If you are a non-smoker, you’ve got a great surprise waiting for you – your life insurance premiums!
Because smoking causes a severe decrease in life expectancy, life insurance for non smokers can can cost half as much or more than half of the cost of a smoker policy.
Actuaries at insurance companies are very price sensitive about this.
In addition, in recent years the insurance market and medical underwriting in particular has tightened up substantially.
Insurers are looking for alternatives to ease this situation and one thing they can do is target consumers who are likely to be better mortality risks (again, nonsmokers fit that category).
As a result, while rates for smokers appear to have risen in the past decade, it seems that rates for nonsmokers have either remained level or even declined as insurers work in this competitive marketplace.
What’s even more interesting is that insurers are now targeting this niche not only through more refined medical underwriting, but also through lower premiums.
They know nonsmokers are shopping for life insurance quotes and they’ve priced their products accordingly.
The best way to take advantage of this opportunity is to find the absolute best rate available to you from a quality insurance company.
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