• Tobacco use and Underwriting • ⠀⠀ ⠀⠀ • Underwriting is the process by which carriers / insurers / institutions assess an application for coverage under life / health / financial loans etc • ⠀⠀ • When underwriting for life insurance or health Insurance or various products or vehicles where health is a factor - Tobacco use can have a negative impact on the final offer for coverage made by an Underwriter • ⠀⠀ ⠀⠀ • We all have our vices - of course it is common knowledge that using tobacco causes adverse health effects and so equally - it is associated with high risk • ⠀⠀ ⠀⠀ • However, carriers and insurers all Underwrite differently • For instance some carriers that are very conservative May completely decline someone for tobacco use even if they are otherwise in good health • Some carriers will give a preferred/level benefit to someone who uses smokeless or pipe tobacco - they may even give a standard rate to a heavy cigar smoker • With the advent of medicinal uses for Marijuana - Many carriers will not penalize at all for it’s legal use • If you have been a smoker or tobacco user and were rated as such on a policy that is still in force - but you have stopped using tobacco for a period of 12 months or more - you could now be considered a much lower risk rate potentially saving you thousands of dollars over time • if you have a cash accumulating type coverage - you may also be surprised at conversion options available to you • ⠀⠀ • @apexfinancialbrokers We always strive to find our clients the most amount of coverage for the least premium dollar • If you would like a free consultation send us a message or use our booking platform to schedule an meeting • . . . . . . . . . . . . . . #finance #finacialplanning #cashvaluelifeinsurance #insurancebroker #wealthbuilding #incomeprotection #cashflow #financialadvisor #protection #financialplanning #retirment #lifeinsurance #finalexpense #longtermcare #wholelife #tobacco #burialinsurance #healthy #wellness #underwriting #healthinsurance