SMOKER LIFE INSURANCE
Smoker Quotes v Non Smoker Quotes
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SMOKING + LIFE INSURANCE - Not only bad for your health, it's bad for your pocket. Article
With smoking in all public places now banned in UK, stopping the evil weed could save you a fortune in 2018.
As a typical packet of 20 cigarettes costs around £10 - there are financial rewards to be reaped for those prepared to kick the habit re smoker insurance. The health benefits of quitting smoking are not just obvious to quitters, but also to Life Insurance Companies. Smokers life insurance rate usually costs more - in some cases almost 2 x as much as Non Smoker Insurance. A non - smoker life insurance quote will, on average, be 30%-55% less than that of someone who smokes, which can amount to a substantial saving. Lets take an example of a smoker premium life insurance plan for a 50 years old costing say £50pm over 25 years = £15,000 in its lifetime. If in this example an equivalent none - smokers life insurance policy for a 50 years old costs 40% less at £30pm over 25 years = £9,000 in its lifetime. ie; giving up smoking could mean an example possible savings of £6,000; well worth it.
" Life Insurance for Pipe Smokers & Cigar Smokers
Some Life Insurers may classify this as non-smoking "
There are some more specialist Uk Life Insurance Companies who may classify cigar smokers, pipe smokers or pipe tobacco for insurance purposes as a non-smoker still. Likewise there are some insurers who may not classify a "one off celebratory cigar" at say a wedding, New Year etc; as a smoker for life insurance however others may do so. However, do not assume this applies to all insurers. Please contact us - for help re smokers insurance. This is important because it could save you money on your premiums.
You must remember to tell your Life Insurance Provider if you have given up smoking. "However, once you've successfully quit, you could also make a saving in your annual life insurance premiums if you review your requirements." Other insurance products where smoking makes a difference to your premiums include critical illness cover, which pays out on diagnosis on specified conditions; PHI income replacement; and, occasionally, private medical insurance.
Most Uk Insurers say "To qualify for Non-Smoker Life Assurance Rates you need
to have given up all smoking + nicotine products for usually 12 months"
Those who give up smoking may not always see an immediate benefit in premiums. To most insurers, only someone who does not use any nicotine products, including e-cigarettes, gum or patches - and who has not smoked or used these items for at least 12 months - will be classed a non-smoker of nictotine for life insurance purposes. This allows firms to distinguish between those who have never used cigarettes, roll ups etc; or those who stopped a long time ago, recent quitters, and light to heavy smokers. Often Insurers will do a cotinine test for a life insurance application - to check that someone is definately a none-smoker rather than just an occasional smoker re life insurance. Many Insurers will also ask when you last smoked, what you smoked, how much you did smoke at that stage & could still apply a nominal smoker rating if you were a heavy user - even after you have given up 12 months
Smoker Life Insurances - Cost how much more !!
A 30-year-old male smoker, for example, could pay £20 a month for £200,000 of life cover over 20 years for smoker insurance premiums. But if he is a non-smoker the monthly premium drops to around £13 - a saving of £7pm [35%] or £1680 over 20 years! By the same token, a 40-year-old smoker for £200,000 of life cover over 20 years could pay £45 a month dropping to £24pm if he quits - a saving of £21pm [47%] or £5040 over 20 years!
"Stop smoking now may prolong your life - Help avoid claiming early on your Lifecover"
For further help and information
Quit - a charity that helps people to stop smoking. Quitline: 0800 00 22 00 Web: www.quit.org.uk *
NHS smoking helpline: 0800 169 0 169 and website www.givingupsmoking.co.uk *
( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)
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