Smoking can drive up a person’s life insurance by up to 100%, but using Life Cover Quotes can boost the chances of finding a good quote.
Basingstoke, United Kingdom – March 12, 2020 /MarketersMedia/ —
Life insurance premiums can be affected by a number of things, from age and pre-existing illnesses to lifestyle choices, such as smoking. According to research carried out by the Office for National Statistics 15.1% percent of adults in the UK smoke cigarettes. This equates to 7.4 million people who are likely to pay significantly more for their life insurance.
Life Cover Quotes works with experts who can offer free, no obligation quotes for everyone, including smokers. It takes just 60 seconds to fill in the application form and get the right quote for you. All information included is based on the most recent market data and is completely impartial, with no specific life insurance company endorsed. The aim is to find some of the best quotes for you, by searching major UK life insurers.
Most of those who quit smoking are proud to classify themselves as non-smokers. However, insurance companies don’t always see it this way. To put it simply, if someone has smoked even one cigarette in the past twelve months, they’ll be classified as a smoker for insurance purposes and will need to buy life insurance for smokers. The system doesn’t discriminate between social smokers and 20-a-day addicts, meaning that someone wouldn’t pay less for their life insurance premium if they smoked less; all smokers are treated equally.
Even those who have used gum, patches or lozenges to curb their smoking habit in the past twelve months may still be classified as a smoker by some insurers. This is due to these products still containing tobacco and insurers dividing their risk classes into ‘tobacco users’ and ‘non-tobacco users’.
At present, e-cigarettes users are also considered as smokers by life insurance providers. The reason behind this is, because research on these is in its early stages, the full measure of risk cannot yet be determined.
Even though initial studies seem to suggest that e-cigarette use is safer than smoking traditional cigarettes, the long-term effects are still unknown. It may be that in the future, those using e-cigarettes are categorised differently as more research is completed.
Life insurance providers have the right to conduct spot checks on policyholders at any point. These checks can involve a nurse visiting the insured’s home to carry out saliva or urine tests for traces of nicotine or asking GPs for their client’s smoking history. Many life insurance providers also require their clients to undertake a health screening upon taking out their policy.
Should a tobacco user fail to inform their life insurance provider about a smoking habit, or use of any cessation products, they risk the chance of their insurance not paying out if their loved ones need to make a claim, or alternatively, their insurer may pay-out much lower than the expected amount.
Experts recommend that anyone who has managed to avoid all tobacco products for the past 12 months should contact their life insurance provider to review the initial quote. Failing this, many ex-smokers have found that taking out a new policy has saved them a large amount on their monthly premiums.
To accommodate those looking for the right life insurance cover at the right price, Life Cover Quotes can quickly compare quotes from a number of leading life insurance providers. Regardless of a person’s lifestyle, they will be able to source competitive cover based on how long they want the policy to last and the amount of cover they need.
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