For most families across the United States, facing the death of a loved one and facing thousands in funeral costs at the same time can be quite the harrowing experience. You’re going through a time of grief, which is stressful on its own, and now you’re needing to figure out how you’re going to manage these funeral costs to provide your loved one with the send-off they deserve. The average cost of a funeral in America is between $7,500 and $10,000, a figure that few families can cover without at least some struggle.
For smokers today, many carry the belief that final expense insurance isn’t something available to them, so they feel lost thinking that their loved ones left behind will need to foot their burial costs and there is nothing they can do. However, this isn’t the truth, and final expense insurance is something available to smokers to provide peace of mind today.
Getting Final Expense Insurance As A Smoker
The process one would undergo for getting final expense insurance as a smoker is the same a non-smoker would. Final expense insurance doesn’t require invasive medical examinations and only a questionnaire that goes over basic health points. However, there are some differences a smoker will encounter compared to non-smoker:
Higher rates – Smokers will experience higher final expense insurance rates when compared to a non-smoker. Typically, a final expense insurance policy covering $10,000 will cost around $60 per month in premiums, but this is the rate for a non-smoker. For a smoker, a similar policy will likely cost around 30 to 50% more, but you will be able to find the level of coverage you’re looking for.
Your usage matters – Tobacco use or smoking will be looked at differently by different policies. For those who use chewing tobacco or electronic cigarettes, you may not be charged a premium as high as that of a smoker, but it will likely be more than that of a non-smoker. When looking into your policy and answering your questionnaire, it’s important to be clear about your tobacco usage and what type of products you use.
Research is more important – Doing your research is always important when looking into final expense insurance policies, but it’s even more so for smokers. Different insurance companies will offer different rates, and if you use smokeless tobacco or electronic cigarette, one policy may be a better fit over another. Doing your homework will get you the perfect policy every time.
Insure Yourself And Protect Your Family
In order to be considered for non-smoker rates, many insurance providers will require you to be smoke-free for at least 12 months prior to a rate change. Whether you choose to quit or not, final expense insurance is available to you to give you peace of mind and protect your family in the event of your death. If you’d like to learn more about final expense insurance for smokers, or how you can apply for coverage, contact us for assistance today.