Average Cost of Life Insurance for Smokers
On average a 55 year old man smoker will pay around $95 per month for a 20-year term life insurance policy in the amount of $100,000. A 45 year old male, user of tobacco, will pay around $44 per month ($528 per year), for the same policy. It pays to get life insurance coverage early in life.
Smokers and vapers always pay higher life insurance premiums in comparison to a non-smoker - sometimes two to three times more.
So, finding an affordable life insurance policy for a smoker is more challenging.
In addition, staying healthy, and maintaining a reasonable weight will work in your favor. Being overweight and smoking will increase your rates a lot.
Typical policy amounts for smokers and tobacco users:
If you want to find the cheapest rates, it is very important to do research and compare many quotes before choosing a policy.
You may be wondering how much more will a smoker policy cost, a research of life insurance policies for smokers vs non-smokers reveals some amazing results. For example; a 29-year-old female smoker weighing 115 pounds and standing 5’4” tall will pay $50-$90 per month for a 30 year term life insurance policy valued at $300,000. The same non-smoker female will only pay $20-$60 per month.
A 29-year-old male smoker weighing 170 pounds and standing 5’ 11” tall will have a premium between $60-$135 for the same policy - this is not cheap. The age factor (29) can drop the Term Life Insurance Policy to 15 years, the smoking male still pays on average $30 - $54 per month, which is more than a nonsmoking female would pay for a 30 year term policy.
CLICK HERE for a Smoker Life Insurance Quote!
Insurance Company Perspective
Smokers might sometimes view the increase in level term life insurance rates as discrimination, but it’s important to analyze this from the insurance company’s point of view. In general, smokers (nicotine users - cigars, pipe, or cigarettes) stay out of work more often than non-smokers due to respiratory problems. It is believed but yet not clinically proven that smoking lowers the immune system defenses, therefore causing smokers to be more susceptible to certain illnesses than a non-smoker.
Another reason nicotine users pay higher insurance premiums is because of other smoking-related illnesses that may occur and cause premature death, such as lung cancer, heart attack and heart disease, emphysema, severe asthma, stroke, and other forms of cancer. Studies done in the last five years also found a connection between heavy tobacco smoking and Alzheimer’s disease.
Cigarette Smoker Insurance Quote!
The Best Choice for Smokers
When buying life insurance for smokers on a monthly basis, the 10-year level term policy is the cheapest, but other issues must be taken into consideration before making a decision. Term policies expire at a certain date; at that time the policy needs to be converted to whole life, cash it in, or renew the policy. At that point you will be 10 years older, so financially speaking it's safer to invest in whole life ins., in order to keep the premium rates constant throughout your life.
A smoker (cigarette, cigars or pipe), who is looking to buy life insurance, should consider several options before making a final purchasing decision. These options include; term life insurance versus whole life insurance and the length of coverage. All of these factors determine the average premium costs.
Since smokers will be paying higher premiums, it’s important to spend your money wisely. Several sites are available on the Internet for quoting; some don't require any personal information. Others don't always provide with a quote at that time, but will call or email you with the cheapest prices they find.
The most important thing is to read the policy carefully and realize what you are getting for your money. Do a thorough research before making your final decision.
Smoker: Get Your Life Insurance Rates!
Example costs for a 20 year term policy for a male smoker:
| AGE | $100,000 | $200,000 | $500,000 | $1,000,000 |
| 40 year old man | $33.17 | $53.33 | $115.05 | $230.65 |
| 41 year old male | $33.88 | $55.75 | $128.25 | $245.35 |
| 42 year old man | $34.87 | $61.42 | $137.50 | $263.67 |
| 43 year old man | $38.12 | $64.55 | $147.15 | $283.79 |
| 44 year old man | $40.61 | $65.89 | $160.05 | $307.60 |
| 45 year old male | $43.55 | $75.55 | $173.69 | $335.46 |
| 46 year old man | $45.89 | $80.80 | $186.60 | $364.55 |
| 47 year old man | $48.85 | $87.25 | $203.46 | $394.48 |
| 48 year old man | $53.40 | $94.20 | $215.25 | $426.44 |
| 49 year old man | $57.20 | $103.25 | $236.87 | $463.22 |
| 50 year old male | $60.24 | $105.43 | $258.10 | $503.86 |
| 51 year old man | $64.07 | $115.72 | $280.23 | $547.85 |
| 52 year old man | $70.85 | $133.34 | $308.40 | $603.45 |
| 53 year old male | $76.77 | $143.60 | $341.80 | $670.51 |
| 54 year old man | $85.72 | $155.23 | $381.50 | $745.40 |
| 55 year old man | $94.41 | $176.50 | $423.04 | $833.15 |
(Rates as off 10/27/2024 - these are just approximate costs - your rates most likely will be different - the insurance underwriter sets the final rates)
Average rates for a 10-year term life insurance policy for a man, smoker, in good health:
| $250,000 | $500,000 | $750,000 | $1,000,000 | |
|---|---|---|---|---|
| 30 Year Old Man | $30 | $51 | $74 | $84 |
| 40 Year Old Man | $41 | $75 | $109 | $140 |
| 50 Year Old Man | $99 | $177 | $262 | $346 |
| 60 Year Old Man | $230 | $430 | $641 | $766 |
(Rates as off 10/27/2024 - these are just example costs - your rates can be different - the insurance underwriter sets the final rates)
Average premiums for a 15-year term life insurance policy for a man, smoker, in good health:
| $250,000 | $500,000 | $750,000 | $1,000,000 | |
|---|---|---|---|---|
| 30 Year Old Man | $34 | $59 | $85 | $107 |
| 40 Year Old Man | $59 | $99 | $146 | $186 |
| 50 Year Old Man | $127 | $229 | $344 | $438 |
| 60 Year Old Man | $307 | $547 | $819 | $1,036 |
(Premiums as off 10/27/2024 - these are just example prices - your rates can be different - the insurance underwriter sets the final rates)
Average prices for a 20-year term life insurance policy for a man, smoker, in good health:
| $250,000 | $500,000 | $750,000 | $1,000,000 | |
|---|---|---|---|---|
| Age 30 | $41 | $69 | $99 | $129 |
| Age 40 | $70 | $126 | $186 | $234 |
| Age 50 | $159 | $299 | $446 | $566 |
| Age 60 | $377 | $724 | $1,086 | $1,357 |
(Insurance premiums as off 10/27/2024 - these are just examples - your rates will be different - the insurance underwriter sets the final rates)
Cigar Smokers
When it comes to most insurance companies, it does not matter if you are an occasional cigar smoker or an habitual cigar smoker - they will consider you a smoker and your rates will be the same as someone that smokes two packs of cigarettes per day.
I know, it is unfair, but that's the way most life insurance companies operate.
There are, however, some companies that are friendly to cigar smokers and will work with you to get you a better rate than that of a smoker. One such company is Prudential. Prudential is aware that there are many men and women out there who enjoy a cigar once in a while without being "true" smokers, like, for example, smoking a pack or more of cigarettes per day. Thus, making Prudential one of the friendliest companies towards cigar smokers.