Life Insurance

[Kferguson]

Anyone have any experience with getting life insurance as a cigar smoker? I think if I set the date back far enough it shouldn't be a problem with a blood and urine test.That tobacco premium is more than double though.... 

[Fuzz AI]

Why lie? Yes the cost is higher, but if you get caught out, they can void your insurance and refuse payout.

[Kferguson]

@Fuzz That is a really good point. I really don't like being dishonest. I guess I just never really saw my 2 to 4 cigars a month as something detrimental. 

[Fuzz AI]

Some insurers do offer the non-smoker rate, or just a bit higher than non-smoker rate, to cigar smokers. I just Google'd it, and came up with this website: https://www.bestlifequote.com/blog/term-life-insurance-as-a-cigar-smoker/ . Maybe a bit out of date, but it is a good start.

[Kferguson]

@Fuzz Thanks man, I appreciate the help. The irony being the money that I save will probably get used for cigars haha.

[Philc2001]

Back when I used to carry life insurance I always replied 'no' to the smoking question, but I made sure to mention to my agent that I was an occasional cigar smoker. She asked me how many cigars I smoked, and I said about 1-2 per week, which was reasonably accurate at the time. She told me that was no problem, as long as I don't smoke cigarettes and I don't inhale cigar smoke then there shouldn't be any problem. I think at 3 or more per week some insurance companies will classify you as a smoker.

Have you familiarized yourself with the life insurance bell curve?  I'd be happy to explain that over PM. Despite what the slick-talking agents say, insurance is NOT an investment and certainly not a savings vehicle, it is purely a supplement to your wealth in case you die unexpectedly, but you will likely never file a death claim (less than 2% ever do).  I'll leave it at that, but let me know if you have questions.

[Phillys]

25 minutes ago, Philc2001 said:

but you will likely never file a death claim (less than 2% ever do).  I'll leave it at that, but let me know if you have questions.

How come, isn't that the point?

[Philc2001]

How come, isn't that the point?

Over 98% let their policy lapse as they age and their premiums skyrocket. Past age 50 it gets very expensive.


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[Islandboy]

Or you out-live the term, something I’m hoping to do.

[Philc2001]

2 hours ago, Islandboy said:

Or you out-live the term, something I’m hoping to do.

Exactly, that's what I meant by "lapse". My term policy was costing me $40/month, but once it expired the company offered me a new policy at $275/month. I said "no thanks"! Insurance companies have good actuarials and statisticians, they know better when you're going to die than you do. 

[dominattorney]

18 hours ago, Kferguson said:

Anyone have any experience with getting life insurance as a cigar smoker? I think if I set the date back far enough it shouldn't be a problem with a blood and urine test.That tobacco premium is more than double though.... 

Go with Prudential if you're in the states.  It wasn't so bad.  I told them I smoke 3-4 times a week, and had no tobacco/nicotine in my  blood.  I agree, better to pay for it extra up front than risk your loved ones get stiffed if an autopsy finds out you lied about this. 

[cigcars]

    * I got on that insurance quote site - and GEEEZZE - wow they wanted just as much (if not MORE) than the life insurance companies not giving us cigar smokers a break!