Common Questions About Life Insurance From Smokers
NHS statistics from 2020 show that there were an estimated 74,600 deaths in Great Britain caused by or attributed to smoking. The NHS also reported that approximately 506,100 hospital admissions were attributed to smoking, which is similar to 2018/19. They also report that the amount of people trying to stop smoking using prescribed medication has reduced by 71% in 10 years, from 2.4 million (2010) to 710,000 (2020).
Based on a person smoking 10 cigarettes a day, smoking would cost in excess of £2,480 a year.
However, as detailed in our guide Does Drinking Affect The Cost Of Life Insurance it is not just the cost of tobacco that can cost you more than a non-smoker. Because of your lifestyle choice, Life insurance may also cost you significantly more as a smoker.
Common Questions About Life Cover
Here are the 10 most common questions about Life Insurance that people ask if they are a smoker:
1. Does Being A Smoker Affect Life Insurance?
In a simple answer, yes the cost of Life Cover is increased if you are a smoker. However, because each quote is created on the circumstances of the individual including medical history and other factors, the cost of a policy might be lower than you might expect. When compared to a non-smoker with no medical problems you can typically expect to pay up to double the premium.
2. Why Is My Life Insurance Premium So Expensive?
Through ongoing medical research into avoidable causes of cancer in the world, Cancer Research UK has identified tobacco is the single biggest contributor in the world. On average, an individual who is defined as a long term smoker will lose approximately a decade of life when compared to a non-smoker. It is also worth noting that up to two-thirds of all long-term smokers will be killed by their lifestyle choice.
Because of the increased level of risk to an insurer as a smoker and the increased potential of submitting a claim against a Life Insurance policy, your monthly premium will be higher than a non-smokers. An insurer may incentivise the option of cheaper Life Insurance by quitting smoking and reducing your premium.
3. Do I Have To Tell An Insurer That I Am A Smoker?
As detailed in our Making Life Insurance Mistakes Guide, Yes, you need to inform a Life Insurance provider that you are a smoker. It might be tempting to obtain a policy at a reduced monthly premium by not declaring your smoker status. However, by choosing not to disclose a material fact on your application form could be considered as fraud. By not declaring that you are a smoker could mean:
An Insurer only paying a proportion of your insured amount (benefit), taking into consideration how much less you paid than you would have if you had declared your smoker status.
The Insurer may choose to decline your families claim against the policy and void your policy because of non-declaration, undoing all of your good intentions.
Depending on the amounts of cover requested an Insurer may choose criminal prosecution.
4. Will An Insurer Know that I Smoke?
After choosing to Compare Life Insurance Quotes and choosing the best provider for you, an insurer will provide an initial quote on the information provided. An Insurer will assume that the information provided is correct and honest.
During your application process an Insurer may ask for permission to contact your GP to obtain your medical history. It is also worth noting that a Life Insurance provider may ask for you to attend a medical for a urine or saliva test to prove whether or not you smoke. These are just standard processes to ensure both you and the Insurer are both happy with the Life Insurance policy for the future.
5. What Defines A Smoker For Life Cover?
Throughout all of the UK Life Insurance providers each policy is worded differently. However, the general definition for a person who is a smoker is identified specifically as:
“Have you used tobacco or nicotine in the last 12 or 24 months?”
If an individual answers ‘yes’, they will be classified as a smoker and may have to pay an increased monthly premium for their Life Insurance.
6. Do I Tell A Life Insurer If Use patches or Just An Occasional Smoker?
As detailed in our guide 10 Reasons To Use A Life Insurance Broker it is always important to advise an insurer of any medical or lifestyle choices which may impact your protection policy. An Insurer will consider an individual who occasionally smokes or uses patches as a smoker. By identifying if you have used any tobacco or nicotine products within a specified period, will help an Insurer to provide an accurate quote for a Life Cover policy.
All UK Life Insurance providers generally do not make any distinction between cigarettes, cigars, roll-ups, pipes or nicotine replacement products such as patches or gum.
7. Do I Tell A Life Insurance Company That I Vape Or Smoke E-cigs?
Statistics from ASH estimate that there are 3.6 million users of vapes and e-cigarettes in the UK. Of this total approximately 2.4 million users are ex-smokers and 1.1 million use a vape and still smoke. Many people are turning to vapes and e-cigs to help them to stop smoking or because they are seen as less harmful than traditional cigarettes.
However, as detailed in our guide Vaping Life Insurance, all UK Life Insurance Companies categorise vapes and e-cigs as cigarettes and subsequently define the individual as a smoker.
This is due to the research regarding the effects of vaping and vaping smoke is still in its infancy and there is much that is not known about the effects of e-cigarettes on the body.
This means that Life Insurers are a little cautious about taking on applications for Life Insurance from those who vape. An Insurer will also want to know about your current state of health, medications you take, any treatments you are undertaking, and how often you vape so that they can determine your level of risk.
8. How Do I Find The Best Price For Life Cover?
All UK Life Insurance providers have different ways of calculating premiums for individuals who smoke. Because each provider is different, it can be difficult to find the best price and level of Life Insurance that you need. To find the best monthly premium and level of cover, you have two choices:
Search all of the UK Life Insurance providers to find out which Insurance companies will offer you the best rates. Including fully researching their policy limitations and their terms & conditions.
Use an FCA regulated broker who is not tied to one single policy provider, like Life Insurance Cover. By choosing Life Insurance Cover to find the best policy for you, will allow you to compare the market of all the Life Insurance Companies in one quick search. Helping you to get the policy you need, within your budget.
9. I Gave Up Smoking, Can I Get Cheaper Life Insurance?
By choosing to stop smoking will have many benefits including a cheaper Life Insurance policy. When starting to look for a protection policy, it is advisable to inform an Insurance provider when you ceased smoking. This is to ensure that you have provided the correct information when obtaining a policy, if the date of stopping smoking is within 12/24 months an insurer may still class you as a smoker.
If you currently have a Life Insurance policy in place, which was purchased when you were still smoking. The likelihood is that you could be potentially paying extra per month because you are no longer smoking. If you have stopped using nicotine products, smoking, vaping and other replacements for at least 12 months, you may then be able to qualify for lower monthly premiums. It is important to note, an insurer can ask for proof of your non-smoker status via a GP visit or a medical appointment.
If you have been successful and tobacco or nicotine free for more than 12 months, take the positive step and tell your Insurer. They may offer you more competitive terms on your policy, alternatively it may require you to take out a new policy.
You should also shop around for cover to see if you can get a better deal with a different insurer as a non-smoker. By using an FCA regulated broker, like Life Insurance Cover, can help you review your Life Insurance and apply for a new protective policy. It is worth noting that, if you have been diagnosed with a medical condition after buying a policy, it might be excluded as a pre-existing condition.
10. Should I Use An Insurance Broker To Get My Life Insurance Policy?
A good Life Insurance Broker can provide you with a full and clear understanding of the many different types of Life Insurance policies available to you. By explaining the complete process of taking out a new Life Insurance policy, paying your monthly premiums and how to make a claim. Our expert team have the knowledge and experience required to help.
An experienced Life Insurance broker can help you decide if you need:
Decreasing Term Life Insurance: This policy type is ideal for a long term financial commitment like a mortgage. A decreasing term policy will have medical questions and Insurers will need to your smoker status.
Level Term Life Insurance: A Level Term policy is slightly more expensive than a decreasing term policy. This is because the amount your loved ones receive remains level during the policy term and does not reduce. Similar to a decreasing term policy, this policy type also requires medical questions and smoker status.
Whole Of Life/Over 50s: This policy type is usually one of the most expensive options and often purchased by individual over 50 years old. This is due to this policy type not requiring medical information or smoker status.
Getting Your Life Insurance Cover Policy In Place
Getting a Life Insurance policy in place can seem like a long process and we hope that we have answered some of the common questions about smoking and Life Insurance. As you can see from our guide, each individual quote will vary because each person is at different stages in life. The younger you start thinking about Life Insurance protection the better. By searching and finding Life Insurance Cover with us, can help you get the best value for money and the best Life Insurance protection available. Get a quote today and we can help find the right Life Insurance policy for you.