Best Life Insurance for Smokers in 2024 (Your Guide to the Top 10 Companies)

The top picks for the best life insurance for smokers are Prudential, Banner Life, and AIG. These companies stand out for their accommodating policies towards smokers.

Smokers face higher premiums due to the increased risks associated with tobacco use, but these providers offer competitive options that can help mitigate costs. Learn more in our complete “Best Life Insurance Companies.”

Our Top 10 Company Picks: Best Life Insurance for Smokers

Understanding these options can empower smokers to make informed decisions about their life insurance, securing their family’s financial future while accommodating their lifestyle.

If you’re looking to protect your family’s future at a low cost, enter your ZIP code above to buy affordable whole life insurance prices with our free quote comparison tool.

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#1 – Prudential:  Top Overall Pick

Pros

• Competitive Multi-Policy Discount: Prudential offers a 15% discount for bundling multiple policies.
• Strong Financial Rating: Prudential holds an A+ rating from A.M. Best, indicating financial stability.
• Broad Range of Coverage: Offers various insurance products suitable for different needs. Find out more in our guide titled “Prudential Life Insurance Company Review.”

Cons

• Higher Premiums for Riskier Profiles: Rates can escalate for individuals with high-risk lifestyles.
• Complex Policy Options: Some customers may find their range of options overwhelming.

#2 – Banner Life: Best for Competitive Rates

Pros

• Sizable Multi-Policy Discount: Offers a 10% discount for multiple policies.
• Top-Notch Financial Stability: Maintains an A+ rating with A.M. Best. See more details in our guide titled “Banner Life Insurance Company Review.”
• Flexible Term Life Options: Known for flexible term life policies that cater to a range of needs.

Cons

• Less Brand Recognition: This may not be as widely recognized as other insurers.
• Limited Additional Benefits: Fewer perks compared to larger insurers.

#3 – AIG: Best for Flexible Underwriting

Pros

• Flexible Underwriting: Accommodates a wider range of customer profiles, including those with higher risks.
• Decent Multi-Policy Discount: 12% discount for bundling policies. More information is available about this provider in our “AIG Life Insurance Review.”
• Diverse Financial Products: Offers a wide array of financial and insurance products.

Cons

• Lower Financial Rating: Holds an A rating from A.M. Best, slightly lower than competitors.
• Complex Claims Process: Some customers report a complex claims process.

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#4 – Transamerica: Best for High-Risk Individuals

Pros

• Specializes in High-Risk Individuals: Offers coverage for individuals often declined elsewhere.
• Moderate Multi-Policy Discount: Provides an 8% discount on bundling policies.
• Extensive Experience: Long-standing reputation in the insurance industry. Read up on the “Transamerica Life Insurance Review” for more information.

Cons

• Inconsistent Customer Service: Reports of varying service quality.
• Higher Policy Costs: Premiums can be higher, particularly for high-risk profiles.

#5 – Protective Life: Best for Affordable Premiums

Pros

• High Multi-Policy Discount: Offers a 14% discount for multiple policies. Check out insurance savings in our guide titled “Protective Life Insurance Review.”
• Competitive Premiums: Known for more affordable premium rates across many policies.
• Strong Financial Health: Holds an A+ rating from A.M. Best, ensuring reliability.

Cons

• Limited Coverage Options: Fewer unique coverage options compared to larger insurers.
• Delayed Claim Processing: Some reports of slow claims processing.

#6 – Lincoln Financial: Best for Comprehensive Policy

Pros

• Comprehensive Policy Options: Offers a wide range of insurance products covering extensive needs.
• Decent Discount on Multiple Policies: 10% discount for bundling various policies. Discover more about offerings in our complete “How to Save Money When Buying Life Insurance.”
• Strong Industry Reputation: Well-established with a solid financial base.

Cons

• Higher-End Premiums: Premiums can be on the higher end for certain policies.
• Complex Product Offerings: Some customers find their offerings to be complex and detailed.

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#7 – Mutual of Omaha: Best for Competitive Pricing

Pros

• Generous Multi-Policy Discounts: 15% discount for bundling policies.
• Broad Range of Products: Offers a diverse range of products tailored to different demographic needs.
• High Financial Stability: Carries an A+ rating from A.M. Best. Access comprehensive insights into our guide titled “Mutual of Omaha Life Insurance Review.”

Cons

• Variable Customer Service: Customer service quality can vary.
• Premium Variability: Premiums can vary widely between policies.

#8 – John Hancock: Best for Premium Discounts

Pros

• Attractive Premium Discounts: Offers 11% discount on bundled policies. Delve into our evaluation of “John Hancock Life Insurance Company Review.”
• Focus on Healthy Living Discounts: Provides incentives and discounts for healthy habits.
• Solid Financial Rating: A+ rating from A.M. Best reinforces financial strength.

Cons

• Higher Costs for Smokers: Smokers may find premiums significantly higher.
• Limited High-Risk Options: Fewer options are available for high-risk individuals.

#9 – Pacific Life: Best for Customer Service

Pros

• Strong Customer Service Focus: Known for excellent customer support and service.
• Good Multi-Policy Discount: 13% discount for bundling different policies.
• Robust Financial Standing: Holds an A+ rating from A.M. Best. Unlock details in our guide titled “Pacific Life Insurance Review.”

Cons

• Premium Costs on Higher Side: Premiums can be higher than average.
• Less Flexible Underwriting: This may not be as accommodating for complex health histories.

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#10 – SBLI: Best for Competitive Coverage

Pros

• Competitive Rate Offerings: Known for competitive rates, especially in simpler policy setups.
• Moderate Multi-Policy Discount: Offers a 9% discount on bundled policies. Discover a comparison in our guide titled “AIG vs. SBLI Life Insurance.”
• Solid Financial Stability: Holds an A rating from A.M. Best, indicating robust financial health.

Cons

• Less Coverage Flexibility: Offers fewer options for customization compared to others.
• Slower Application Process: The application process can be lengthy and detailed.

Comparative Insurance Coverage Rates by Company

Understanding the coverage rates offered by various insurance companies can help individuals choose the right policy based on their budget and coverage needs. Below is a detailed look at how different companies price their minimum and full coverage options.

Life Insurance Monthly Rates for Smokers by Coverage Level & Provider

AIG provides minimum coverage starting at $55 and full coverage at $160. Banner Life offers more economical rates, with minimum coverage at $45 and full coverage at $140. John Hancock’s rates are slightly higher, with minimum coverage at $53 and full coverage at $158.

Lincoln Financial and Pacific Life offer competitive rates with minimum coverages at $52 and $51, and full coverages at $155 and $153, respectively. Mutual of Omaha and Prudential provide affordable options, pricing their minimum coverage at $49 and $50 and their full coverage at $148 and $150.

Protective Life also positions itself competitively with a minimum coverage of $47 and full coverage of $143. SBLI and Transamerica offer rates on the lower end, with SBLI’s minimum at $46 and full at $142, and Transamerica’s at $48 and $145.

Learn more: What is the minimum coverage amount for life insurance?

Can I Get Life Insurance Coverage if I Smoke

You can get life insurance for smokers, but it will likely be much more expensive than a standard life insurance policy. However, tobacco use is a proven health risk regarding life expectancy, so life insurance companies take smoking and tobacco consumption seriously.

How do you get life insurance for chewing tobacco use? It’s important to note that some life insurance companies might refuse to cover you if you smoke or have certain medical conditions such as COPD or diabetes. It’s crucial to be honest when disclosing your smoking habits to the insurance company, as lying might result in denial of coverage.

What Do Life Insurance Companies Consider “Smoking”

Tobacco use and smoking go hand-in-hand for most insurance companies. Most life insurance companies group the following in the “smoking” category:

• Cigarettes
• Vaping or E-cigarettes
• Bidis
• Cigars
• Pipes
• Hookahs
• Chewing Tobacco
• Snuff
• Dissolvable Tobacco
• Nicotine Patches, Lozenges, Gum, Inhalers, and Nose Sprays
• Heated Tobacco Products

You can get life insurance with marijuana use (read our “Best Life Insurance for Marijuana Users” for more information). Still, rates may be as high as those for smokers, especially if you’re a habitual user.

Some life insurance companies offer grace to individuals who are occasional cigar smokers. To qualify, you must smoke a cigar less often than once a month. Otherwise, you are considered a smoker. 

Do All Insurance Companies Have the Same Standards for Smokers

Insurance companies handle applications differently. For example, some insurance companies may offer more lenience for certain individuals, while others may be more strict. Read more in our guide titled “Do life insurance companies test for drugs?“

For example, Prudential is often lenient for cigar smokers. If you have a life insurance policy with Prudential, you can smoke cigars less than once a month and get a non-smoker rate. Additionally, if you haven’t smoked for at least 12 months, you qualify as a non-smoker, even if you smoke a pipe, cigars, or chew tobacco. 

Legal & General America, on the other hand, considers you a smoker if you’ve smoked cigarettes, pipes, or used smokeless tobacco, chewing tobacco, e-cigarettes, vape devices, or nicotine substitutes.

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Why Is Life Insurance for Smokers More Expensive

As stated previously, smoking decreases a person’s life expectancy. Because of this, life insurance companies increase a smoker’s life insurance rates because they are statistically less likely to pay for their whole life policy or more likely to die during their term life policy than a non-smoker.

While cigarette use is at an all-time low in the United States, many people still have smoking-related diseases. Life insurance companies will increase your rates to offset the cost of insuring you. See more details about how to get term life insurance quotes.

How Much Are Smokers’ Life Insurance Rates

In many cases, life insurance rates for smokers can be double or even triple what non-smokers pay for the same policy. For example, look at the table below, which shows a 20-year 500k term life policy.

Term Life Insurance Monthly Rates by Age, Gender, & Tobacco Use

Men and women in their 40s who smoke pay the most for life insurance when compared to their non-smoking counterparts. Still, term life insurance for smokers will be the cheapest option when compared to the cost of a permanent life insurance policy. 

Will My Life Insurance Company Know if I Smoke

If you’re thinking about lying about smoking on health insurance applications, think again. You need to be as honest as possible when filling out a life insurance application. Life insurance companies can verify the validity of your statements using various methods.

One way a life insurance company could discover you’ve lied about smoking is via a medical exam. Here’s what to expect if you need a medical exam for life insurance.

When you provide the necessary blood and urine samples, the physician will find cotinine, a nicotine byproduct, in your system. In addition, life insurance companies can utilize the following to discern whether you smoke or use tobacco products:

• Doctor Records: Many life insurance companies request the medical records of anyone they want to insure. Nicotine use will be a part of your medical history if you’re a smoker. 
• Pharmacy Databases: If you’ve ever used a smoke-cessation drug, your insurance company may discover this via your pharmaceutical records.
• Social Media: Life insurance companies find potential clients on social media. If you have videos or pictures of yourself smoking, your insurance company can use this as proof that you lied on your application.
• Your Voice: Some life insurance companies utilize specific techniques to determine whether you smoke by the sound of your voice. 

Being as honest as possible on your life insurance application is important. Otherwise, your application could be denied, and you could end up without a policy. Learn more about what happens if you lie on your term life insurance application.

How Can I Find the Cheapest Life Insurance for Smokers

Finding the cheapest life insurance for cigar and cigarette smokers doesn’t always mean finding affordable rates. Because life insurance can be so much more expensive for smokers, you may be disappointed in the initial rates you receive from different companies. 

Still, there are a few things you can do to get the best life insurance rates possible as a smoker:

• Compare Quotes: Consider quotes and policies from multiple companies before you make a coverage decision.
• Bundle Insurance Policies: Purchase life insurance with a company you already have an insurance policy with. Often you can bundle life insurance with home or auto insurance for more affordable rates.
• Get Re-rated: If you’ve stopped smoking, ask if your life insurance company will re-rate you for a new policy. 

It’s important to try and get the most affordable life insurance rates as a smoker since you’ll be paying them for months and years to come. Find out how life insurance works.

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Case Studies: Best Life Insurance for Smokers

Selecting the right life insurance is essential for smokers, who face higher premiums due to increased health risks. The following case studies, based on real-world scenarios, illustrate how Prudential, Banner Life, and AIG meet the unique needs of smokers effectively.

• Case Study #1 – Flexible Policy With Prudential: John, a casual smoker, was concerned about high premiums. Prudential offered him a life insurance policy that recognized his infrequent smoking habit, resulting in lower premiums than typical smoker rates.
• Case Study #2 – Tailored Terms From Banner Life: Sarah, who had recently quit smoking, needed life insurance. Banner Life provided a policy that offered reduced rates after recognizing her one year of being smoke-free, adjusting her premiums to reflect her lower risk.
• Case Study #3 – Comprehensive Coverage by AIG: Mark, a long-time smoker with health concerns, struggled to find affordable life insurance. AIG offered him a policy with comprehensive coverage that took into account his specific health issues, ensuring he received the protection he needed without exorbitant costs.

These scenarios underscore the importance of choosing life insurance companies that offer flexible and comprehensive options for smokers, ensuring they receive fair treatment and adequate coverage.

Learn more by reading our guide: Life Insurance Rate Factors

The Bottom Line: Life Insurance for Smokers

Smokers can purchase life insurance, but rates may not be as affordable as they are for non-smokers. Often, smokers pay double and even triple what non-smokers pay for a term or whole life insurance policy. In addition, some smokers may need life insurance for high-risk individuals.

When you apply for life insurance, be honest about your smoking. Otherwise, life insurance companies will decline your application. You can get lower rates for life insurance if you compare quotes, bundle life insurance with other insurance policies, and get re-rated if you’ve stopped smoking for at least 12 months.

Discover cheap quotes for life insurance by entering your ZIP code into our free quote comparison tool below.

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