How Does Smoking Affect Your Life Insurance?

According to recent figures, it’s estimated that there are about 6.9 million smokers in the UK. For most of us it’s no secret that smoking is bad for your health, but did you know that it could also affect your ability to secure life insurance? That’s right, as well as potentially causing some pretty serious health issues, it could also drive the price of your premiums up, or even get in the way of you securing life insurance at all with some companies.  


But what actually counts as smoking when it comes to life insurance, and what do you do if you’re a smoker looking for protection? Let’s have a look… 

 

Am I considered a smoker?

 

When it comes to life insurance, you’re considered a smoker if you’ve smoked any cigarettes, used a vape, or used any nicotine products in the last 12 months. Yes, that does include ‘social’ smoking too.  

 

Do I need life insurance if I’m a smoker?


There’s no denying that smoking is bad for your health. In 2020 alone, 506,100 hospital admissions were attributable to smoking and 74,600 deaths were deemed to be as a result of smoking. If you’re concerned about your health and how your loved ones may be impacted if the worst were to happen, then life insurance may be something to look into. 


With the right protection in place, you could ensure that there’s money there to help your family pay for outstanding debts, bills, or other future needs. And you could have some peace of mind knowing that if you were to unexpectedly pass away or become seriously ill, there would be a financial safety net in place for your loved ones when it matters most.   


How does smoking affect my life insurance policy?

 

Unfortunately, if you’re a smoker it’s likely that it will have an impact on your life insurance. When you apply for life insurance, most insurers will ask you a few health and lifestyle questions to help them work out how much of a risk it is to insure you. This is turn can affect how much your monthly premiums will cost.


As we know, it’s no secret that smoking can cause a range of health issues, and as a result, smokers are more at risk of suffering from and passing away from serious illnesses associated with smoking. Because of this increased risk, you could face a higher rate of premiums than a non-smoker would. 


If you are a smoker and you’re struggling to find affordable quotes or you’re concerned that you won’t be accepted because of your health, you may be interested in a guaranteed policy. Smart Guaranteed Life Insurance is available to UK residents aged 30-80. You won’t be asked any health or medical questions when you apply, and your monthly premiums would be fixed.  

 

What if I lie about smoking on my application?

 

When it comes to making an application for life insurance, it’s important to be completely transparent and honest when answering questions. If you were to lie or leave out important information during your application, it could result in your policy being deemed invalid. 


When a claim is made on your life insurance regarding a health condition, the insurance company will investigate to make sure the claim is valid. If they find that you have lied or provided false information on your application, they won’t pay out. So, even if you only smoke socially, or vape once every now and again, make sure to be honest about it.  

 

What if I’ve given up smoking since taking out my policy?


When you take out a policy with Smart Insurance, it’s flexible. That means that you can apply to make any changes to your policy, free of charge. So, if you have quit smoking, you can request to make a change to the cost of your premiums. But you must be free from using any tobacco products or vape products for 12 months to request this. 


My partner smokes but I don’t, will this affect my policy?


If you’re applying for life insurance for a single applicant (that is, just for you), then your premiums will be based solely on the information you have provided. So, your life insurance wouldn’t be affected by your partner smoking. However, if you were to apply for a joint policy, both you and your partner would answer the relevant health and lifestyle questions. As a result, it’s possible that your premiums would be higher as a result of your partner’s smoker status.  


We’re here to help


At Smart Insurance, we’re here to help you secure financial protection & peace of mind for your family. Whether you’re a smoker or not, our team are on hand to help you find the right policy for your needs, so that you can relax knowing your loved ones are in safe hands. 


If you would like to find out what your options are when it comes to securing a policy with us, you can speak to one of our friendly UK-based team today. They’ll be more than happy to help.