The document provides tips for smokers looking to purchase life insurance. It notes that smokers will pay higher premiums than non-smokers due to health risks. Smokers are classified as such even if they only smoke occasionally or use alternatives like patches or e-cigarettes. It advises smokers not to lie about their smoking status on applications as it could invalidate any payout. It also discusses smoker incentive programs that may offer preferred rates for lighter smokers or allow reclassification to non-smoker rates after 12 months of not smoking. The document recommends smokers discuss their options with a financial advisor.

1. A smoker is a
smoker, except…
Tips to buy
Life Insurance
as a Smoker
Don’t lie about
smoking
There are Smoker
Incentive Programs

2. When you apply for a life insurance policy, you know
that you’ll be evaluated based on your age, lifestyle,
and medical conditions. Insurers prefer that their
policy holders be healthy, and have a low-risk
lifestyle. Medical conditions are usually evaluated on
a case by case basis because there are several
degrees to a disease, and how you manage your
condition plays a major role in your premiums. How
do insurers evaluate smokers then? Here are some
tips for buying life insurance if you’re a smoker.

3. A smoker is a
smoker, except…
A smoker will pay higher premiums than a non-
smoker because of the health risks of smoking.
It doesn’t matter to the insurer if you smoke one
cigarette a month, or if you use the nicotine
patch, or even e-cigarettes … all these activities
will place you in the ‘smoker’ category for the
purposes of life insurance. The exception is
occasional cigar smoking, which some insurers
consider a non-smoker. What can make a
difference to your premiums is how much you
smoke, and how long you have been a smoker.
A less expensive ‘preferred’ smoker rate may be
available to those who aren’t heavy smokers.

4. When you’re completing a life insurance application, you
will be asked if you’ve smoked within the last 12 months.
It may be tempting to mislead on that question to end
up with cheaper premiums. However, the consequence
of this lie will be disastrous if, in the event of your death,
the insurer discovers that you were a smoker when you
applied. Then your beneficiaries would end up with
nothing. What’s more, you paid premiums for nothing.
Don’t lie about smoking

5. A chance for reclassification
Most smokers want to quit smoking. If you stop smoking for
12 consecutive months and want to lower your premiums,
then you can request a re-evaluation to a non-smoker health
class. You’ll need to re-do the urine test, and sign a non-
smoker declaration form stating you’ve been free from
smoking for 12 months. Your insurer will ask for an updated
medical history, and they will factor in any changes in your
health before reclassifying your policy to the non-smoker rate.

6. Smoker
Incentive
Programs
Though most insurers have similar
guidelines when it comes to smokers, it
still pays to shop around and compare to
get the best deal. Some insurers offer
‘smoker incentive’ programs to reclassify
you when you’re a 12-month non-smoker.
Some allow occasional cigar smokers to
get a non-smoker rate – each company
has their own definition of ‘occasional’.
And some insurers can offer a lower
preferred smoker rate for those that
meet certain preferred criteria.

7. Talk to our experienced financial
advisors about your life insurance
options as a smoker and know
what is the best for you based on
your age, needs, and budget.
You will get the highest value for
your money - that's a guarantee!

8. 18558687878 csteam@trustlife.ca
www.trustlife.ca