When shopping for life insurance it's important to understand that smokers pay higher rates for life insurance coverage than non-smokers.
This is based on the fact that on average, smokers live shorter lives than non-smokers, so they would be paying into a life insurance policy for a shorter number of years, therefore the rate they pay for life insurance coverage needs to be higher.
However, if you quit smoking life insurance companies may offer you a lower rate, after a certain period of time being smoke-free.
For instance, some life insurance companies may lower your rate if you have been smoke-free for 1 or 2 years. If you are smoke-free for 5 years you would pay the same rate (usually) as a non-smoker for your life insurance.
Here's how you can compare non smoker life insurance rates and plans among several leading life insurance companies.
This is based on the fact that on average, smokers live shorter lives than non-smokers, so they would be paying into a life insurance policy for a shorter number of years, therefore the rate they pay for life insurance coverage needs to be higher.
However, if you quit smoking life insurance companies may offer you a lower rate, after a certain period of time being smoke-free.
For instance, some life insurance companies may lower your rate if you have been smoke-free for 1 or 2 years. If you are smoke-free for 5 years you would pay the same rate (usually) as a non-smoker for your life insurance.
Here's how you can compare non smoker life insurance rates and plans among several leading life insurance companies.
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