Staying healthy is not always easy, which is why so many people turn to life insurance. With life insurance for smokers, your premiums can stay low on the condition that you quit smoking by the end of a specified term or leave. Learn how whole life insurance for smokers can help save your finances without it having to be such a hard commitment!
What Life Insurance Is?
The benefits of life insurance for smokers are many. Aside from the obvious benefit of financial security in the event of an unexpected death, individual smokers can also take advantage of features that may be unique to life insurance policies specifically designed for smokers.
For example, most life insurance policies include a clause that allows premiums to be refunded if the policyholder takes steps to discontinue smoking within a certain period of time. This feature puts money back in the smoker’s pockets and can help reduce addiction to tobacco products. Additionally, some life insurance companies offer discounts on premiums for those who participate in smoking cessation programs.
While no life insurance policy is perfect, obtaining one that includes specific features designed specifically for smokers can improve the overall quality and value of the policy.
How Does Smoking Affect Your Health?
Smoking is a major health hazard and it can have dire consequences such as cancer, heart disease and other serious health conditions. In fact, smoking is one of the top causes of preventable death in the United States.
How does smoking affect your health? Well, smoking is harmful to both your short-term and long-term health. Short-term effects of smoking include increased risk of lung cancer, heart disease, COPD and other respiratory illnesses. Long-term effects of smoking include premature death, stroke, Alzheimer’s disease, chronic lung infections and more.
There are many risks associated with smoking, but life insurance is not one of them. A study conducted by the American Cancer Society found that smokers are only three times more likely to die from a fatal heart attack than nonsmokers.
In addition, life insurance policies do not include death due to any tobacco use disorder such as quitting smoking or using less cigarettes. Policies also do not cover illnesses that are caused by nicotine addiction or tobacco use (such as emphysema).Whole life insurance is not typically marketed to smokers, it is important to consider how smokers may affect their life insurance policy if they were to.
The Benefits Of Life Insurance For Smokers
If you smoke, you know the risks. As a smoker, you are more likely to suffer from cancer and other diseases. But even if you don’t smoke, life insurance can still be a good idea for you. Here are the benefits of life insurance for smokers:
1) Life insurance can help cover funeral expenses and cremation costs.
2) If you die without a Will, your estate may not be able to claim any life insurance benefits. However, with life insurance, your family can receive money to help them deal with these difficult times.
3) If your spouse becomes disabled due to a smoking-related illness, he or she may be able to continue living in the home and collect monthly disability payments. This can provide significant financial security for your family.
4) If one of your dependents becomes disabled due to a smoking-related illness, they may be eligible for government-funded medical expenses and social security benefits.
5) A life insurance policy can also make financial arrangements if something happens to your spouse while he or she is still alive. For example, if one spouse dies and the other continues to work, the life insurance policy could pay out money so that the surviving spouse can live comfortably
Conclusion
Smokers should be aware of the possible benefits of life insurance for smokers. This is because many life insurers only offer life insurance policies to those who do not smoke. In addition, there are a number of benefits to taking out a smoker’s policy, including increased coverage for immediate and unexpected deaths, as well as lower premiums. Although it is important to speak with an agent about specific policy details, here are some general points to keep in mind:
– Higher death benefits: Smokers get higher death benefits than nonsmokers, typically due to their elevated risk of premature death.
– Reduced premiums: Nationwide, smokers pay on average 38% less for life insurance than nonsmokers.
– Increased coverage: A smoker’s policy will cover an expansion of events that would result in death, such as accidental poisoning or cancer.
– Improved availability: Many life insurers only offer smoker’s policies to individuals who do not smoke.
