Reader’s Question:

I asked my dad one time why he never bothered to get a life insurance. He told me that it was because he was a smoker. To be honest, I was surprised. Is there discrimination against smokers in the insurance industry? Is there any in Edmond, Oklahoma? Don’t you want to insure everybody? Please tell me that the insurance industry is more broad minded than that.

Mark

Edmond, OK

Hi, Mark! No, there is no discrimination against smokers. Your father probably never heard of a smoker life insurance or life insurance for smokers, which will be offered by many insurers in Oklahoma. This will be tailor-fitted for smokers like your dad. In fact, many insurance companies chose to specialize in smoker life insurance. In some cases also, companies have modified their definition of a “smoker”.

Most insurance companies will have three classifications for smokers: standard, preferred and preferred plus. Depending on how much you smoke, you will be ranked accordingly and subsequently charged. Of course, those with the lowest intake of nicotine will get a cheaper premium. You are also rewarded when you decrease your nicotine intake or stop altogether, with discounts or reduced premium rates. But there will be a specified duration, kind of like a trial period, wherein you have to sustain your reduced habits before you are re-classified. Insurance companies in Oklahoma will vary in terms of defining a smoker and also in the specification of the trial period.

The life insurance industry has certainly become tougher and more competitive over the years. They simply can not ignore a significant market such as smokers. Therefore they have devised a way in considering these risks. You can see this for yourself by entering your zip code to get multiple free quotes. And hey, it’s not yet too late for your dad to get a life insurance!