Life insurance for smokers
In this guide we cover everything you need to know about smoking and life insurance. We also look at what happens if you quit smoking. It goes without saying that kicking the habit will be better for your health and your finances in the long run.
Can you get life insurance if you smoke?Yes, it is possible to get life insurance for smokers. Just under seven million adults in the UK smoke and insurers do provide cover for them. But you can expect to pay higher premiums (the amount you pay for your insurance each month) if you smoke. The premium you pay also depends on your age. Younger smokers (aged around 30) will pay around a third more than people who don’t smoke. Life insurance for smokers over 50 can end up paying at least double what non-smokers pay.
Of course, the exact amount you pay depends on the insurer’s criteria for assessing the risk of smoking. It will also depend on other factors such as your general health, occupation and gender. When applying for life insurance it is always best to be honest. If you died and it came to light that you had been a smoker, the insurer may refuse to pay out to your family. Your insurer may also request a medical report from your GP. If the GP tells them that you are a smoker, this could invalidate your policy.
More on Vitality’s life insurance
Is vaping classed as smoking when it comes to life insurance?
· Chewing nicotine
· Using nicotine patches
· Hookah (water pipers)
If you’re in any doubt, it’s always worth checking with the insurance provider first.
What is considered 'a smoker' for life insurance?
Each insurer will see your habits differently, and the amount you smoke may change the band they put you in. An occasional social vaper might pay a lower premium than someone smoking 20 cigarettes a day.
How long do you have to be a non-smoker for to gain a non-smokers life insurance policy?You should not have used any tobacco or nicotine products for 12 months to be considered a non-smoker. This includes tobacco, vaping and even nicotine patches.
The definition of what is considered a smoker for life insurance depends on the insurer. If you were a smoker in the past but quit, it is worth speaking with the insurer about this before taking out a policy. Life insurance for ex-smokers may cost a little more than it does for someone who never smoked. But over time the premiums might go down.
How much is life insurance for a smoker?Life insurance often costs more for smokers than non-smokers. This is because of the higher risk of death and serious diseases linked with the habit. Depending on your age at the time you take out the policy, you might pay more or less. A smoker in their early 20s might pay 25% to 30% more than non-smokers. Someone aged 50 or above could pay more than twice as much as non-smokers. The insurer will consider different factors:
· How many years you have smoked
· What you smoke (cigarettes, pipe, e-cigarettes, cigars…)
· How frequently you smoke
· Exercise and lifestyle
· If your health has already been affected by smoking.
The insurance policy you go for will also be a deciding factor. Find out more about our life insurance products here.
What happens if you start smoking after you get life insurance?
What if you quit smoking later?If you stop smoking after taking out life insurance for smokers, the good news is that your premiums will likely go down. You normally need to have consumed no tobacco or nicotine products for at least 12 months. That includes nicotine patches, vaping and other methods designed to help you quit tobacco.
Your insurer may ask for evidence that you have stopped smoking. They might ask your GP to provide a report on your general health. This could include doing things like a chest x-ray to assess your general wellbeing.
Relevant guides and articles
Serious and critical illness
Read this guide to serious and critical illness cover and find cover you could get. Get all the answers to your critical illness questions here.
Joint life insurance
How is joint life insurance different to single cover? Find out the answer to this question and learn all about whether this is the best option for you and your partner.
Term life insurance
Thinking about life insurance? Term life insurance covers you for a predetermined amount of time. Find out everything you need to know about term life cover and whether it suits your needs in this guide.