Affordable Term Life Insurance

for Smokers

Affordable term life insurance for smokers is expensive – there’s no way around it. Smokers will pay double the cost for affordable term life insurance than their non-smoking friend.  I have heard people say this time and time again: “It is impossible to get affordable term life insurance for smokers.” There is no question that a person smoking is going to be a higher risk than someone who doesn’t. The key is how can you find the most affordable term life insurance for smokers. You can start with working with a broker like the author of this page.

“You can get term life insurance for smokers at an affordable rate.”

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Buying affordable term life insurance for smokers is one of the most important purchases you can make for yourself and your loved ones. Buying life insurance with companies like Banner Life, Lincoln Financial, Transamerica, etc gives you peace of mind – you know that if anything were to happen to you, your family would have the funds they would need to cover all related expenses. Life insurance removes the extra financial stress that comes with losing a family member.

Note: If you have considered getting a quote from State Farm, you may want to explore all of your options before deciding to go with them.

You’ve probably heard stories about people or even know someone who was left with thousands of dollars in debt from house payments and student loans. When dealing with the loss of a loved one, the last thing you want to worry about is how you’re going to make ends meet. Having a life insurance and term life insurance for smokers policy can make sure that this never happens. You can rest easy.

Buying Life Insurance Doesn’t Have to be Scary


When it comes to buying life insurance, many people are scared to start the process. They get confused with different terms that they don’t understand. Honestly, the thought of their death is what keeps many people from starting the life insurance process. We know it can be tough, but finding the perfect life insurance plan doesn’t have to be a confusing and frustrating process. Goldsmith can connect you with a knowledgeable agent who will show you the best policy based on your preferences.

The price of term life insurance for smokers is generally double that of non-smokers. Some say that the simple answer is to quit, but we all know that quitting smoking is not simple at all! Quitting is actually extremely difficult. Here is a much easier way to ensure you get the most affordable life insurance solution: Use an independent life insurance broker like Goldsmith Insurance.


How to Find Affordable Life Insurance for Smokers

Compare Many Different Companies – When it comes to affordable term life insurance quotes for smokers, some companies are more aggressive than others. This leads to very different prices. An independent life insurance broker has the ability to quote over 50 different companies, so you can get a better idea of what is out there. That way, you know you are always getting the best possible deal. Every customer’s risk is going to be different depending on age, coverage amount, term length, etc. As a result, each customer is going to get rated differently by each company.

Important Facts & Misconceptions About Affordable Term Life Insurance for Smokers:

  • “Transamerica is the best company for smokers” – MISCONCEPTION

I hear this from many potential customers who are smokers, but the truth is there isn’t one best company. When buying a policy, it comes down to that specific client’s needs, so different companies will offer everybody different rates depending on their aggressiveness. As a person’s risk changes, so do the companies offering policies. The prices below illustrate that different companies are best for different people. An independent broker always has your best interest at heart, so allow him to find the most affordable policy for you!

  • Smokers CANNOT get Preferred Plus Rates – FACT

It doesn’t matter how healthy and fit you are. If you smoke, you can’t get preferred plus rates. The most affordable life insurance rates a smoker can qualify for is a preferred smoker risk class. If you have been looking for motivation to quit smoking, think about the extra $500,000 you can leave your loved ones.

  • Smokeless Tobacco Doesn’t Mean You Have to Pay Smoker Rates – FACT

Just because you chew, dip, or use nicotine patches, you don’t have to pay smoker rates. There are a few companies who can offer non-smoker life insurance rates, and an independent broker can find these companies for you.

  • Life Insurance for Cigar Smokers – FACT

Just like with smokeless tobacco, there are a few companies out there who will offer non-smoker rates to cigar smokers. Once again, it comes down to utilizing an independent broker and having them do the work for you to find you the best rates out there.

Pricing Examples

To help illustrate the importance of using an independent broker and show you there isn’t one best company for smokers, I ran six different quotes. I compared quotes for a 35, 45, and 55 years old preferred best non-smoker and preferred smoker for a $500,000 20 year term: 


35 yr. old

45 yr. old

55 yr. old

Preferred Best Non-Smoker







Preferred Smoker



Transamerica @


MetLife @


The above table shows you that there isn’t one best company for a smoker looking for life insurance. Transamerica is only the best for a 45-year-old smoker, but AIG and MetLife are better companies for a 35 and 55-year-old smoker respectively. If you are looking to skip the medical exam, then you might have to incur a premium.

“There isn’t one best company for a affordable term life insurance for smokers.”

These are simply a quick quote and it will come down to a person’s specific risk. There is no way that you can get an accurate quote by yourself. An independent broker specializes in finding the customer the best rates on the market, so get ahold of one today.

Another important thing to note from the table is the rates of a non-smoker compared to that of a smoker. In all three instances, the best possible smoker rates are around quadruple that of the best non-smoker rates. There is no way around it, if you smoke, you’re going to pay for it.

Client Testimonial

“Our family would like to thank Goldsmith Insurance for answering all of our questions and helping us each find a suitable life insurance policy. We really appreciate that you were able to take care of everything in a very timely manner. We will certainly recommend you to our friends and family.” – Doris, Milena, and Dora



How much life insurance do I need?

Another important factor in deciding how much you pay for life insurance is going to be the size of the policy you purchase. Obviously, the larger the policy, the more you’re going to pay every month for it.

So how do you decide how much you should get? Your recommended policy size depends on how many people depend on your income. If you are married, and your wife also works, then she isn’t really dependent on your salary, she would be able to survive without the added income. But if you have a spouse and two kids, then more people depend on your salary.

Many financial experts can’t agree on an EXACT number, but the majority suggests getting ten times your annual salary. For example, if you make $50,000 every year, you should purchase a $500,000 life insurance policy and read term life insurance for smokers. It may sound extreme, but this will give your loved ones enough money to pay off all debts, pay for funeral expenses and other final expenses, as well as give them enough time to recover the lost salary. Have you asked your parents if they have burial insurance? If not, we can help guide you in efforts to purchase life insurance for your parents.

The best way to calculate how much money you should take out on a term life insurance for smokers policy is to look at all your bills and other expenses that you could have in the future. Do you have kids that plan to go to college? Do you still have a mortgage or a couple of car payments? Look at all the debt you have currently or the debt you’re going to have in the future. After you’ve calculated all these numbers, you can see how big of a policy you’ll need.

Getting the Lowest Rates on Affordable Life Insurance for Smokers


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Okay, so you’re a smoker. Your rates are going to be higher, but you can still get better rates than other smokers. If you don’t want to quit smoking, there are a few other things you can do to make your monthly premiums a little cheaper than they would be otherwise.

The first is to switch to smokeless tobacco. As we mentioned earlier, if you chew, dip, or use nicotine patches, you will be able to get non-smoker rates. If you switch, you can get the lower rates of term life insurance for smokers and still have nicotine, best of both worlds, right? Many smokers say the transition from cigarettes to smokeless tobacco is easier than trying to quit.

If you’re going to smoke, spend extra time taking care of your health. Smoking can have adverse effects on your body, which is why you have to pay more for life insurance and term life insurance for smokers. As we mentioned earlier in the article, you WON’T be able to get preferred rates, but that doesn’t mean you should settle for the worst rates they offer. Make sure you work to get your body in prime physical health. We don’t mean that you have to run a marathon or spend hours in the gym, but you should make sure that you’re at a healthy body weight, exercising regularly, and eating healthy foods. If you have a health condition such as diabetes and want to know if you can qualify for affordable life insurance for diabetics, we can answer questions and help you find the coverage you deserve.

The American Heart Association recommends that everyone get at least 150 minutes of moderate exercise every week (or 75 minutes of vigorous exercise). Aside from working out, your journey to a healthier lifestyle goes through your kitchen. Eating healthier foods and skipping the greasy fast food will make a significant difference on your waistline (and your insurance rates).

Shop Around to Get the Best Rates

As we mentioned earlier, you want the lowest rates possible, you should shop around with different insurance companies before you pick one. Normally, the first insurance company you call isn’t going to have the lowest rates. Because each company uses different methods for pricing premiums, you can receive very different quotes from each company. You should get at least three different quotes before you decide which one works before for you. Instead of having to call all of these insurance companies and answering the same questions over and over, let us do the hard work for you. With a few simple questions, you can be connected to one of our agents, and they can find the best rates available to you from a majority of insurance companies.

Because of the dramatic price differences, it should be a priority to save every dollar that you can, and GIA will be sure to find the company that best meets your needs and price range. Don’t let the thought of expensive life insurance policies keep you from buying the financial protection you and your family need.

If you smoke and are looking for affordable term life insurance, the decision should be obvious; use an independent life insurance broker. Goldsmith Insurance Agency is more than happy to speak with you and review all your options and help save you money.  Buying a life insurance policy shouldn’t be a long process that causes more stress than you already have.


Affordable Term Life Insurance for Smokers | Goldsmith Insurance