Cigar smoking and Life Insurance premiums.

[ckay]

Two things:

They do not test for nicotine. They test for cotinine.

Also, there are companies that look at cigar smokers more favorably than cigarette smokers. I write policies for many BOTLs and get my underwriters to look more favorably towards us.

A side note...insurance companies are going towards tobacco/non-tobacco classifications.

It is absolutely okay to tell the agent that you enjoy cigars and you should disclose this.

Lastly, if you are young and healthy, DO NOT BUY TERM! TERM NEVER PAYS OUT AS YOU ARE INSURING THE HEALTHIEST PART OF YOUR LIVES!

[Ahbroody]

Originally Posted by Blueface

See in bold.

Like I said we are not going to agree. As much as I want to respond to issues I see in your reply I am going to pass because as I said you love it I hated it.

The one thing I will say is as for your bad faith argument I can post pages of court rulings that have nothing to do with florida and show a really ugly side of the insurance industry as a whole as well as some articles showing insurance companies hiring firms to raise profits. Is really kind of not the focus of this discussion though and would really derail things.


ckay
Hopefully I get a call tomorrow from the rep. I will disclose the occassional cigar dont worry. As I told my wife it is what it is and I dont like the idea of lying to save a buck. Ckay I will PM you about the term issues I was debating this with the wife.

[wayner123]

Originally Posted by ckay

Two things:

They do not test for nicotine. They test for cotinine.

Also, there are companies that look at cigar smokers more favorably than cigarette smokers. I write policies for many BOTLs and get my underwriters to look more favorably towards us.

A side note...insurance companies are going towards tobacco/non-tobacco classifications.

It is absolutely okay to tell the agent that you enjoy cigars and you should disclose this.

Lastly, if you are young and healthy, DO NOT BUY TERM! TERM NEVER PAYS OUT AS YOU ARE INSURING THE HEALTHIEST PART OF YOUR LIVES!

In reference to the bold above, I don't understand what you mean. The addage has always been buy term and invest the rest.

And just to add, some companies won't sign you as a non smoker even if the test comes back negative. If you tell them you smoke cigars and the test is clean, they still might put you on a smoker's rate.

[ckay]

How many people do you know that will invest the difference? And by investing, I do not mean buying HTF cigars!

I am a wealth manager that also puts life insurance into place when there is an apparent need, so I do see both sides of it. I do see the power in tax deferred nature of growth in an insurance wrapper when all deferral vehicles are already taken advantage of. Couple that with loan provisions that allow for tax free withdrawals regardless of age, and you can easily see how a whole life policy can become a very effective tool in one's overall financial strategies.

[ckay]

Originally Posted by wayner123

If you tell them you smoke cigars and the test is clean, they still might put you on a smoker's rate.

You are correct. That is why any "shopper" of insurance needs to either do their homework or works with somebody who will find them the best company to underwrite their habits, and/or health conditions. Prudential is most favorable for cigar smokers, as stated earlier by somebody else. But again, each company underwrites certain conditions differently, so it is important to do your research prior to signing where indicated on an application.

For those of you who live in Ga, I know an agent/financial planner (who's a fellow BOTL)that sells a smokers policy that's rated/treated as non smokers insurance.

I'm probably not explaining this right, but you're not penalized for
being a smoker and you don't lose any benefits. I can send you
his contact info if you like.

Today there are two high quality life insurance companies that will consider cigar smokers as "non-smokers" for the purchase of both term and permanent coverage. In addition, several additional carriers will give "non-smoker" rates to very occasional cigar users.
Lenny Robbins
LifeNet Insurance Solutions

[pnoon]

Originally Posted by lenrobbins

Today there are two high quality life insurance companies that will consider cigar smokers as "non-smokers" for the purchase of both term and permanent coverage. In addition, several additional carriers will give "non-smoker" rates to very occasional cigar users.
Lenny Robbins
LifeNet Insurance Solutions

I'm curious. Was it a Google search that brought you here to advertise?
Or are you a cigar smoker/hobbyist like the rest of us?