According to NHS calculations, approximately 100,000 people die in the UK due to smoking related illnesses each year.
Its common knowledge that smoking leads to lung cancer, but this is not the only type of cancer which people get from smoking, possible cancers include mouth, liver and stomach. To add, smoking often leads to other serious conditions such as emphysema, bronchitis and other heart related conditions such as coronary heart disease.
Smoking is a very expensive habit as cigarettes are priced dearly and it increases, often doubles,the life insurance premium for the individual seeking cover. Given that smoking clearly affects one’s life expectancy, the chances of the policy being triggered are high and so are the premiums.
If possible, it is advisable to get assistance and to stop smoking. As a general rule, you can only declare yourself as a non smoker if you haven’t smoked for at least 1 year- this includes nicotine replacement products and e-cigarettes (as they contain nicotine and their health implications are not conclusive).
Whilst most insurers don’t distinguish between regular and infrequent smokers, some insurance companies have started to gauge the different smoking patterns such as life policy seekers who only smoke on the weekend or those who smoke on random intermittent days. As this is not offered by most companies, it can really pay to carry out a detailed search for insurer’s that cater for your lifestyle choices.
Insurance companies can carry out randomised spot checks to find policy holders who claim not to smoke inaccurately. To reiterate, you can only declare yourself as a non smoker if you haven’t smoked for at least 1 year- this includes nicotine replacement products and e-cigarettes.
Insurance companies are aware that some individuals may not portray an accurate depiction of their life style choices. Hence, they may require you to do a urine or saliva test to confirm your declaration. It is also possible for them to obtain your medical history and during the time of claim may ask for a coroner’s report to see if the cause of death is linked to smoking. In such an event, the policy will be considered void and the payout will not be made to the chosen beneficiaries as the individual has effectively attempted to cover their smoking habit.
If during the term of your life insurance policy, you are able to quit smoking. Then it helps to let the insurer know so they can review your premium. It is also important to let the life insurance company know when there are other significant changes to your circumstance, such as when taking on a bigger mortgage or starting a family.
Like the many expenditures in life, to get the best bang for your buck, it is important to compare as many providers as possible. To help, Free Price Compare offers a hassle free comparison service so you can not only save money but also time. Ultimately, we have the details of all the major life insurance providers, so getting you a quote that’s right for your budget is what we do best.