Recent statistics indicate that there are approximately 6.9 million smokers in the UK. Although the detrimental effects of smoking on your health are generally acknowledged, did you know that this could also have an impact on your ability to obtain life insurance? That’s correct; in addition to possibly resulting in some quite serious health difficulties, it might also increase the cost of your premiums or, in the case of some insurers, prevent you from obtaining life insurance at all.
But what exactly constitutes smoking in terms of life insurance, and what should a smoker do in order to find protection? Let’s look at this…
Do you classify me as a smoker?
When it comes to life insurance, if you have smoked any cigarettes, used a vape, or used any nicotine products in the previous 12 months, you are regarded as a smoker. That does indeed include “social” smoking as well.
What counts as smoking?
So what counts as smoking? Cigarettes are an obvious candidate. But there are many other forms of “nicotine delivery systems” that can peg you as a “smoker,” “tobacco user” or “nicotine user” when you’re shopping for life insurance:
- Vaping & e-cigarettes
- Bidis (thin hand-rolled cigarettes)
- Cigars
- Pipes
- Hookahs
- Chewing tobacco
- Snuff
- Dissolvable tobacco
- Nicotine replacement therapies (patches, lozenges, gum, inhalers, nose sprays)
- Heated tobacco products
Marijuana users are sometimes also considered smokers, depending on whether the use is occasional or regular.
If I smoke, do I still need life insurance?
There is no getting around the fact that smoking is unhealthy. 506,100 hospital admissions in 2020 alone were linked to smoking, as were 74,600 fatalities, according to estimates. Life insurance might be something to consider if you’re worried about your health and how the worst-case scenario might affect your loved ones.
You could make sure that there is money available to help your family pay for unpaid bills, debts, or other future obligations by putting the appropriate protection in place. Also, you might rest easy knowing that your loved ones would have access to money when they needed it most if you were to suddenly pass away or get very ill.
Does smoking have an impact on my life insurance policy?
It’s unfortunate that smoking will probably have an effect on your life insurance. Most insurers may ask you a few health and lifestyle questions when you apply for life insurance to help them determine how risky it is to insure you. This in turn may have an impact on the price of your monthly premiums.
Smokers are more likely to experience and pass away from major illnesses linked to smoking since, as we all know, smoking can cause a variety of health problems. You might have to pay greater premiums than a non-smoker would due to the increased risk.
A guaranteed policy can be of interest to you if you smoke and are having trouble finding reasonable quotations or are worried that you won’t be accepted due to your health. You can purchase life insurance that don’t ask medical questions through Life Expert. When you apply, no health-related or medical-related questions will be asked of you, and your monthly premiums will be set.
What if I lied on my application about smoking?
Being entirely open and truthful when answering questions is crucial when submitting a life insurance application. Your insurance coverage can be considered void if you lied or omitted crucial facts from your application.
The insurance provider will look into any claim made on your life insurance about a health issue to make sure it is legitimate. They won’t pay out if they discover that you lied or gave inaccurate information on your application. Hence, even if you only smoke in public or vape occasionally, be honest about it.
What happens if I quit smoking since getting my policy?
A policy you purchase from Life Expert is adaptable. This indicates that you are free to apply for any changes to your insurance. Thus, if you’ve given up smoking, you can ask to have the price of your premiums changed. To seek this, however, you must have gone a full year without using any tobacco products or vaping items.
Does the fact that my partner smokes but I don’t influence my policy?
Your premiums will be determined exclusively based on the information you have provided if you are applying for life insurance as a single applicant (i.e., only for you). So, your partner’s smoking would not have an impact on your life insurance. The pertinent health and lifestyle concerns would be addressed by both of you if you applied for a joint coverage, though. Because of your partner’s smoking history, it’s probable that your rates will increase.
How to find the best life insurance for smokers?
Shopping about is essential to locating the best life insurance rates, whether or not you use nicotine. An independent insurance agent can assist you in researching the market and get estimates from insurers that are frequently narcotic-welcoming.
The best life insurance prices can be found by using the following advice for smokers.
- Compare Quotes: Comparing life insurance quotes from various insurers is the most efficient way to discover the lowest rates.
- Bundle Insurance Policies: If you get your life insurance along with other policies from the same provider, such as home and auto insurance, you will often receive a discount.
- Request A New Rating: If you are a smoker with a life insurance policy, request a re-rating if you stop smoking for at least a year. If you have developed any new medical conditions since your last medical exam, this can necessitate a new life insurance medical exam, and you might wind up paying extra.
You might be considering if it makes sense to give up smoking before applying for a life insurance policy. Waiting to purchase life insurance is typically not a wise idea, even though doing so can result in lower rates.
For instance, you can see higher rates if you experience the onset of a new medical problem while trying to stop smoking. Or even worse, you can pass away without a policy in place, leaving your loved ones in a difficult situation.
Compare Life Insurance Quotes For Smokers
Comparing life insurance quotes is the best option for finding life insurance for smokers. Life Expert allows you to get instant quotes & compare them from our panel of insurers. Get your free quote & a friendly member of our team will be in touch to get your life insurance sorted & get you covered.