Reader’s Question:

Does smoking really have that big of an impact should I decide to get a life insurance policy here in Colorado?

Jake

Lakewood, CO

Yes, smoking habits does have a really big impact in how much you spend for life insurance. Though the actual figures will still depend on the kind of policy you choose and whom you choose it from, and is influenced by factors such as age, health and any pre-existing medical condition, smokers would on average pay more towards life insurance premiums whereas a non-smoker could get the same type of policy, with the same amount of “Face Value” or death benefits for a third or up to a quarter less of the premium rate.

Smoking, as with anything that can cause serious health problems and therefore shorten your lifespan, would be seen by life insurance companies as determining factors and would be reason enough to tag you as a “high-risk” customer. The last thing your life insurance provider there in Colorado would want to do is to pay up the large sum in death benefits due to your untimely death. Hence, the higher premiums charged to you to compensate for that risk. If you still want to have lower rates on your policy, and of course save practically thousands of dollars every year, then it is highly recommended that you speak to your life insurance provider for incentives once you decide to quit cold-turkey. Many insurance companies can actually bring down your rates once you are able to prove that you have not been smoking for at least three years and is living a healthy lifestyle.