There is a lot of money to be saved by simply selecting the right term life insurance company has never rang so true if you are a smoker. As a frequent user of tobacco you will more than likely already be aware of how hard it can be to gain an affordable insurance policy. However search correctly and you will discover there are a number of companies out there who will offer you some of the most competitive rates available.

As a lot of smokers don’t realize or know that there are deals for them out there they are often put off taking out a life insurance policy or they end up paying too much for they policy that they do have. To stop this happening and to make sure you can take out a term life insurance policy that provides you with the coverage you need at a price you can afford, you need to look into what policies are available to you.

The reason that I mention term life insurance as oppose to say whole is because a term policy is the cheapest life insurance coverage you will be able to get. It means you simply pay for your coverage for as long as you need it. This could be anything between say ten and forty years. It could be to cover a specific time in your life, say from the birth of your child until they get into university education. A term policy is your best bet if you are a smoker as the rates will be a lot lower than any other form of coverage.

Insurance companies charge higher rates in order to compensate them for the additional risk of giving you a policy. This is because as a smoker your life span is considered to be shorter. However in recent times there have been many pro smoking pressure groups who present the argument that smokers who are under the age of 40 have around the same possibility of dying prematurely as non-smokers. This fact, along with the realization that smokers make excellent potential customers due to the slightly higher premiums they pay, has meant that a number of insurance agents now welcome tobacco users and even offer them policies with discounted rates.

Times are changing and it is becoming a lot easier for tobacco users to get the coverage that they need. Providers will now assess each individual case and some agent’s will charge moderate users a lot less than heavy users instead of charging all smokers the same rate.

The company that you take out your policy with is important as different companies will class you as different types of smoker. For example if you have smoked a cigarette in the last year then you will be classed as a smoker. Other life insurance companies will class you as a smoker if you have smoked in the last ten years and this counts even if you only had one cigarette in the last ten years. The good news is though that most life insurance companies are now offering term life insurance for smokers at very affordable rates, meaning you will no longer have to fight your way through expensive policies as there will be coverage readily available to you at a price you can afford.