Reader question:

I need life insurance and I smoke. Should I get a no exam life insurance policy for smoker?

Craig

Thanks for asking, Craig.

You can purchase a no exam life insurance policy for smoker, but the cost might be more than you can handle. No exam policies cost several times more than regular policies and that is coupled with having less coverage and less adaptability as well. While you may expect similarly high rates from a life insurance company that requires exams, you might be surprised.

Instead of going straight to a no exam life insurance policy for smoker, try getting an exam done first. Get tested for everything under the sun and then allow the life insurance company to give you your quote for how much you will pay. It could be that what they quote you is too much, but often times companies are much more forgiving than they are made out to be. No exam policies exist specifically for people who can’t get a policy with an exam, and so if you’re able to get one with an exam it normally goes without saying that a no exam policy will cost much more.

take care,

Fashun