The best life insurance for smokers in 2021
Why we chose it: With well-designed policies and the potential for non-tobacco life insurance rates, AIG is our top choice for cigar smokers.
The American International Group (AIG) offers its life insurance policies through the American General Life Insurance Company. It is a leading global insurer operating in 80 countries and across the United States. AIG offers a portfolio of life insurance products, including permanent and term life insurance policies.
People who smoke cigars may worry that their life insurance policy will cost more because of their smoking habit. However, smoking cigars and smoking cigarettes are not necessarily considered equal. AIG may be able to offer you a competitive life insurance rate for your personal situation, depending on how often you smoke cigars.
Using the online quote system and answering a few questions about family medical history and general health, we learned that an example of a monthly cost for a cigar smoker under 12 per year, in her 40s in good general health, would be around $ 110 per month. for a 20 year policy with a death benefit of $ 500,000. The same policy for a man costs around $ 150 per month. (Note that rates may vary depending on location).
You may need a medical exam for an AIG life insurance policy, which may include a physical exam, questions about your medical history, measurements of your height, weight, blood pressure, and your pulse, as well as urine and blood tests.
AIG states that smoking can negatively affect your premium rate; however, it will not be determined solely on your tobacco use, but rather on an overall picture of your health. They also state that using marijuana probably won’t stop you from purchasing life insurance, but the amount you consume will determine how much you pay.
The company does not indicate what it considers frequent tobacco use. However, they do mention that they will work with you to find a competitively priced life insurance policy and may be able to find a non-smoking rate depending on the nature of your tobacco use.
People between the ages of 18 and 80 can purchase AIG 10, 15, 20 or 35 year term life insurance for coverage of $ 50,000 or more. You can renew up to 95 years.
AIG has an AM Best rating of A (Excellent).