Are you a tobacco, cigar, or e-cigarette user who’s curious to read what insurance companies have to say about insuring you? Well, look no further! We have some useful information on this topic. Or perhaps you don’t smoke but know someone who does and is wondering why their premium is much higher than yours. Here at LSM Insurance, we have constructed an infographic answering basic questions in regards to obtaining life insurance for smokers.
Interesting infographic. It’s easy to understand and I find it has answered most of my questions. It’s unfortunate that e-cigarette smokers still get the smoker’s penalty.
I think this is especially troublesome for E Cigarette users who do not use nicotine.
Good and informative piece. However, and as an important caution, I would add that the reference to 12 months doesn’t fairly reflect the entirety of the picture, unless this brochure only refers to the “Regular” / “Standard” class. Many (most) of the Preferred “non-smoker” and Elite classes require a period of no tobacco, nicotine or related substance consumption that is longer than 12 months and may extend to as long as a minimum of 60 months. The risk of not providing true information is the same.
There is also a serious hazard that I can see with criteria that refer to “one cigar per month” or the like. Bluntly put “one cigar per month” is different from “12 cigars per year”. For instance, one who smokes 2 cigars in a single months to celebrate two births in the same month and then none for the remaining 12 months would violate the criteria of “1 cigar per month”. Therefore, it is imperative not to confuse “1 cigar per month” with “12 cigars per year” unless these are conjoined in the sentence “one cigar per month OR 12 cigars per year”. Even then, there would remain the question as to what is defined as a “year” (calendar year OR any period of 365 days’ duration)
You make a versus good point on 1 cigar per month versus 12 per year. Some one who smokes two in a month but under 12 a year would not qualify under the one per month wording.
I also agree the application question wording is crucial and if you need clarification the insured should get it in writing.