by Guest » Fri Mar 08, 2013 02:36 am
I recently saw an ad promoting non smoker rates for smokers. The catch was they had to quit within 3 months or else pay smoker rates or the policy would be cancelled. Any info on which company would be appreciated.
Posted: Fri Mar 08, 2013 07:18 am Post Subject:
That's what it was - an AD!
And you saw both the company and identified the catch.
Seek help from a local agent for the policy that would suit you. This is a forum where insurance queries are solved, and the community doesn't promote companies.
Posted: Fri Mar 08, 2013 04:51 pm Post Subject:
Almost any insurance company will reduce the premium on a tobacco-user policy if the insured signs a declaration that they have not used tobacco in any form in the last 12 months.
Any "ad" that claims non-tobacco rates for tobacco-users is mostly a come-on intended to get you to apply for insurance. How realistic is it that you will stop smoking within 3 months, and continue to not smoke for at least the next two years after that (this is a condition that was probably not discussed in the ad)?
If you are a tobacco-user, expect to pay at least double what a non-tobacco user the same age as you pays for the same coverage.
Posted: Mon Apr 15, 2013 08:29 pm Post Subject:
Transamerica has preferred smoker rates if you meet the criteria.
Posted: Mon Apr 15, 2013 09:10 pm Post Subject:
And exactly what is a "preferred" smoker?
Posted: Mon Apr 15, 2013 09:23 pm Post Subject:
...meaning that if all other criteria is met--height/weight, health, etc...the client can receive better than standard smoker rates.
Posted: Tue Apr 16, 2013 03:57 am Post Subject:
Yes, several carriers have preferred smoker rates. This is actually a semi-niche Northwestern Mutual and New York Life are competitive in. Especially NML if you can qualify for their Preferred Best smoker rate, you can get a pretty good rate for a smoker.
Posted: Wed Apr 17, 2013 01:47 pm Post Subject:
Term insurance is relatively cheap but the premiums get more expensive as you get older and your health deteriorates;term life insurance for smokers will also cost more.
Posted: Thu Apr 18, 2013 06:33 am Post Subject:
but the premiums get more expensive as you get older and your health deteriorates
Not always! Perhaps you have heard of Level premium term insurance.
Posted: Fri Apr 19, 2013 06:55 am Post Subject:
Research on this better before you actually take the plunge.
Posted: Fri Apr 19, 2013 01:53 pm Post Subject:
Don't get any insurance policy on the basis of promotional offers. If you quit smoking, then you can manage to get favorable terms on premium.
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