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No Exam Life Insurance for Smokers | Affordable Coverage

no exam life insurance for smokers

Written By Doug Mitchell

  • Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.
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Holly Mitchell  &

  • Holly Mitchell

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

  • Rob Pinner

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

  • Louis G. LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.
  • Updated on September 24, 2024
Table of Contents

Smokers worried about paying expensive life insurance premiums often ask about no-exam coverage. Many believe that since they’re already paying higher tobacco premiums, skipping the medical exam might be a good idea. While this might sound logical, it’s not always the best choice. In many cases, smokers can still get affordable rates even with medically underwritten policies.

Here’s a quick guide on no exam life insurance for smokers, along with the best options to help you secure coverage.

No Exam Life Insurance for Smokers

We call no-exam life insurance “last-resort” coverage for a reason. It’s typically not the best option unless it’s your only option, even if you smoke.

Here’s why no-exam life insurance for smokers may not be ideal:

  • Higher Premiums: Premiums for no-exam policies tend to be higher than those for traditional policies, because insurers have less data on your health.
  • Lower Coverage Caps: Coverage limits for no-exam policies often max out at $350,000, while medically underwritten policies can provide millions of dollars in coverage.
  • Waiting Periods: Many no-exam policies come with waiting periods before full benefits kick in, often ranging from one to two years.

If smoking is your only high-risk lifestyle issue, a medically underwritten policy may be more affordable than you think.

How to Get the Best Life Insurance Rates If You Smoke

To secure the best rates on life insurance for smokers, work with an independent agent like us here at BestLifeQuote.com. Independent agents can offer policies from various insurers, helping you find a policy that best fits your situation.

Best No-Exam Insurance Options for Smokers

If no-exam coverage turns out to be your best option, it’s easy and quick to get. You could have coverage in place within 48 hours if all goes well. However, consider working with an independent agent for tailored solutions.

Here are the two types of no-exam life insurance you can consider:

Simplified Issue Life Insurance

Simplified issue insurance doesn’t require a medical exam, but it includes a detailed health questionnaire. Depending on your responses, coverage can go up to $350,000.

Guaranteed Issue Life Insurance

This policy type requires no health questions and guarantees approval, but coverage typically maxes out at $25,000 to $35,000. These policies also come with graded death benefits and higher premiums.

Finding the Right No-Exam Life Insurance

Life insurance applications often include a simple question: “Do you use tobacco products?” But the answer may not be so straightforward. The meaning of “yes” can vary significantly depending on your smoking habits, whether you’re a daily cigarette smoker or only indulge in the occasional cigar.

FAQs about No Exam Life Insurance for Smokers

Can smokers get no exam life insurance?

Yes, smokers can get no-exam life insurance. However, premiums may be higher compared to traditional policies, and the coverage amount is often limited.

Is no exam life insurance more expensive for smokers?

Typically, yes. Because no-exam policies provide less health information, insurers assume more risk and charge higher premiums.

What is the difference between simplified issue and guaranteed issue life insurance?

Simplified issue policies require a health questionnaire and may offer up to $350,000 in coverage, while guaranteed issue policies offer lower coverage limits and no health questions.

Do I need to quit smoking to get better life insurance rates?

Quitting smoking can lower your rates over time, but even if you continue smoking, working with an independent agent can help you find the best available rates.

How soon can I get approved for no-exam life insurance?

Many no-exam policies can be approved within 48 hours, depending on the insurer and application process.

Conclusion

Regardless of whether you smoke, securing life insurance is essential for the financial well-being of your loved ones. Even with the complexities surrounding smoking, you can find affordable life insurance coverage tailored to your needs.

At Best Life Quote, we’re here to guide you through the process and help you explore all your options, whether they involve a no-exam or medically underwritten policy. Use the life insurance quoter on this page today to get started and find the best life insurance coverage for your situation.

 

Picture of Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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