you only qualify for the Smoker’s class right now, doesn’t mean you’re stuck there forever. Most companies will consider you for a better rate once you’ve hit that one year mark. So, if you have a current policy, talk to your agent about your specific insurer’s requirements for lowering your premium payments. It could be as simple as a blood or urine test.

Marijuana Usage Can Effect Your Premiums Too

When we think of smoking, we naturally think of tobacco. While there have been many changes in public opinion and legalities when it comes to cannibas, it is still illegal in many states. This, coupled with the fact that the federal government still classifies it as a Schedule I controlled substance, leaves a lot of gray area for the life insurance underwriting process.

If this is a concern for you, don’t get discouraged. Each insurer has their own set of guidelines regarding how they underwrite marijuana usage. Frequency of use, reason for use, and method of intaking are all factors that could affect your eligibility and rates. Best plan of action – be honest with your agent. They can assist you in identifying the right policy for you.

How Long Does Nicotine Stay in One’s System?

There are a number of ways to test for nicotine. Cotinine, the predominant metabolite of nicotine, can be detected in the system for longer than nicotine. Therefore, most medical exams bypass the nicotine test altogether, testing for cotinine instead. How long this metabolite is detectable varies, depending upon a number of factors. A menthol smoker’s body expels cotinine at a slower rate than non-menthol smokers.

Additionally, urine tests provide a more accurate reading, while blood and saliva tests are less sensitive. If you enjoy the occasional celebratory cigar, it’s a good idea to wait at least a week before going in for your life insurance medical exam.

Looking for coverage and have no idea where to start? We understand that each client’s situation is unique. To accommodate our customer’s diverse needs, we have partnered with the very best in the industry. One of our agents would love to help you find the best coverage, at the most affordable rate, to fit your needs.

Considering Life Insurance? Don’t Make These Common Mistakes

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When considering which auto or home insurance option best fits their needs, consumers spend hours mulling over their choices. Most consumers meet with their insurance agent prior to making a final decision. Why is it then, that they spend considerably less time on their life insurance decisions; one that promises to affect not just their financial future, but that of their family’s? Read more →

Having A Conversation With Your Parents About Burial Life Insurance

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As we age, we begin to encounter more realities which seemed to reside in a distant future. Retirement and financial stability, medical costs and overall health concerns, and questions of mortality begin to become more prevalent. And not just for ourselves, but for the rest of our families, especially our parents and older relatives. These issues and subsequent conversations aren’t usually something most of us want to broach, yet they are realities for all of us.

Still, there are ways to go about having frank, yet sensitive discussions about these adult topics. In this post, we’re going to discuss having conversations with parents about burial life insurance. There are some effective steps to take in order to be prepared and sensitive to all parties involved.

Research and Preparation

One of the most effective plans is to prepare yourself, as well as your parents, by conducting thorough research into what your options are, the costs, and other related specifics you’ll need to consider. The most widely used policies are burial life insurance and preneed funeral insurance.

Although many plans will offer similar benefits, some will offer specific plans for the needs of certain religious practices. Additionally, there will be specifics regarding the preparation of the body, either for a coffin burial or for other methods, such as cremation.

Have you ever discussed any of your relatives’ wishes? For many, this can be such a delicate subject that they have never wanted to discuss. In order to abide by a person’s wishes, the conversations must happen, which brings us to our next point.

Location and Attendance

Many families are now conducting family discussions about their burial wishes long before an illness or terminal situation arises. This allows your parents and older adults an opportunity to express exactly what they want, with clear judgement, free of excessive duress.

When planning such a conversation, consider who should be in the room. All immediate family should be there, excluding children, as a small child can be more of a distraction in such a somber situation. A close friend or confidant or even clergy member might also want to be in attendance, to offer additional moral support. Keep the meeting on task and focused. Save your reminiscing and sharing stories for after, when the serious discussions have concluded. This won’t probably be the happiest occasion, but remind yourself and the others that you are conducting this meeting in order to have less turmoil when a loved ones passing actually occurs. Then, when the meeting is concluded, have a celebration of life to lighten the mood and share laughs and memories.

Conversations of mortality with family, especially our parents, is difficult, but you can find creative, compassionate, and effective methods for having these discussions, which leave everyone satisfied and prepared.