Did you know…
…not all life insurance companies view smokeless tobacco use the same?
Life Insurance for people who use dip, chew or snuff have historically been classified as smokers when it comes to life insurance. Thanks to more favorable underwriting guidelines for smokeless tobacco users some life insurance companies will now offer non-tobacco rates for those that use smokeless tobacco.
Research has shown that people who use:
…have less risk of various cancers and health conditions than people who smoke. This doesn’t mean smokeless tobacco users have no risk, just that there is slightly less risk!
Also, not all life insurance companies agree with this.
Most life insurance companies will rate smokeless tobacco users as smokers or ‘tobacco’ rates. A majority of the smokeless tobacco users we talk to either currently have life insurance at smoker rates or have been only quoted ‘smoker’ life insurance rates.
The good news?
A few life insurance companies that we work with will offer non-tobacco rates at a substantially lower price than the tobacco rates. Prudential Life Insurance has been the leader for smokeless tobacco life insurance. They understand the risk very well and rate it appropriately.
…and for the occasional weekend dipper:
We can also get non-tobacco rates for those casual smokeless tobacco users. As long as you can pass the test and show no nicotine in your blood AND admit to using smokeless tobacco, you can get non-tobacco rates.
MetLife is the leader in getting these rates. In general, they are priced a little better than Prudential but if you are a regular dipper or chewer, MetLife would not be the best option.
Here’s an example of prices for a regular dipper:
To highlight the price difference between non-tobacco and tobacco rates…here’s an example of a recently placed life insurance policy for a Skoal tobacco user:
40 years old, a daily user of Skoal and wanted $500,000 of 20 year term coverage. His other agent quoted him tobacco rates of $148/month. We quoted and issued a policy through Prudential for $68/month.
If he took that other policy, he would have paid $19,200 more in premium payments over the 20 year term policy! That is just crazy!! This is why we started www.dipsurance.com. We saw a need to educate and help people that chew, dip or use snuff that there are better options for life insurance available out there that most agents don’t even realize!
You can get started by getting a free non-tobacco quote below:
Or if you prefer to get a personalized life insurance quote as a smokeless tobacco user over the phone, please give us a call today to speak with one of our experience agents. We will discuss the options available at the best prices and help you find the top smokeless tobacco life insurance rates!
For those looking for no medical exam options…
When you are ready to apply for life insurance, most plans require you to do a full application and a medical exam. The life insurance application can all be done over the phone and the medical exam can be done at the comfort of your own home.
There are some options for ‘no medical exam’ life insurance for smokeless tobacco users. You can get up to $150,000 of coverage and it’s a term to age 100 plan. The best advice I can give is to call today and speak to one of our licensed experts to see which option is best for you!