The first thing you should understand is that MANY (not all) life insurance companies will give you a “smoker” health classification if you admit to cigar use. This will result in life insurance rates more than DOUBLE than what you should be paying.
The number one goal for cigar smokers searching for the best life insurance rates should be to obtain non-smoker rates.
When you’re looking for life insurance and you smoke cigars, you should do A LOT of looking. Based on their views, your rates are going to vary wildly.
Here are the 3 best options for cigar smokers based on your cigar usage.
1. Occasional Cigar Smoker (less than 12 cigars per year)
We consider occasional cigar smoking as smoking less than twelve per year. In this case, the carrier will give you their “Preferred Best” or “Preferred” non-smoking rate class, but you have to get negative results for nicotine on your medical exam.
So if you had a recent cigar and your an occasional cigar smoker, we would recommend scheduling a medical exam for at least two weeks out so you can get the nicotine out of your system.
If you can do this, you’ll qualify for “Preferred Best” or “Preferred” non-smoker from many top rated life insurance companies, including:
American General, Banner, Genworth, ING, John Hancock, Lincoln Benefit Life, Lincoln Financial, Mutual of Omaha, North American, Principal, Protective, SBLI and Transamerica.
2. Moderate Cigar Smoker (12-52 cigars per year)
If you smoke more than 12 cigars per year, but less than 52, you can still get “preferred plus” NON SMOKER rates with one life insurance company:
ING Reliastar offers their best rate class to cigar smokers who smoke less than 1 per week and are currently the only ones doing this. Hands down, this is the best option for this category of cigar smoking.
2. Regular Cigar Smoker (more than 52 per year/1 week)
If you’re a regular cigar smoker, the good news is you can STILL qualify for non-smoker rates…and it’s okay if you test positive for nicotine on the medical exam.
There’s actually only 1 carrier that will offer non smoker rates and that’s Prudential Life Insurance.
Prudential will off you their “non-smoker plus” health classification which translates to “standard plus” with other life insurance carriers. This will be hands down your best option because every other carrier will double your rates by giving you “smoker” rates.
As you can see, we have our pulse on the life insurance market for cigar smokers. We know who offers the best rates based on your usage. On top of that, we aren’t partial to any life insurance company – we work for you. We’ll recommend the best option based on your cigar usage, health situation and lifestyle.
Call us at 888-430-7668 x101 or use the quote form here on RootFin.com and put us to work for you.