Life Insurance FAQs - Rate Reduction

My policy was originally issued with smoker rates but I have since quit smoking, will my rates change?

Once the insured has quit smoking for 12 months or longer, they may apply for non-smoker rates by completing the Request for Rate Reduction Form. The form will be reviewed by the Underwriting Department. If approved, Customer Service will notify the owner, in writing, of the new premium rate. If declined, the owner will be notified, in writing, by the Underwriting Department.

I was never a smoker, do I qualify for a rate reduction?

You may qualify for a rate reduction if the policy is an eligible level term policy and you did not receive the premium class quoted due to a specific condition. If the condition has improved consistently for 12 months or longer, the insured may apply for a better rate by completing the Request for Rate Reduction Form. If approved, Customer Service will notify the owner, in writing, of the new premium rate. If declined, the owner will be notified, in writing, by the Underwriting Department.