Cigar smokers and life insurance

Posted on June 4, 2008 and updated January 25, 2011 in Life Insurance Canada News
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Cigar aficionados beware! Indulging in the occasional stogie could cost you more than the $150 you paid for that box of Cuba Caimans. Most, but not all, life insurers still let you have the occasional large cigar – usually one a month.

In the latest addition to our Life Insurance Medical Tips, we give you all the details on how nine different insurance companies in Canada treat cigar use and non-smoker rates.

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Horace
Horace

how can I change the benef on my policy if its irrevocable my ex-wife won’t sign off

karnail
karnail

if i quit smoking today and insurance company gave me smoker rate for term 20 today after 12 month if i given test again and found no tobaccoo
in my blood then insurance company will give me non smoker rate onward but my question is that

is there any insurance company which will return me excess amount which i have paid as smoker rate? .
thanks

Jay
Jay

I think the whole pricing smokers at a higher rate is a big rip off. I’m healthier than almost all the non smokers out there.

Rich
Rich

Thanks for your quick response. I will defintely pass on the articles to some of my friends. Rich

LSM Insurance
LSM Insurance

Thanks Richard … Great question!

Your life insurance premiums are based on your health and lifestyle information at the time you were approved. If the insured starts smoking 3 years after their policy was taken out this does not impact their their life insurance policy.

Life insurance is a unilateral contract. The policy owner can cancel the policy anytime but the life insurance company can not alter contractual provisions in the policy.

Please let me know if I can help further. Regards … Lorne

Rich
Rich

I bit of a convuluted question but what happens if I took out a life insurance policy when I was a non smoker qualified for non smoker rates and start smoking 3 years later. How does this impact my policy?

Thanks a bunch! Rich

Nora
Nora

Hello,

How many cigars can you smoke with Empire Life and still qualify for non smoker rates?

Adir
Adir

Good thing I’m not a smoker!
I’ll forward this article to a few of my ‘smoker’ friends. 😉

Good Article

david chellew
david chellew

Great Stuff!

Richard Parkinson
Richard Parkinson

It is a shame that people don’t realize the impact of what they do. I had a client age 49, looking for $2,000,000 of coverage. The premium difference was $340 per month, smoker vs. non-smoker. He and his spouse got into a heated argument about the cost of smoking, but they settled the argument by him promising to buy her a new car the very next day. The moral of this story is if you are going to smoke, be able to afford to bribe your spouse as well as pay the higher premium.