Smokers Life Insurance Quotes

How much does term life insurance cost for smokers?

As you most likely already know, smoking tobacco increases your rates, especially if you’re older. A 30-year-old smoker may pay twice the amount of a nonsmoker. A 40- or 50-year-old person may pay even more. Here are the average annual premiums for term life death benefits of $250,000 for people classified as “Regular” health. 

Average Annual Premiums for Term Life death benefit of $250,000

Health profile and term lengthAge 30Age 40Age 50Age 60
Female smoker 10-year term$448$704$1,508$3,279
Female smoker 20-year term$602$1,166$2,337$5,406
Female smoker 30-year term$910$1,634$3,669$13,030*
Male smoker 10-year term$565$885$2,003$4,492
Male smoker 20-year term$753$1,363$3,141$7,107
Male smoker 30-year term$1,164$2,131$4,460$13,030*

*Limited quotes available. Data source: Compulife Quotation System as of Jan. 2019.

Best Life Insurance Rates for Smokers

The best life insurance company for smokers will depend on your method and frequency of tobacco use. Among the top-rated insurers, Banner, Northwestern Mutual and Transamerica offer some of the best term life insurance rates for cigarette smokers. Though, if you use other forms of tobacco, such as e-cigarettes and cigars, or nicotine products, the cheapest life insurance company may vary based upon your usage. Prudential, for instance, may offer nonsmoker rates if you vape, using nicotine gum or the patch, or chew tobacco.

If you’re currently a smoker but are looking to quit, you likely won’t qualify for the best life insurance rates for at least 12 to 24 months after you’ve stopped using tobacco. In this case, the most affordable option may be to purchase a cheaper policy with a short term, then buy a longer-term policy once you’ve quit for long enough to qualify for nonsmokers’ rates. Alternatively, you could purchase your intended policy then ask for a health class reconsideration—but you should check with your life insurance company as to whether this is an option. To help you decide which life insurance policy is right for you and your family weve compiled a list of the top life insurance companies that serve the smoking community below.

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