Regular Smoker Life Insurance Coverage Miami Florida FL
Reader’s Question:
What options do I have for life insurance coverage here in Miami, Florida if I am the type who smokes regularly?
Cindy
Miami, FL
You would still have about the same life insurance options there in Miami, Florida as would a non-smoker, the only real (and big) difference would be the amount of life insurance premiums you will be charged for being a regular smoker. Life insurance companies typically charge three, even four times, higher premiums for someone who smokes. Someone categorized as a “non-smoker” (not having used nicotine products for the last three years) can get a policy with a face value of $500,000 and only pay around $23 – $35 monthly on average, while a smoker would have around $60 to $80 for premiums just to get the same level of coverage.
You could choose to get a No-Exam or Guaranteed Acceptance life insurance coverage but these tend to be more expensive since there is no medical data or information to determine how long you will live, hence you are automatically tagged as a high-risk customer.
Some people do tend to pretend that they are non-smokers to get a better rate and you may even pass the medical exam if you have not smoked for the past 72 hours prior to taking the test. If you chose to do the same, just remember that you have a legal contract with the life insurance company and if you death is related to your smoking then they may opt not to grant your death benefits.
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