Life Insurance After Quitting Smoking Best Rates on Life Insurance After your Quit Smoking
In this tutorial, I’m going to talk to you about what to do when you’ve just quit smoking maybe three or six months ago, and looking to get a life insurance policy. How do you get the best rates, and how do you actually get nonsmoker rates, coming up in this tutorial. So you quit smoking six months ago, and you go to apply for life insurance or get life insurance quotes and guess what? They tell you that you’re still going to pay smoker rates. So the reality is that life insurance companies make you wait 12 months before you get nontobacco rates for life insurance after you’ve quit. Why? Because a lot of people who quit smoking for a couple months end up going back, and so they want to see that your.
Tobaccofree for at least 12 months before you can get nontobacco rates. So what do you do? How do you get a life insurance policy now while still ending up getting the best possible rates that you can? So here’s a couple strategies you can do. One, many life insurance companies allow you to retest one year after you’ve taken the policy. So if you get a policy now, pay the smoker rates, a year from now, you can do a urine sample test, and you can lower your rate to a nonsmoker rate. That’s one strategy. Now that strategy is not necessarily the best strategy, because if you get a 20 or 30 year policy, smoker rates are going to be pretty high. They are going to be three to four times.
Higher than nonsmoker rates. So what’s an alternative strategy that you could do? Well, one of the things you could do is you could buy an annual renewable term or a one year term policy. This is the cheapest type of term policy that exists. The strategy is not a good longterm strategy, because the rate goes up every year. But it’s a great shortterm strategy. So in your case, let’s say you quit smoking six months ago. You need to wait another six months until you get nonsmoker rates. So you buy an annual renewable policy, a one year term policy and pay the smoker rates. Since it’s a one year policy, rates are going.
To be pretty good. After you get to the 12 month point, let’s say another 6 months from now, you just apply for a new policy at nonsmoker rates and replace the policy. This way you’ve limited your time paying smoker rates, and you’ve also paid the cheapest rates possible as a smoker by getting a one year term policy. These are the kinds of strategies that I help people come up with when they’re looking for life insurance. So not only do I help you shop and compare all the top companies and help you get the best rates, but I also am there to advise you on what are the best strategies in order to maximize your money for your coverage and be able to get the best rates and figure.
Out what are the next steps, like taking out a shortterm policy and then applying for a longer term policy once you are considered a nonsmoker by the life insurance companies. So, hopefully this helps. I do this all the time with people who are smokers, and it works very well. They’re able to save money. If you’re looking to get life insurance quotes, you can click the link below if you’re on YouTube. Or if you’re on our website, just compare quotes right on the site. You can visit the site ChooseTerm , or you can call us 8005740245, extension 101. Thank you.