-------------------------------
“Ask Jeff" is a weekly post made on the RyanAgency.com Blog.
Submit an insurance-related question to “Ask Jeff”.
-------------------------------
Get in touch
555-555-5555
mymail@mailservice.com
After Quitting Smoking How Long Does It Take to Get Non-Smokers Rates on My Life Insurance?
Feb 28, 2020
Different Companies and Policies Have Different Requirements to be Considered a Non-Smoker
Non-Tobacco (or Non-Smoker) rates are typically available to applicants who have abstained from products for a specified period of time. The time required to abstain from tobacco products differs by carrier - and - the specific rating program.
By way of example, one life insurance company’s (named after an American President) tobacco definition reads as follows:
- Preferred Plus Non-Tobacco Rates
- No tobacco/nicotine products in 36 months. Occasional cigar use of up to 12 cigars a year with a urine specimen negative for nicotine,
- Preferred Non-Tobacco Rates
- No tobacco/nicotine products in 24 months. Occasional cigar use of up to 24 cigars a year with a urine specimen negative for nicotine
Another carrier, (named after a capital sum earning interest) underwriting guidelines read:
- Super Preferred Non-Tobacco Rates
- Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for five (5) years ages 20–80.
- Preferred Non-Tobacco Rates
- Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for two (2) years, ages 20–70. Three (3) years ages 71–85. Exception - 12 or fewer cigars per year with a negative urine.
- Super Standard Non-Tobacco Rates
- Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for one (1) year ages 20–70. Three (3) years ages 71–85
That's probably more information than you wanted to know. Yet, it illustrates how life insurance companies slice and dice their rating programs.
Oh, and you might ask… "How will they know". The answer is, they may not. That is if one who applies passes a urine test with no nicotine showing, and it is not mentioned on any attending physician report.
However, if one were to pass away within the Incontestability Period after applying for life insurance, and there was reason to question the applicant's honesty on the topic, negative consequences may result.
Quitting smoking can result in lower rates for life insurance. Barring a special type of rate and program, a smoker must usually abstain for a year to be eligible for the higher cost non-tobacco rates.
Important note… An applicant's nicotine habits are just one (albeit a significant one ) health factor of many that are considered in the final rate one receives when applying for life insurance.
And, as is revealed above, all life insurance rating plans are not created equal. One non-tobacco rate is not the same as another.
Have more questions about life insurance? We LOVE to help! Please call us today at 607-324-7500
This article may have been originally published at Quora.com.
To see Jeff's Quora.com profile click here.
According to a recent survey, only 37% of renters have renters' insurance, leaving the majority at risk of financial loss. With the low cost to transfer your risks of loss, there's never been a better time to consider tenant insurance.
Personal injury is different from bodily injury and is treated as such by homeowners' liability forms. Learn more>
The purpose and importance of annoying insurance audits for determining the appropriate rate for your business
What does Bait-and-Switch have to do with insurance? And why has it recently been in the news?
The insurance landscape is currently facing unprecedented challenges. At The Ryan Agency, with over 60 years of service to our community, we understand that this might be the toughest insurance market yet.
When your car is hit while parked and unattended, it's important to know your options. Here are some steps you can take to protect yourself and get your car repaired.
Understanding Insurance Responsibility After an Accident: Who Pays for What? Delve into the intricacies of insurance responses when accidents occur.
Discover the real history of New York's Supplemental Spousal Liability Insurance Coverage and its Impact Today.
As electric bikes soar in popularity, questions about insuring them become essential. Discover the options for coverage and how E-Bike insurance differs from traditional policies. Get expert advice on the best ways to protect your investment.
Unlock the Secret to Employee Classification: Protect Your Business, Avoid Costly Consequences. Discover the key to proper classification and safeguard your future.
