Updated: May 22, 2024
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If you smoke, it can be difficult to find low-cost life insurance coverage. Life insurance companies view smokers to be risky to insure because they are prone to lung cancer, heart disease and diabetes, impacting life expectancy.
While life insurance premiums tend to be higher than average for people who smoke, affordable options are available for coverage. Allstate offers the cheapest coverage, with an average monthly rate of $26.57
The average cost of life insurance for a smoker is $40.71 per month — that's 121% more expensive than a healthy individual’s average life insurance premium, which is $18.39 per month.
Several factors determine your rate. In addition to age and gender, the state where you live is also a factor affecting the cost of your life insurance.
Life insurance rates can easily double or triple if you are a smoker. You can reduce the cost of your premiums by shopping around for lower coverage or signing up for insurance as early as possible.
Why Trust MoneyGeek? We analyzed 1,488 of life insurance quotes to determine the cheapest life insurance companies for smokers.
Coverage costs and company information for life insurance providers were updated in 2024.
The monthly cost of life insurance premiums varies significantly based on whether you smoke. For nonsmokers, the average monthly premium is $18.39. In contrast, smokers face a steeper average monthly cost of $40.71. This means that smokers pay an additional $22.32 per month for life insurance, translating to approximately 121% more than the rates for nonsmokers.
| 10-Year Term | Average Monthly Cost$40.71 |
| 20-Year Term | Average Monthly Cost$56.60 |
| 10-Year Term | Average Monthly Cost$18.39 |
| 20-Year Term | Average Monthly Cost$25.56 |
Allstate offers a competitive monthly cost of $26.57 for a 10-year term policy with $250,000 in coverage. This positions Allstate as MoneyGeek's most budget-friendly option for smokers seeking life insurance.
| Allstate | Cost$26.57 |
| Transamerica | Cost$26.81 |
| GEICO | Cost$28.07 |
| Protective | Cost$29.14 |
| Nationwide | Cost$36.33 |
A+ AM Best financial stability rating
Wide range of term lengths (10-40 years)
24/7 online chat support available
Higher-than-average customer complaints
Doesn't issue its own life insurance policies
Allstate has been in the insurance business for 92 years, offering a variety of life insurance products to meet different needs. For those interested in term life insurance, Allstate provides coverage amounts ranging from $100,000 to $50 million, with term lengths varying between 10 and 40 years. While the company doesn't issue its own life insurance policies, it offers multiple payment options and a wealth of online research material to help you make an informed decision. Customer support is robust, featuring 24/7 online chat. However, potential customers should be aware that Allstate has a higher-than-average rate of customer complaints.
GEICO has an average monthly cost of $21.14 for young adults and $389.08 for seniors. These rates make Geico MoneyGeek's most affordable choice for both young adult smokers and seniors seeking coverage.
| GEICO | Cost$21.14 |
| Protective | Cost$21.81 |
| Transamerica | Cost$22.12 |
| Allstate | Cost$22.14 |
| Nationwide | Cost$26.15 |
| GEICO | Cost$389.08 |
| Transamerica | Cost$389.08 |
| Allstate | Cost$389.66 |
| Protective | Cost$452.38 |
| Mutual of Omaha | Cost$473.15 |
A++ AM Best financial stability rating
Low rate of customer complaints
No-exam products available through partners
Doesn't issue its own life insurance policies
Limited payment options
No whole or universal life products
GEICO has been a key player in the insurance industry for 87 years and partners with several companies like Ladder to offer term life insurance. While GEICO doesn't issue its own policies, it does provide a range of term lengths from 10 to 30 years and coverage amounts between $100,000 and $8 million through its partners. The company excels in customer satisfaction, evidenced by a low rate of complaints. GEICO also offers 24/7 online chat support, but falls short in payment flexibility and product diversity, lacking whole and universal life 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 with $1 million coverage amount is $61.91.
| Transamerica | Cost$61.91 |
| GEICO | Cost$62.03 |
| Allstate | Cost$68.26 |
| Protective | Cost$73.35 |
| Nationwide | Cost$77.23 |
A AM Best financial stability rating
Comprehensive product diversity
No-exam option for high coverage
Higher-than-average customer complaints
No 24/7 online chat support
Mobile app limited to retirement
Transamerica has a 95-year history in the insurance industry and offers a wide array of life insurance products, including term, whole, universal and final expense policies. The company stands out for its high coverage options, ranging from $25,000 to $10 million, and term lengths from 10 to 30 years. Transamerica issues its own policies and provides multiple payment options. It also allows for the conversion from term to permanent policies. While the company scores well in financial stability with an A rating from AM Best, it has a higher-than-average rate of customer complaints.
Smokers can get life insurance regardless of where they live. Life insurance rates don't vary significantly by state; however, average buyer characteristics, like age, height and weight, do. Because the cost of living can vary dramatically from state to state, the amount of necessary life insurance coverage also varies. MoneyGeek used the characteristics of the average life insurance buyer in each state to determine the cheapest life insurance companies in each state for various coverage amounts.
| Alabama | CompanyAllstate | Cost$23.54 |
| Alaska | CompanyGEICO | Cost$55.21 |
| Arizona | CompanyGEICO | Cost$43.20 |
| Arkansas | CompanyGEICO | Cost$28.55 |
| California | CompanyPrudential | Cost$65.12 |
The rates from the above companies are already pretty cheap. Still, you can potentially find even lower premiums by shopping around for life insurance options, such as paying a lump sum for coverage or buying as soon as possible.
You can save a significant amount when you choose to pay your premiums annually instead of monthly.
Your age can also affect the cost of your life insurance, so signing up as early as possible helps lower the cost of an expensive premium due to your smoking history.
You can opt to get a term life insurance policy that covers you for a specific period lasting around 10–20 years and only provides the most basic protection. You can customize your premiums and death benefit based on your needs and profile if you opt for universal life insurance.
The best way to lower your rates permanently is to quit smoking altogether. Some life insurance providers allow you to retake the nicotine test after a year and re-negotiate your rates. You can also switch between providers, which could give you a standard rate when you are smoke-free for more than 12 months.
Even if you smoke, getting life insurance shouldn’t break the bank. You can find affordable life insurance if you shop around, buy strategically or make lifestyle changes to lower the cost. For example, paying in a lump sum automatically gives you a discount. Purchasing a policy before you need it and as early as possible is another way to save on your premiums long term.
By shopping around, you are not only protecting yourself against fraud from possible life insurance scammers, but you are also ensuring that you’re buying the best life insurance for your needs and budget.
MoneyGeek answers the most frequently asked questions about getting life insurance for smokers.
The cheapest life insurance company for smokers depends on certain factors, including age, gender, location and coverage amount. MoneyGeek's analysis found that Allstate is the overall cheapest insurer for the average smoker with a 10-year term and $250,000 coverage amount.
There is life insurance available for smokers in all 50 states. You can get affordable life insurance quotes even if you are a smoker. You should expect your premiums to be more expensive than those offered to nonsmokers.
Cigarette smoking is probably the most popular form of smoking. But someone who vapes or smokes e-cigarettes, cigars and pipes could also be considered a smoker, as could someone who chews tobacco or uses other nicotine- and tobacco-replacement products like gum and patches.
You may be wondering how life insurance companies know if you smoke. When you buy a policy, life insurance companies test for nicotine use through a paramedical test. This test detects the presence of nicotine and cotinine and how long it has been in your system. Lying about tobacco use when you buy life insurance is considered fraud. It could be a reason for insurance providers to cancel your policy or deny your benefits claim.
Smoking doesn’t void a life insurance policy. Your life insurance rate is locked in, which means you will be paying the same premiums even if you decide to smoke after you buy life insurance.
Some insurance providers offer to re-evaluate your smoking history and lower your original premiums if you’ve refrained from smoking for more than 12 months.
About Melissa Wylie
Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.
Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.
