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Life Insurance for smokers


 How do you get the best life insurance rate for smokers? Let us show you how.

 The first thing to appreciate is that ‘smoking’ is defined not by consumers but by life insurance companies. And, these definitions often differ. If you smoke say a cigarette a week, most consumers would say that they’re not smokers. Life insurance companies however will define this as a smoker. While there are valid approaches to mitigate this, appreciate that the definition is not whether you consider yourself a smoker or not. It’s whether the insurance company does, based on their definitions.

Cigarette smokers, even once in the past year, will be defined as a smoker by all life insurance companies in Canada. 

Pipe and cigar smokers are also mostly defined as smokers. However if it’s rare or very occassional pipe or cigar, there are a few companies that may qualify you at smoker premiums. This requires a discussion to determine your exact smoking habits first, then matching you with the best company when that’s available.

Cigarillos, like cigarettes, even once will qualify at smoking premiums with almost all life insurance companies. Rarely there may be opportunity with one company to get non-smoker premiums but again this requires a conversation to determine eligibility.

There are two ways to mitigate this. First, Foresters Financial (a life insurance company) has permanent life insurance available that charges non-smokers premiums to smokers for the first two years. After that point, premiums increase to smoking premiums.

What about vaping?

Vaping qualifies as smoking, including if there’s no nicotine in the vape (though marijuana vaping is seperate, see our article on life insurance for marijuana users). Life insurance companies perceive the chemicals in vapes to have a very negative impact even without the presence of nicotine or tobacco.

If you’re a smoker who’s looking to get the least expensive life insurance premiums, please contact our office and we’ll evaluate and get you the best deal available in Canada.