Finding cheap term life insurance for smokers is certainly possible if one is willing to put in a little time and effort. While it is common knowledge that smokers will pay higher life insurance premiums than non-smokers, it is not commonly known that smokers can find their own cheap life insurance rates if they search. Read on for some ways to find affordable term life insurance rates for smokers.

Life insurance in the United States is not common. This may be because this type of insurance, unlike the others, is associated with the age and needs of a person when they are about to die. Unfortunately for the average American, the public doesn’t buy life insurance so much when it’s actually a pretty big deal. Life insurance protects an individual or family from the death of a significant other, spouse, parent, or head of household. It is because of the word “death” that many young people do not have this important insurance in their lives. Most Americans don’t think they’re going to die young and so they shy away from life insurance, maybe because they’re scared. The fact is that a young person should think twice and buy life insurance to protect the people who depend on him.

There are simply steps you can take when trying to purchase a smokers life insurance policy. Before telling you the steps, it is important to highlight that there are two main types of life insurance: term and permanent. Term life insurance is simply a contract made between a company and an individual in which the company allows the person to pay premiums over a certain period of time (usually ten or twenty years). If the policyholder dies within those years, the insurance company will have to pay the amount of money the policy is worth. On the other hand, permanent life insurance is a LIFETIME contract arrangement, where you pay significant premiums that turn into savings and upon the death of the insured, the beneficiary will take the dollars saved and use them at their own expense. .

Term life insurance is what most people get today because it allows them to pay lower premiums, while still being covered for the “risk” of death. Although finding cheap term life insurance isn’t all that difficult, there are five steps you need to take to get the policy you’ve always wanted.

1. Compare prices: This step is perhaps the most important if you want to get an affordable term life insurance policy. There are many places and ways to compare prices to get a better rate. If you decide to compare prices online, you can try going to a search engine like Google or Yahoo and typing in cheap term life insurance. You will see instant results and many pages will appear letting you know they have cheap quotes. You can also visit major websites like MetLife and other big name companies. To get a quote from these websites, you will need to fill out a questionnaire and then you can receive the price. If you decide to visit the main company websites, be sure to visit at least three and look for the best price quote. You can also choose to go to an online comparison website that will allow you to see many quotes from different companies.

2. Shop when you’re young: Since term life insurance is a contract of ten or twenty years, the most important thing to get premiums at a good price is to do it when you are young. The average age of people who buy this life insurance is 30 years old, but if you want even lower prices, you can start paying your premiums whenever you want. The younger you are, the lower the risk of dying and for this reason the insurance company will give you cheaper rates.

3. Good health: This goes along the lines of buying the insurance policy when you are young. At a younger age, you have a lower risk of illness or disease that will increase your premiums. This means that you will run a lower risk of insuring someone older who has complicated health. However, if you’re of legal age and in perfect health, you should also be able to get pretty good rates, just not as good as youth. Just because you smoke doesn’t mean you can’t do other things to stay as healthy as possible.

4. Check for price breaks: This can work in your favor dramatically. A cheap life insurance policy can also be defined as one that offers the most coverage for the least amount of money. Most people would choose a $225,000 policy over a $250,000 policy because the former offers lower coverage and is cheaper. However, if the difference between the two is minimal, you should choose the second one because it offers better coverage for a lower price!

5. Buy enough to cover what you need: To do this quick tip, just make sure you have enough insurance to cover your family or dependents in the event of your death. Make sure your family can have stability and not a burden after the main contributor to the household income is gone. A quick rule of thumb is to buy six to ten times your annual gross income. This will generally allow your family or beneficiary to receive enough money in the event of your death.

As you can see, finding a cheap term life insurance policy for smokers shouldn’t be a burden to anyone. The younger you buy your policy, the better off you are in the long run and the cheaper your policy will be! Shop around as much as possible, try to find discount prices, and buy enough insurance to protect your dependents in the event of an unexpected accident.

The word “death” can send the shivers down anyone’s spine, just remember that you have options to be covered and help your family in case something horrible happens. So get out there and start looking for a good smokers term life insurance quote because if you follow the tips above, the price at the end of the quote will be less than you ever imagined!