Can I Get Life Insurance If I Smoke? Yep But It’s Gonna Cost Ya!

Can I get life insurance if I smoke? You sure can – but it’s going to cost you a pretty penny.

This is a common question. Probably because health anxiety is prevalent among people who are looking for insurance.

I think a lot of it has to do with the unknown nature of your physical wellbeing until you get the actual results back. Hey let’s face it, no one really enjoys having blood drawn at the doc.

Almost all of us have that moment or two when we think – what if something is wrong?

The good news is, thankfully most of us are healthier than we think.

…but what if you smoke? Does that knock you out of the running for life insurance coverage altogether?

Yep, I sure do!  Don’t get me wrong I don’t partake often, it’s a celebratory sort of thing. My brother and I like to hang out on his front porch on the first warm day to celebrate spring with a nice bottle of red wine…

…I also had one when my son was born and when I got married. You get the trend right? It’s a once in a blue moon sort of thing.

So did I tell my agent when I bought my policy? After all, I rarely smoke a cigar. Why risk it right? 

WRONG, of course, I told him! If I left this bit of information out it would be fraud and my beneficiaries won’t get paid out if I die during my term.

Transparency is very important.

But I bet you’re asking yourself if this disclosure impacted my application process? Not really.

That’s because life insurance companies don’t equate smoking cigarettes with smoking the occasional cigar. We are going to into this more below.

One of the more fulfilling parts of my job as a doctor is helping people to quit smoking.

Physicians have a front-row seat to the bodily harm tobacco smoking can cause. When I assess a patient who is a smoker, I do it through that lens.

I know that patient is at higher risk for developing lung disease, like COPD, and is more vulnerable to chest infections.

They are at higher risk for lung cancer — that’s the one that we are all familiar with when it comes to smoking — but also for cancers of the bladder, colon, mouth, sinuses, throat, kidneys, pancreas and others.

Smoking is just as bad for you as you think it is, CBC.com

Yep! This is because smoking is known to reduce the number of years you will be on this planet. To give you an idea of how harmful smoking is…

…the life expectancy of a smoker is a full decade less than a smoker. OUCH!

This is the reason smokers pay a heck of a lot more for their habit if they want life insurance coverage. So if you are following my blog and took note of the rates for a standard nonsmoking applicant you CAN’T rely on them if you are a smoker.

Not all smoking is created equal. By this, I mean that underwriters look at smoking cigarettes differently than smoking the occasional cigar.

Why? Because the effects on the body are different. So let’s see how various products come to play when it comes to filling out your life insurance application.

If you are asking yourself can I get life insurance if I smoke – the answer is SURE but it’s going cost you a LOT MORE! Possibly even $10’s of thousands more over your term.

Is it worth it?

If you need life insurance and you’re a smoker DON’T put off getting covered until you quit smoking. In my experience, this is never a good idea and may leave your family unprotected if a worst-case scenario unfolds. 

My first bit of advice? Call Policy Architects to find the best insurer for your particular situation. We target the most lenient company for smokers and will find you the best possible deal.

Then start a smoking cessation plan.  It’s important to record your goals with your GP. Once 12 months have elapsed you sign a document declaring you no longer smoke to be reassessed for a lower rate.

The good part about this approach is you’re covered throughout.