Smoker Term Life Insurance

Finally smokers are getting a break when the time comes for them to buy some term life insurance. Or indeed, any type of life insurance such as whole or universal life insurance. A leading insurance company, Equitable Life of Canada, has introduced an incentive program for smokers to quit smoking. The incentive program works in 2 ways: firstly you start your non-smoking life and secondly, you get a financial credit for the extra term life insurance premium you paid as a smokerHow Does This Smoker Term Life Insurance Plan Work?As a smoker you need to buy some term life insurance, but smoker term life insurance to protect your family is not cheap; lets assume the premium is around $100 monthly. You buy this smoker life insurance but a few months down the road you decide to quit. You stay off the cigarettes for 12 months and then do a blood/ urine test acceptable to the company, which proves that you really have stopped. At that point, Equitable Life will credit you the difference between what you paid as a smoker and what you would have paid as a non-smoker.So Does This Make The Smoker Term Life Insurance Worthwhile? Let's assume your new policy is $60 a month, which saves you $40 a month going forward. But with this plan Equitable Life will also credit you $40 a month or $480 against the premiums you have already paid. That means you get the equivalent 8 months of premium credited to you for your new non-smoker term life insurance plan!Will This Smoker Term Life Insurance Plan Work For Everyone? Not if you don’t give up smoking it won’t. But now those who want to quit have 2 good reasons, saving their health and saving their money!Can I Smoke At All With This Smoker Term Life Insurance Plan?Yes, you can. With the most liberal description of smoking in the marketplace, you are able to smoke 1 cigar a week and still qualify for the non-smoking rates.If you need life insurance and you smoke, find out what more is involved with this smoker term life insurance.