Contrary to the popular belief, the insurance companies will not really take pleasure from knowing that their policyholders are into smoking or other activities that may decrease their life expectancy relatively even if it means higher premiums. This is because it means there is a need for the carriers to take on too much risk. They want the applicants to be as healthy as they can be. Normally, there are three categories the insurance firms will put you into, the preferred plus, preferred and standard. The first one normally holds people who are in tiptop shape and without any diseases. More often than not, they get entitled to the lowest possible rates. The second one on the other hand embraces individuals who have minor illnesses but not engaged in extreme sports and other dangerous activities. The standard classification welcomes applicants who drink and smoke. However, they would need to pay for the most expensive premiums.

However, if a person continuous to smoke at the time that he/she applies for a life insurance policy, his/her rates will be significantly different from the standard, preferred and preferred plus individuals. However, health insurance for smokers is different in terms of the premium rates because they are significantly much higher than health insurance for normal and healthy individuals.

In the insurance industry, a person is considered as a smoker if he/she answers ‘yes’ to the smoking question on the application form. A person who uses tobacco products which include cigarettes, cigars, and chewing tobacco within the past three years should be honest enough to answer ‘yes’ on the smoker or non-smoker question. A person who from time to time uses tobacco products is considered a smoker according to the standards of insurance companies. However, this person’s urine test will not indicate that he/she is a smoker because traces of tobacco will not show up. If this is the case, the person may say ‘no’ to whether he/she is a smoker or not depending on his/her conscience.

The rates of a smoker and non-smoker are totally different from each other. For example, if you compare the quotes of a non-smoking and a smoking 35-year old male for a 20-year $100,000 term insurance policy; the healthy non-smoker would have to pay $95 to $117 per year. On the other hand, the healthy smoker will have to pay $288 to $308 per year. The difference in premium rates are smokers will have to pay is nearly three times that of what a healthy non-smoker will have to pay.

Because rates are competitive, most insurance companies try to find out as much as possible about a potential policy buyer’s health. The application of a non-smoker will be carefully scrutinized and the urine results will be examined extensively. However, if a person who smokes wants to get lower premium rates, he/she may try to fool the urine test so that he/she may be categorized as a non-smoker and get affordable rates. According to different doctors and medical experts, the nicotine level in a smoker’s urine can be lowered to a level that it can escape detection. The body can break down and metabolize blood nicotine within 72 hours. This means that if a smoker can abstain from smoking for at least 3 days before the medical screening exam, then he/she can pass the urine test and be classified as a non-smoker.

This does not necessarily mean that you can or you should make an attempt to misrepresent details. Keep in mind that this may have a costly price both in the literal and figurative sense. If you will be found out, your carrier reserves the right to terminate the policy and to hold back all the premiums you have paid. The papers you have submitted are reviewed not only at the time of your application, but when your beneficiaries claim the proceeds upon your demise as well.

Insurance plans have some sort of limitations too. For instance, there is a clause that avers that in the event that the policyholder meets his demise within the first two years of the plan, the carrier will only pay out to the beneficiaries all the premiums that the insured paid. As for health insurance for smokers, the terms and conditions of the two-year clause slightly differs. If the policyholder’s death will be caused by any illness that is brought about by smoking within the specified period, the whole proceeds may not be paid out.

As advised by Gregory Winans, in order to make the best decision possible, you need to fully equip yourself with all the information before taking the non recourse action. Visit his site for other specific information such as life insurance for smokers today.

Article by Gregory Winans who is a specialist in life insurance. For more information, visit his site at http://www.termlifeinsuranceforsmokers.com.

Author Bio: As advised by Gregory Winans, in order to make the best decision possible, you need to fully equip yourself with all the information before taking the non recourse action. Visit his site for other specific information such as life insurance for smokers today.

Category: Finances
Keywords: health insurance for smokers