How smoking influences health insurance and life insurance costs

Everyone is familiar with the health risks of smoking. For some people, however, the financial costs of tobacco can be just as significant. It’s fairly easy to figure out that tobacco isn’t cheap, especially with all of the taxes levied, and it doesn’t require much thought to consider the fact that you may find yourself with some medical costs down the road related to tobacco use. Most people don’t consider how it will impact their premiums for health insurance and life insurance. And, suffice to say, the impact can be pretty significant.
If you have health insurance through your employer, tobacco use may not be an issue, but if you’re in the position of having to pay for your own individual health insurance, the impact could be significant. (I have to pause here to tell our clients in South Carolina that Blue Cross Blue Shield of South Carolina does not penalize tobacco use at all in figuring their individual health insurance premiums. I honestly can’t figure out why! But if you’re a South Carolina smoker, we can get you some quotes.) The story is similar when it comes to buying life insurance. With life insurance, the length of time you’ve used tobacco as well as the frequency will come into play, and different companies will weigh these factors differently. Even very occasional tobacco use (the pipe or cigar a couple times a year) can have an impact.
If you’re a tobacco user, you still need health and life insurance. Contact us and we’ll help guide you through the process to arrive at the policy that will best fit your situation and give you the best shake in the underwriting process.