Burial insurance for smokers

Do Smokers Pay More For Burial Insurance?

Here’s the bottom line…

To qualify for burial insurance, you’ll typically need to answer some questions so the insurer can learn more about you and your health. This information may include an individual’s gender, age, number of dependents, and whether or not you’re a smoker. Note that the question regarding smoking may sound irrelevant to you, but it may affect your eligibility for burial insurance. 

The good news is that if you’re a smoker, you can still qualify for burial insurance. However, you may have to pay a higher premium price for that policy than someone who doesn’t smoke. By seeking the assistance of an insurer who has access to various insurance carriers, you can find a better premium rate.  Researching is a very important part of the insurance selection process.  When you’re beginning to look for a policy, ask around for quotes and gain an idea of the average cost.  From there, you can see the competitive prices of plans and which ones fit into your budget.

Why are premiums higher for smokers?

Insurance companies are constantly assessing risk.  When they take on a new client and enroll them in a policy, their health and wellbeing is of great interest to the insurance company.  Because smoking can present numerous health risks, insurance companies raise premiums on some policies for smokers.  This protects their company and ensures that they’re able to offer policies to a wide variety of people.

It’s extremely important to always be honest when purchasing insurance.  Smoking is not something that should stand in the way of your admission to a policy, so be up front and transparent.  Hiding medical issues from insurance companies is extremely risky and can have disastrous results.  Being open and honest is the best way to ensure you’re purchasing the right policy. 

Being able to trust your insurance provider is necessary.  They’ll be there to answer your questions and make any changes to your policy if needed.  In order for you to trust them, you must allow them to trust you.  Disclosing medical conditions is a vital part of this.  However, there are some insurance policies that don’t require any underwriting.  If you have a serious health condition, consider purchasing one of these policies and skipping the medical background portion altogether.

Purchasing a policy

Smoking shouldn’t keep you from purchasing burial insurance.  Burial insurance is an excellent way to provide for end-of-life costs and take that financial burden off your family.  Typical funerals can be thousands of dollars, so a burial insurance policy can shoulder some, or all, of that cost.

If you have specific plans for your funeral service, purchasing a policy is one of the best ways to ensure they’re made a reality.  You can pick a policy that allows for the right budget, as well as be specific about how the money should be spent.  If you’re ready to begin that process, you should schedule a free consultation with one of our professionals today.