Cheapest Life Insurance Companies for Smokers (Quotes as low as $22/month)

Finding cheap life insurance for smokers can be difficult but MoneyGeek has made it easy. 

While life insurance premiums tend to be higher than average for people who smoke, affordable coverage options are available. Allstate offers the most affordable life insurance for smokers, with an average monthly rate of $26.57 for $250,000 of coverage over 10 years.

GEICO has an average monthly cost of $21.14 for young adults.  These rates make GEICO MoneyGeek's most affordable choice for both young adults and seniors seeking the best life insurance rates for smokers.  Getting life insurance at a young age as a smoker can result in a much cheaper policy compared to waiting until you are older.

Remember, if you are young and quit smoking in the future, most companies will renegotiate your policy and offer you a cheaper rate after you have quit tobacco for more than 12 months.

As a smoker, waiting until you are a senior means much higher premiums.  GEICO offers the cheapest life insurance for smokers but at a cost of $389 per month for $250,000 of coverage for 10 years.  This can make sense if you really need the coverage, but you may want to explore final expense or guaranteed life policies that are cheaper but have less coverage amount options.

Transamerica is the cheapest life insurance company for smokers looking for a high coverage amount. The average monthly cost of a Transamerica 10-year term life insurance policy with a $1 million coverage amount is $62.

Our research shows most insurers classify you as a smoker if you've used any of these products within the past 12 months:

• Cigarettes - Even occasional use
• Cigars - Though some companies allow 1-2 monthly
• Pipes and hookah
• Chewing tobacco and snuff
• E-cigarettes and vaping devices

Importantly, nicotine replacement therapies (patches, gum, lozenges) are generally NOT classified as tobacco use, as they're viewed as cessation aids.  If you use nicotine pouches, like Zyn, its likely this shows up in your lab tests.  Its likely that you will be considered a smoker.

Companies verify tobacco use through questionnaires and medical tests that detect nicotine/cotinine, typically identifying use from the past week. Most require a 12-month tobacco-free period before qualifying for non-smoker rates.

If you stop smoking you can save about 40-60% on your policy costs.  While the average cost for a $250,000 policy over 10 years is between $26 and $40 per month for a middle aged smoker, you can get a policy as low as $12 per month if you quit smoking. If you recently purchased a policy and quit smoking, you could also cancel your policy and shop other insurers to buy a cheaper non smoker policy.

Our research shows most insurers allow policyholders to request rate reconsideration after 12 to 24 tobacco-free months. The process typically requires a health questionnaire and medical tests to verify nicotine absence. We recommend contacting your insurer once you've reached the 12-month milestone to ask for a cheaper rate.

How Featured Companies on Our Cheapest Life Insurance Ranking Define Quitting

• Allstate: Requires at least one year tobacco-free to qualify for non-smoker rates.
• Transamerica: Offers Preferred rating class after 24 months (2 years) of not smoking.
• Protective: Offers Preferred rates after 24 months (2 years) since your last cigarette.
• Prudential: Uniquely offers non-smoker rates to people who chew tobacco while requiring 12 months cigarette-free for former smokers.
• Mutual of Omaha: Follows standard industry practices requiring at least 12 months tobacco-free before qualifying for non-smoker rates.

No, you should never lie on a life insurance application. This is a bad idea for several important reasons:

1. Misrepresentation is insurance fraud - Lying on an application is illegal and constitutes fraud, which can have serious legal consequences.
2. Policies have contestability periods - Most life insurance policies have a 2-year contestability period during which the company can investigate and deny claims if they find evidence of misrepresentation.
3. Death benefits can be denied - If you die and the insurance company discovers you lied about smoking (which they often can through medical records or autopsy), they can refuse to pay the death benefit to your beneficiaries.
4. Policies can be rescinded - Companies can cancel your policy entirely if they discover misrepresentation, leaving you without coverage when you might no longer qualify for a new policy.
5. Medical exams detect tobacco use - Blood and urine tests can detect nicotine from tobacco use, making it difficult to hide smoking status.

Being honest about your smoking status is always the best approach, even if it means paying higher premiums in the short term.

Yes! At MoneyGeek, we've found smokers can get no-exam term life insurance. Our research shows:

• Most insurers offer coverage from $25,000 to $500,000 with 10-30 year terms
• Expect to pay 20-40% more than comparable policies with exams as there is more risk for the insurance company
• We've identified American General, Mutual of Omaha, and Prudential as competitive options

We recommend comparing multiple insurers, as their definitions of "smoker" vary significantly. Be honest about tobacco use—companies still check medical records.

While convenient, our analysis suggests smokers who are otherwise healthy might save by choosing policies with medical exams.

MoneyGeek answers the most frequently asked questions about getting life insurance for smokers.