I have life insurance for myself. However, my husband is a smoker. Are there any affordable policies for him?

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Hadley, Member

@hadley • 11/21/15 This answer was first published on 11/21/15. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, there are affordable life insurance plans for smokers. It depends on the insurance company, but some insurers offer better rates for occasional smokers, compared to regular smokers.

However, smokers may pay as much as 2-3 times more for the same amount of life insurance compared to non-smokers.

Also, if your husband purchases life insurance as a smoker, and then quits smoking, he can contact the insurer and request a re-rate based on his non-smoking status.

A life insurance company will usually require the insured who has quit smoking to be smoke-free for at least 12 to 24 months before they can get a rate reduction on their life insurance plan.

Some of the most competitive insurance companies offering life insurance for smokers include Banner Life, Genworth, Ohio National, Northwestern Mutual, Liberty Life, and Transamerica, among others. By comparing multiple smoker life insurance rates you may be able to find an affordable policy for your husband.

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