How cutting our cigarettes can help you save on life insurance.

When you apply for life insurance, one of the first things the insurance company will ask about is whether or not you smoke or use tobacco products.  Smoking, chewing tobacco, and using other nicotine products are a concern for life insurance companies because they increase your chances of life-threatening health risks significantly.  As a result, life insurance companies will charge you much higher premiums than nonsmokers.  This is why, if you want to save on your life insurance, you should quit smoking.  But just how much can you expect to save?  Here's what you need to know. On average, smokers pay 100% to 300% more for term life insurance than nonsmokers.  This is because smoking increases your chances of developing serious health issues such as cancer, heart disease, respiratory disease, and so on.  When you quit smoking, you can improve your health and save on your life insurance coverage. If you want to gain access to lower life insurance rates, then you need to be in it for the long haul.  Typically, life insurers will not change your status to nonsmoking unless you have quit for at least 12 months.  Even then, you will likely have to wait longer to prove that you are clean, usually three to five years.  Additionally, reclassification may require you to undergo another medical exam.  While this sounds tedious, the amount of money you will save every year makes it more than worth it. Because life insurance for smokers is so expensive, many believe that they should put off getting a policy until they kick their bad habit.  However, procrastinating on life insurance is risky for you and your loved ones.  Because quitting can take time, your family might be without financial protection for years at a time.  Rather than letting your loved ones be at risk, it's better to secure life insurance coverage as soon as possible.  While this will mean higher costs, you can eventually unlock savings so long as you are committed to quitting. This is what you need to know about saving money on life insurance by quitting smoking.  Do you have additional questions about your life insurance coverage?  If so, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California.  Our dedicated team is eager to assist you with all your personal insurance needs today.