I have more good news for the cigar smokers needing life insurance who enjoys the occasional cigar, and is looking for preferred, non tobacco rates on a life insurance policy. In a previous article, I discussed how some carriers allow one “celebratory” cigar per month, and will still give you non tobacco ratings. A couple, American General and Prudential will allow even more than that. Some have a zero tolerance rule for any form of tobacco. You may want to read up on Affordable Life Insurance for Cigar Smokers.
Well, here’s more good news. Today I found out that Lincoln National, a company with great 30 year term life insurance rates, allows 24 cigars per year, and you can still qualify for their Preferred Non Tobacco rating. Of course, your urine analysis (HOS) must test negative for nicotine to get this rate. This is great news for cigar users, because some people don’t want to buy life insurance from American General right now, even though they allow a cigar per week! Lincoln National is a great alternative for them.
I also found out that Cincinnati Life Insurance Company has become more lenient about allowing the occasional cigar, and will now allow “not more than 10-12 cigars per year.” In addition, you can test positive for nicotine. All of the carriers want the HOS, or home office specimen, to be negative, except Prudential and Cincinnati Life.
Met Life still allows just 4 celebratory cigars per year. That’s too bad. They also have great 30 year term prices. I would send them a lot more business if they would give preferred life insurance rates for 12 cigars per year.
*Update: As of 2/26/10, I now have a life insurance carrier who will allow up to one cigar per week and give their best non tobacco rating.
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