Life Insurance for Cigar Smokers

I am an avid cigar smoker. I enjoy the ritual and experience of smoking cigars on a regular basis. It’s one of my favorite hobbies. I don’t believe I should be penalized by my insurance company for participating in something that brings me so much joy.

Unfortunately, many insurance companies charge high premiums for cigar smokers. And, if you misrepresent your smoker status to get better rates, your policy may be canceled or rescinded if the insurer finds out. Here’s what you need to know about life insurance for cigar smokers.

A Premium Disparity

Insurance companies look at a number of different factors when determining how much you will pay in premiums, including your age, health history, occupation and lifestyle choices. Within the health and lifestyle choices categories, tobacco usage has long been recognized as a risk factor, which often leads to higher rates.

Because tobacco use is associated with higher health risks, many insurers differentiate between smokers and non-smokers, offering the latter significantly lower rates. This is not true with all insurance companies.

Underwriting process

When underwriting a life insurance policy for a cigar smoker, insurance companies often want to know the following.

• How often you smoke – Do you smoke one cigar a year, two cigars a day (like me) or nine a day like the proprietor of my local cigar shop?
• Your health – Cigar smokers who are otherwise in good health may qualify for better rates or non-tobacco rates
• Your lifestyle – Factors other than your smoking habits also factor into the equation.

Most insurance companies allow for the occasional celebratory cigar. Some define “celebratory” as once a year, while others define as four times a year. With those companies, you may need to provide a urine test that’s free from tobacco in order to qualify for non-tobacco rates.

Options

You may be wondering, “I don’t want to pay smoker rates for my life insurance. What are my options?”

Fortunately, there are several companies that view cigar smoking separately from tobacco use. These life insurance companies offer non-smoker rates for cigar aficionados, even those who smoke two or more cigars a day like I do. While these companies will underwrite your policy for all other risks, just as all insurance providers do, they will not penalize you for testing positive for tobacco.

The best way to find a good rate is by working with an advisor who has experience implementing cost-effective life insurance policies for cigar smokers. At Scureman and Associates, we share your love of cigars and are here to help you find a life insurance policy that doesn’t penalize you for your hobby.

For more information, please schedule a call.