Life insurance is a critical part of financial planning, but for smokers, finding cheap life insurance can feel like an uphill battle. Insurance companies typically charge higher premiums for smokers due to the increased health risks associated with tobacco use. However, the good news is that cheap life insurance for smokers is possible—with the right strategy, provider, and type of policy.
This guide will walk you through how smoking affects life insurance rates, tips to find affordable policies, and the best life insurance options for smokers in the USA.
Why Is Life Insurance More Expensive for Smokers?
When you apply for life insurance, providers assess your risk based on age, health, lifestyle, and habits. Smoking significantly increases the risk of diseases like cancer, heart disease, and respiratory issues, which can shorten life expectancy.
As a result:
- Smokers typically pay 2 to 3 times more in premiums than non-smokers.
- Even occasional smokers or users of nicotine patches/vapes may be categorized as smokers.
- Most insurers require a medical exam or at least health declarations.
But this doesn’t mean you’re out of options. There are ways to reduce costs and still get strong coverage.
What Counts as a Smoker to Insurers?
Insurers have strict definitions. You’re usually considered a smoker if you’ve used:
- Cigarettes
- Cigars
- Chewing tobacco
- Nicotine patches or gum
- Vaping devices (e-cigarettes)
- Pipe tobacco
Even occasional or social smokers often fall under the “smoker” classification, although some companies make exceptions for cigar use once or twice a year.
How to Find Cheap Life Insurance for Smokers
While it’s true that smokers pay more, there are proven strategies to get affordable life insurance for smokers:
1. Compare Multiple Quotes
Not all insurers treat smokers equally. Some specialize in high-risk clients and offer cheaper rates. Use online comparison tools or work with a broker who understands the smoker life insurance market.
2. Consider Term Life Insurance
Term life insurance is typically the most affordable option, especially for smokers. It provides coverage for a specific period (10, 20, or 30 years) with a fixed premium.
- Pros: Lower cost, straightforward.
- Cons: No cash value, ends after the term unless renewed.
3. Look into No-Exam Life Insurance
No-medical-exam policies may offer faster approval, though they usually come with higher premiums. Some insurers offer competitive pricing even for smokers, especially younger applicants.
4. Bundle with Other Policies
Some insurers give discounts if you combine your life insurance with auto or home policies. Check if bundling can lower your total premium.
5. Quit Smoking and Reapply
If you quit smoking and stay nicotine-free for 12 to 24 months, many insurers will allow you to reclassify as a non-smoker, drastically reducing your rates—often by 50% or more.
Best Life Insurance Companies for Smokers (2025)
Here are some of the top insurers known for offering affordable policies for smokers:
1. Banner Life (Legal & General)
- Great term life rates for smokers.
- Flexible conversion options to permanent insurance.
2. Prudential
- Known for more lenient underwriting for occasional tobacco users.
- Offers both term and universal life options.
3. AIG
- Competitive rates for smokers with health conditions.
- High coverage limits.
4. Protective Life
- Often among the lowest prices for term life for smokers.
- Multiple term length options.
5. Mutual of Omaha
- Offers simplified issue policies with no medical exams.
- Good for older smokers looking for smaller coverage.
Term vs. Whole Life Insurance for Smokers
| Feature | Term Life Insurance | Whole Life Insurance |
|---|---|---|
| Duration | 10–30 years | Lifetime |
| Premium Cost | Lower | Higher |
| Cash Value | No | Yes |
| Ideal For | Budget-conscious applicants | Long-term wealth planning |
| Flexibility | Less flexible | More flexible with riders |
While term insurance is often the cheapest life insurance for smokers, whole life might suit those seeking long-term value and coverage for final expenses.
How Much Does Life Insurance Cost for Smokers?
Here’s a rough breakdown of monthly premiums for a $500,000, 20-year term life policy for healthy individuals:
| Age | Non-Smoker | Smoker |
|---|---|---|
| 30 | $25–$35 | $65–$90 |
| 40 | $35–$50 | $110–$150 |
| 50 | $80–$110 | $220–$300 |
Tip: Rates vary greatly, so always shop around.
Tips for Lowering Premiums as a Smoker
- Quit Smoking: After 12 months, reapply or request reclassification.
- Improve Overall Health: Losing weight, exercising, and managing conditions like blood pressure can reduce risk.
- Apply Younger: The earlier you buy, the lower your premiums.
- Use a Broker: A broker can help find policies that specifically cater to smokers.
Is Guaranteed Issue Life Insurance a Good Option for Smokers?
If you’ve been denied traditional coverage due to smoking-related illnesses, guaranteed issue life insurance might be a solution. It requires:
- No health questions
- No medical exams
However:
- Premiums are high
- Coverage amounts are low (usually $10,000–$50,000)
- Often includes a 2-year waiting period
Use this only if other options are not available.
Conclusion: Yes, Smokers Can Still Get Cheap Life Insurance
While smokers face higher life insurance premiums, you can still find affordable and reliable coverage. By comparing quotes, choosing the right policy type, and maintaining good health, you can protect your loved ones without breaking the bank.
Whether you’re a pack-a-day smoker or a casual cigar enthusiast, don’t delay securing your financial future. Start today by exploring your options and locking in the best rate possible.
FAQs About Cheap Life Insurance for Smokers
1. Can smokers get affordable life insurance?
Answer: Yes, many insurers offer competitive life insurance rates for smokers, especially with term policies. Comparing quotes and applying early are key to securing lower premiums.
2. Do e-cigarettes and vaping count as smoking for life insurance?
Answer: In most cases, yes. Many insurers treat vaping and e-cigarette use the same as smoking traditional tobacco products, placing applicants in smoker rate categories.
3. Will quitting smoking lower my life insurance premium?
Answer: Absolutely. If you quit smoking and remain tobacco-free for at least 12–24 months, you may qualify for non-smoker rates, potentially reducing your premium by up to 50%.