Buying Life Insurance While Taking Chantix.
Well if you taking Chantix, the first thing we should probably do is CONGRATULATE you on taking the first step in quitting smoking.
Good For You!
Not only are you going to save a TON of money on not paying for cigarettes or other tobacco products, there’s a good chance you may also save a ton of on your life insurance policy as well!
But just remember, if you decide to buy a life insurance policy today, it may not be the same policy you have in a year from now, two years from now, or even three years from now.
This is because a life insurance policy is product just like any other, and should be revisited from time to time, just to make sure you’re still getting the best deal possible. Particularly for those who have just quit smoking because as time goes by, it’s quite possible that they may be eligible for a better non-smoking rate class as time goes by.
Chantix (varenicline) is a smoking cessation prescription medication that works by blocking the pleasurable effects of smoking. When used in combination with behavior modification and peer counseling, it can become a very effective tool for even the most “die-hard” smokers.
Smoking vs Non-smoking, as it pertains to life insurance:
When it comes to life insurance, most life insurance companies are going to lump all tobacco users into one group. This is why on most life insurance applications, you won’t see the questions, “are you a smoker?” The question you’ll see is:
- In the past 12 months have you used any tobacco or nicotine products?
This is because most life insurance companies are going to lump cigarettes, e-cigarettes, cigars, pipes, vaporizers, chewing tobacco and NICOTINE GUM all into one group titled “CURRENT TOBACCO USER”.
Now the down side to being lumped into the “CURRENT TOBACCO USER” group is that your life insurance rates in general will be about 3 to 4 times higher than an equivalent “non-tobacco user” group.
To make matters worse…
Even though Chantix does not contain any tobacco or nicotine products, because it “causes a similar reaction” in the brain as nicotine, most life insurance companies are also going to use your prescription for Chantix as another reason to “lump” you into the “CURRENT TOBACCO USER” group!
The good news is…
That there is one highly rated life insurance company that is “bucking” the trend when it comes to how the life insurance industry views tobacco use. This “trailblazer” has decided that as long as you are cigarette free for at least 12 months, they will not consider your Chantix use a reason for giving you a “CURRENT TOBACCO USER” rating.
Which means that this insurance company will rate you as a “Non-tobacco” user and thus be 3 to 4 times more affordable than the vast majority of insurance carriers out there.
Depending on the type of tobacco or nicotine product that you are trying to quit, in some cases you don’t actually don’t need to be tobacco free for 12 months.
For example, cigars, pipes, and e-cigarette users can actually be current users and still qualify for a “non-tobacco” rate, provided that they haven’t actually smoked a CIGARETTE for the past 12 months.
Don’t be this is what we do here ever day at TermLife2Go. Which means that we’re experts on the individual underwriting guideline for dozens of different highly rated life insurance companies so that when it comes time to helping you find the best possible rate on your life insurance, we’ll have dozens of options for you to choose from.
If it turns out that right now you’re “stuck”, and all you really can qualify for is a “tobacco” rate, we won’t “sugar coat” your situation. Instead, we’ll give you the facts, and prepare a game plan for you, so that as soon as your eligible for that lower rate you’re looking for, you’re going to get a phone call from us and be good to go!
So what are you waiting for? Give us a call today and see what we can do for you!
Lastly, for those who would like to get a general idea about how much their life insurance could potentially cost before speaking actually with a “live” agent, we would encourage you to check-out our Term Life Insurance Rates page when you have a moment!
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.