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The Best Term Life Insurance for Smokers: Sample Rates, Top Companies, & How to Apply

by Jeff Root

The Best Term Life Insurance for Smokers

Last Updated: April 2021

For smokers, term life insurance is going to be more expensive. So it’s very important that you find the lowest-cost life insurance for smokers on the market.

Choosing the right company can save you hundreds or even thousands of dollars every year because some companies view smokers more favorably than others.

The first step to finding affordable term life insurance rates as a smoker is to compare all the top life insurance carriers on the market.

  • 4 Things Smokers Should Know About Life Insurance
  • Sample Term Life Insurance Rates for Cigarette Smokers & Vapers
  • The Best Term Life Insurance Companies for Cigarette Smokers & Vapers
  • Tips to Secure Lower Rates on Life Insurance for Smokers
  • How to Apply for Term Life Insurance for Smokers

Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…

Smokers will pay more for life insurance. Not all types of smokers or tobacco users will pay the same. Some life insurance companies view smokers more favorably than others, so it’s important to compare quotes from multiple carriers to get the best rates.


4 Things Smokers Should Know About Life Insurance

A few important things to know that can mean the difference in saving $1000’s of dollars:

1. Occasional Smokers Can Get Non-Smoker Rates

If you’re a “social smoker” and smoke only 1-2 times per month, you can get Preferred Best (1x max per month) or Preferred (2x max per month) non-smoker rates. You must test negative for nicotine in your system to qualify for these rates and there’s only 1 company that offers these non-smoker rates to occasional smokers.

Please call us and we’ll provide you with quotes for this company. Please note, if you were given “Smoker” rates from a previous life insurance application and want to re-test for the “Non-Smoker” classification, this non-smoker offer won’t apply.

Smokeless Tobacco Users can also get Non-Smoker rates!

If you are looking for life insurance and use smokeless tobacco like dip or chew, or use a nicotine patch or nicotine gum, you do not have to pay smoker rates. You can obtain non-smoker rates with several carriers. The key is choosing the right life insurance company.

2. Cigar Smokers Do Not Have to Pay Smoker Rates

If you are looking for life insurance and smoke cigars, you don’t have to pay the expensive “Smoker” rates as long as you use the right company. Again there are a few companies that will give non-smoker rates to cigar smokers.

3. Marijuana Smokers Do Not Have to Pay Smoker Rates

If you’re an occasional marijuana user or have a prescription to smoke marijuana, you don’t have to pay smoker rates with certain companies. Most companies will give you smoker rates and sometimes a lower health classification, but if you use the right life insurance company, you can get around that.

See more about life insurance for marijuana users here.

Maybe you have other health conditions such as someone searching for life insurance for overweight people. We can answer your questions and help you get the coverage you deserve.

4. Smokers & Vapers Should Compare Multiple Companies to Find Affordable Life Insurance

If you don’t fall into any of the above categories and have smoked cigarettes within the past year, finding the best term life insurance rates for smokers means searching the whole life insurance market.

People always contact us asking for a specific company because “they heard Transamerica was the best life insurance company for smokers”. I’ll show you below, that there isn’t one best life insurance company for smokers.

Life insurance for smokers is considered an area of high risk life insurance because the company is taking on more of a risk with the client. Finding the right company that will look favorably at your risk is the key.


Sample Term Life Insurance Rates for Cigarette Smokers & Vapers

Rates for smokers will always be higher than non-smokers. Whether you smoke cigarettes or vape, you will be in the same rate class.

Below we have some sample rates to give you an idea of what you might pay.

Rates for Male Smokers

Below are life insurance rates for 40 year olds. These quotes are for a 40-year-old male looking for $250,000 of coverage for 20 years at preferred rates can expect these rates:

Company Monthly Rate
Banner Life Insurance $67.38
Transamerica $66.38
ING Reliastar $70.26

Banner Life, Transamerica, and ING are the best life insurance companies for this male smoker. However, this isn’t the same for everyone.

If we adjust a few factors, we get different results.

Here are life insurance rates for a 50-year-old male for $250,000 of coverage for 15 years at standard rates:

Company Monthly Rate
Banner Life Insurance $169.75
SBLI $173.57
American General $175.35

Notice that Banner Life Insurance has the best rates followed by 2 companies we didn’t see in the top results before: Savings Bank Life Insurance and American General.

Rates for Female Smokers

A 40-year-old female looking for $250,000 of coverage for 20 years at preferred rates can expect these rates:

Company Monthly Rate
Banner Life Insurance $55.66
American General $56.00
Pacific Life $55.67

Here are life insurance rates for a 50-year-old female for $250,000 of coverage for 15 years at standard rates:

Company Monthly Rate
Banner Life Insurance $127.38
Transamerica $128.14
American General $127.39

The reason I’m showing you these results is to illustrate the fact that there isn’t a “best” term life insurance company for smokers.

Your rates will depend on:

  • Your age
  • Coverage amount
  • Term length
  • Health situation
  • State of residence
  • Other factors

The Best Term Life Insurance Companies for Cigarette Smokers & Vapers

It’s always best to compare as many top life insurance companies as possible to get the lowest rates. However, we typically find one of these three companies to be the best for smokers.

Banner Life Insurance

Banner life insurance logoBanner Life Insurance is best for cheap term life insurance. In the majority of scenarios, Banner came up with the best rates for current smokers.

American National

American National life insurance company logoAmerican National is a great option for smokers who want term life insurance with living benefits.

Mutual of Omaha

Mutual of Omaha company logoIf you need the best burial insurance for smokers, get a quote from Mutual of Omaha. When you compare with other top carriers they often have the best rates.


Tips to Secure Lower Rates on Life Insurance for Smokers

Aside from working with an independent insurance agent, let’s look at some of the ways you can grab the cheapest plan.

Take the Medical Exam

You’re going to have to take a medical exam unless you choose to purchase a no medical exam policy.

No exam life insurance is typically more expensive, so it is best to qualify with a medical exam. Getting better results from this exam means lower insurance rates for your coverage.

Improve Your Health

Improving your health is going to lower your insurance rates. There is nothing wrong with enjoying your favorite foods, but it’s time that you switch out the junk food for healthier options. Having a healthier diet is going to help you lose weight, lower your cholesterol, and have a wonderful impact on your overall health, which is going to translate into lower insurance premiums.

Maybe you’re concerned because of a health condition such as someone looking for life insurance for diabetics. We can help answer your questions and point you in the right direction.

Exercise Regularly

Next, start getting regular exercise. Consistent exercise is going to help supplement your diet and help shed those extra pounds that you’ve been trying to lose. Additionally, it’s going to work wonders on your life insurance premiums. You don’t have to be a marathon runner, or professional bodybuilder to get lower insurance premiums on your life insurance policy.

Try to Quit Smoking

If you really want to get the most affordable term life insurance plan, you should quit smoking once and for all. There are millions of Americans that want to kick the habit once and for all. Maybe the idea of saving thousands of dollars on a life insurance policy (and what you’ll save on not buying cigarettes) is the motivation that you need to kick those cigarettes for good.

Choose Less Coverage

One of the biggest determining factors that is going to be used to calculate your insurance rates is how much coverage you buy. The bigger your plan, the more you pay. If you need a million dollar policy, you’ll pay more than a $250,000 policy.

How Much Life Insurance Should You Buy?

There are several things that you should account for when you’re calculating your insurance needs. The first and most important thing is your debts and final expenses that you would leave behind to your loved ones.

The secondary goal of your life insurance is to give them the resources they need to replace your salary without sacrificing their standard of living. Add your income into your life insurance needs.


How to Apply for Term Life Insurance for Smokers

The easiest way to apply for life insurance is to use an independent agent who can compare companies for you. This will save you time and money on your policy.

A good agent can walk you through every step of the process from the application, to the medical exam, to getting covered. They will also know which companies will view smoking and your specific situation most favorably, saving you money.

Start by filling out the quote tool on this page, or giving us a call to get the right life insurance policy today!

Also, be sure to check out our other guides below to learn more about how different types of tobacco use can affect life insurance approval and rates:

  • E-Cigarettes and Life Insurance
  • Life Insurance for Cigar Smokers
  • Life Insurance and Chewing Tobacco

About Jeff Root
Jeff Root
Jeff Root is the owner of Rootfin. He is an independent life insurance agent, licensed in all 50 states & the District of Columbia. Jeff is also licensed to sell disability insurance and medicare insurance. Jeff is an accomplished author and a speaker at industry-leading insurance conferences around the US. He has helped 1,000's of people purchase insurance online and over the phone.

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