Smoker life insurance! What is smoker life insurance policy really, is there a special policy for those who choose to smoke?
The phrase may sound like there is a special plan for smokers but let me assure you this is not so.
Life insurance companies are in business to make money, premium cost depend on how long the applicant is expected to live.
A person who does not smoke is likely to live longer than a person who smokes, a smoker is like to die sooner than a person who does not smoke. Cigarette smoking cause disease.
What life insurance companies do is to charge a person extra if s/he smokes. Let us look at the varying categories assigned to applicants
Each of the above categories are divided into 2. The lowest and most favorable life insurance rates are charged to the applicants who do not smoke. The smoker rate is a little higher than the non-smoker rate.
Like any life insurance policy you have the right to add riders to your policy, the most common are the waiver of premium rider and the accidental death benefit rider.
These riders apply, if you select them, whether your policy is characterized as a smoker life insurance policy or a non-smoker policy.Home
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