Smokers usually have a more difficult time securing life insurance than nonsmokers. Some life insurance companies in Colorado will not cover smokers at all. Other companies will afford life insurance to smokers at a higher premium.
If you are a smoker, seeking a policy, there are some excellent life insurance options out there. However, life insurance plans for smokers vary from company to company. Read on for some more information about what you can expect.
Colorado Health Assessment and Application
When applying for life insurance, you will be asked to complete an application and asked whether you smoke or not. Honesty is the best policy. A life insurance company may follow up with medical screening and detect nicotine in your system. It is best to be upfront about your nicotine use in the application.
Furthermore, only after knowing your complete background can an advisor can guide you about the best possible type of life insurance policy for you. Be as thorough and honest as possible about your health history on your application. Get a Free Quote.
What does a life insurance company in Colorado consider smoking?
When it comes to life insurance, any form of tobacco use will affect your eligibility and rating. If you chew tobacco, use a vape, smoke cigars or pipes, you are considered a tobacco or nicotine user.
However, do keep in mind that there are different plans available for nicotine users, depending on the nature of use.
Cannabis usage and life insurance in Colorado
Many states have legalized medicinal and recreational use of cannabis. However, insurance carriers even in Colorado continue to screen for cannabis use during the application process. Using marijuana doesn’t mean you won’t be able to secure life insurance, but it can put you into a different rating class system along with other smokers.
If you use cannabis to relieve a medical condition, there is a risk the underlying illness will have more of an effect on your rate than will the cannabis use. Still, some carriers will deny an application for life insurance if any drug use is detected – even if it has been legalized in the state of Colorado.
Quitting smoking and securing life insurance in Colorado
Quitting smoking is one of the most effective ways to improve your health and increase your longevity. However, giving up nicotine use is difficult. Many former tobacco users make nearly a dozen quitting attempts before they finally succeed.
If you quit smoking, you may consider reapplying for a life insurance policy as rates may vary with a change in smoking habits.