There are a lot of options out there for no exam life insurance for smokers, since smokers need life insurance to protect their loved ones and dependents just like non-smokers do. However, smokers often struggle to find a good, affordable life insurance. Insurance companies target smokers for higher premiums, and in some cases refuse to provide them with life insurance altogether. Smokers need to shop around and be a bit more resourceful when they're looking for life insurance. However, there's no reason why they can't find a policy that meets their needs and won't cost them too much in monthly premiums.
Smoking and Life Insurance Policies
Individuals who smoke probably are already aware of the fact that smoking comes with a plethora of health risks. Not only are risks of cancer higher for smokers, but also risks of other conditions like heart disease. Life insurance companies are well aware of this and understand that providing life insurance for smokers entails taking on some risk.
And consumers can't get around the issue just because they're not smoking cigarettes. While tobacco use through cigarette smoking is the most notorious killer in the public eye, life insurance companies will also make note of the risk involved in insuring a cigar smoker or an individual who smokes e-cigarettes.
Some Products Life Insurance Companies Consider as Tobacco
Life insurance companies will charge higher premiums for customers who engage in any type of smoking. Even a perfectly healthy individual with a smoking habit might struggle to find rates that are as low as those of an individual with a slight health problem. Smoking any substance is seen by life insurance companies as a highly risky habit that is likely to shorten a customer's life.
Smoking and Life Insurance Medical Exams
Prospective customers are probably not going to be able to hide their smoking habit from the insurance provider. Usually, a medical test is required of prospective customers before they're given insurance. This usually will require a blood test that can detect tobacco and nicotine.
Insurance companies are not going to be happy with a prospective customer if he or she lied to them. Honesty is the best policy. Even if insurance companies don't find out about a smoking habit during a medical exam, they may deny coverage down the road if they determine that a customer lied to them at the time that the policy was purchased.
There are two options for consumers who smoke who are looking for life insurance. They can either go through with the medical exam, or they can opt for no exam life insurance for smokers.
Which choice is best for an individual could depend in part on how much he or she smokes. Light smokers who are in good health may want to go ahead with the medical exam. It's important for anyone on the market for life insurance to understand that no medical exam life insurance policies almost always cost more than policies that involve an exam. If you can demonstrate decent health during an exam, a life insurance provider might be willing to offer you decently priced premiums under the assumption that your health is strong enough that you'll out live the term of a term life insurance policy.
Options for No Exam Life Insurance Policies
Heavy smokers often prefer to opt for no exam policies. A lot of consumers don't only try to forgo the exam because they smoke, but also because going through the exam itself tends to be unpleasant. Exams generally require blood and urine samples. Another task that's usually performed is taking the subject's height and weight. Life insurance medical exams can feel intrusive and embarrassing for many customers, especially if you are looking for life insurance for seniors who already deal with too many medical appointments to begin with.
The practices of various insurance providers offering no exam policies vary widely. Some providers of no exam policies only offer this product for younger customers purchasing term life insurance. Others focus this option on customers who are in poor health.
Some insurance providers might not offer death benefits that are as high for no exam policies as they do for policies that involve a medical exam. Any consumer who is looking into no exam policies really needs to evaluate their situation and shop around to determine the best course of action.
In any case, you should be aware that life insurance is available to you if you smoke and might even be more affordable than you think. Shop around and do some research and you'll find an appropriate policy.
Comparing Life Insurance With and Without a Medical Exam
|With Exam||No Exam|
|Price||Usually lower||Usually higher|
|In poor health?||Harder to qualify||Easier to qualify|
|Doctor visit||Required||Not required|