How to Qualify for a Non-Smoker Life Insurance Premium

If you’re a smoker who’s come to realize just how much smoking costs you, chances are good that you’re considering quitting. First off, good for you for choosing health and better finances over a costly vice. Secondly, here are a few things to consider while you’re gunning for those non-smoker savings on your life insurance premiums.

The first thing to keep in mind is that most life insurance companies won’t classify you as a non-smoker until you’ve been smoke-free for at least a year. Depending on the company, that term may be longer, even as long as five years in some cases. Naturally, that gives you more incentive to quit sooner so as not to extend the already lengthy wait, but it also means you shouldn’t expect to see your premium reduced until some time after quitting.

If you can’t wait that long, some life insurance companies offer incentives for smokers who plan to stop smoking in the near future. You may be able to get a discount on a normal smoker rate even though you don’t yet qualify as a non-smoker. Keep in mind, though, that you have to follow through on your commitment to quit if you want to maintain your coverage. Many life insurance providers will follow up at regular intervals to ensure that your status as a non-smoker is still valid. If a test indicates anything to the contrary, you may be re-quoted or even have your policy cancelled.

It’s also worth noting that some insurance companies do not classify all tobacco users as smokers. Thus, you may only be considered a smoker if you smoke cigarettes as opposed to smoking a pipe, smoking cigars, or chewing tobacco. Other companies won’t classify you as a smoker unless your nicotine level exceeds a certain threshold. If you’re an infrequent smoker, then, you may be able to get a non-smoker rate. This is not to suggest that quitting isn’t a good idea, but you may be able to qualify for a reduced premium right away depending on your type and degree of nicotine usage.

As always, it’s important to shop around and ask questions of potential insurers before making a decision. Depending on your smoking situation, some life insurance providers may treat you more favorably than others. In the end, though, you will almost always get a better deal by quitting sooner and remaining smoke-free for the rest of your life.