Is there such a thing as life insurance for smokers? If you are over the age of 50, is there a senior life insurance policy that offers coverage to a smoker? The short answer is yes, you may be able to obtain a life insurance policy if you are a smoker over the age of 50 with the Quit Smoking Advantage from Americo. While life insurance does exist for smokers, it’s important to understand how it works and how smoking can affect your policy.
What is the Quit Smoking Advantage?
According to the CDC, the use of tobacco products is the leading preventable cause of cancer and they affect more than just your lungs. That’s why, most insurance policies won’t cover smokers. The Quit Smoking Advantage from Americo Senior Life, however, is a whole life insurance policy that incentivizes clients to stop smoking. Smokers can receive whole life insurance through the Eagle Premier Smoker Policy, which offers nonsmoker rates for the first three years of the policy.
As long as you can provide satisfactory evidence that you have quit smoking for a minimum of 12 months before the third anniversary of the policy, your premium and death benefit will remain the same. This gives smokers the coverage they need and the motivation to quit. Here are a few common questions we hear about this policy.
Does this apply to all nicotine use?
Yes, this applies to ALL nicotine use. Whether you chew tobacco, smoke a pipe, or even use nicotine succession devices such as the patch or gum, it is considered nicotine use. Make sure to ask your insurance agent for a complete list of nicotine products. If you plan to use any nicotine succession devices to quit smoking, you’ll want to do it prior to the second year the policy is in effect.
Will the policy be issued as a smoker’s policy?
The policy will be issued as an Eagle Premier Smoker policy. You will receive nonsmoker rates for the first three years. As long as you provide sufficient evidence that you have ceased your use of any nicotine, you’ll keep your policy at its current rate and benefits.
Does being a smoker affect the amount I pay for coverage?
Generally speaking, yes, being a smoker will increase premiums and lower death benefits, but that’s one of the advantages of the Quit Smoking Advantage policy. You can receive nonsmoker rates for the first three years, which gives you time to kick the habit.
Can I apply for the Quit Smoking Advantage if I am over the age of 50?
Americo Senior Life is dedicated to serving seniors with the coverage they need at an affordable rate. Even if you are a smoker over the age of 50, you can still apply for the Quit Smoking Advantage.
What happens if I don’t quit smoking?
If you don’t quit smoking within the determined time frame, you have two options. The first is to keep your premiums, and decrease your benefits. The second option is to keep your benefits, and increase your premiums. If you choose to go with the second option, you have to contact your agent and submit a request.
If I stopped smoking prior to purchasing the policy, can I get a nonsmoker policy?
If it’s been less than 12 months since you quit smoking, you’ll still need to apply for a smoker’s life insurance policy. But you can request a change to the status as early as the first anniversary of the policy.
What if I quit smoking and was issued the nonsmoker policy, but then started smoking again at a later date?
You should report any lifestyle changes to your agent. Your policy will likely be changed to a smoker’s life insurance policy, and your rates will likely increase. Being honest ensures that you receive the coverage you are paying for, and your loved ones are protected.
How Can I Quit Smoking?
Over half of American smokers report the desire to quit. Smoking is proven to decrease life expectancy by at least 10 years, and quitting is one of the many positive choices we can make to improve our overall health. Here are some helpful tips to get you started on your path to success. Before making any changes to your medications, your diet, or your exercise regimen, be sure to speak with your doctor or healthcare professional to determine what’s best for you.
- Counseling – A counselor that specializes in helping individuals quit smoking can offer advice on how to cope with the stress of quitting and can give you the tools you need to be successful.
- Medication – There are several medications on the market that can help with quitting smoking. These medications work by decreasing the urge to smoke, and helping manage withdrawal symptoms. Some examples are prescription medication, the nicotine patch, gum, and lozenges.
- Exercise – Exercise is known to decrease stress and nicotine cravings. Routine exercise also improves your overall health, so try to set time aside at least 10 minutes a day to work out.
- Combining all three – The more tools you have in your toolbox, the better your chances of success. This is true for quitting smoking as well. You increase the likelihood of quitting if you deploy as many methods as possible. Don’t keep putting it off, talk to a medical professional and get started on your journey to a smoke-free future now.
How Americo Senior Life Can Help
Even as a smoker, you may be able to obtain an affordable life insurance policy through Americo Senior Life. The application process is simple, and you can be pre-approved in minutes. In addition, the Quit Smoking Advantage can give you the incentive you need to create a healthier lifestyle for you and your loved ones. Apply today to get the coverage you want and the peace of mind you need.
Issuance of policy may depend on answers to medical questions. The Quit Smoking Advantage allows you to receive an Eagle Premier Smoker policy with Nonsmoker rates for the first three policy years. Prior to the third policy anniversary, if you can provide evidence satisfactory to Americo’s requirements that you have quit all nicotine products for at least 12 months, your Death Benefit and premium will remain level. The insured is required to discontinue all nicotine use. If you are unable to quit the use of nicotine products, the face amount will be reduced and premium will not change, or you can contact Americo to increase your premiums to maintain the face amount.
Americo Senior Life is a marketing website representing Americo Financial Life and Annuity Insurance Company (AFL). Final Expense Whole Life Insurance policies (Policy Series 311/312/313), Eagle Premier Smoker and the Quit Smoking Advantage (Policy Series 311) are underwritten by AFL, Kansas City, MO, and may vary in accordance with state laws. Not all policies and benefits are available in every state. AFL is authorized to conduct life insurance business in the District of Columbia and all states except NY.