Top Tips for Getting Life Insurance If You Smoke

Smoking can have an impact on your health but it can also affect the cost of your life insurance cover. Generally speaking, smokers pay more on their monthly premiums than non-smokers. This is because smokers can pose a bigger risk to insurance providers, increasing the likelihood that the policy will have to pay out.

Whether you are a smoker or not, having life insurance cover in place can be very important, and one day it may provide essential financial support for your family. So, if you do smoke, here are some top tips when it comes to applying for life insurance.

1. Be honest in your application for life insurance

It is always very important to ensure all information provided is accurate. If it isn’t, this could lead to a claim not being paid or paid in full. Insurance providers usually deem you as a smoker if you have used any tobacco products or nicotine replacement therapies in the last 12 months. 

Tobacco products can include cigarettes, vapes and e-cigarettes, cigars, pipes and even other nicotine products or replacement like patches.

Life insurance for smokers can be more expensive with higher monthly premiums than for someone who does not smoke and has not used any form of nicotine replacement therapy. It is important to remember that insurance providers can find out if you have given misinformation on your application, usually through medical checks. If you have other health problems, you might be asked to undergo further medical questions or a physical examination which can reveal information about your smoking status.

If you were to claim on your policy and it turned out that you did smoke, your insurance provider may not pay the claim in full or at all.

2. Compare quotes from leading providers 

One of the best ways to make sure you are getting the right policy for your needs is to compare quotes. This is because you are able to see clearly what each insurance provider could offer you depending on your individual circumstances, and helps you to choose the right cover. 

However, comparing quotes and searching the market can be time-consuming and even a little confusing. Consider working with an insurance broker who can do the hard work for you, and offer you advice on choosing the right policy.

If you smoke, you may feel a little apprehensive about getting life insurance. Unfortunately, your premiums will never be as cheap in comparison to someone who is considered a non-smoker, but comparison services may help you to keep costs down as much as possible.

3. Quit smoking

You have no doubt heard it before from all your loved ones, but the easiest way to make sure you are a picture of health is to kick the habit and quit smoking. This can have a positive impact on the cost of your life insurance, but there are some conditions. 

Many insurance providers require you to have not smoked or used nicotine replacement therapy for 12 months, in order to be considered a non-smoker. If you go 12 months without using any nicotine or using replacement therapies, while having an active policy in place, you may be able to adjust your cover in light of becoming a non-smoker.