Do I need to tell them?
It might be tempting to think “well I simply won’t tell them”.
Be very wary of doing such a thing. As far as insurance companies are concerned this would be classed as a ‘material misrepresentation.’ If you were to die and it was found that you were a smoker, the insurance company may well refuse your claim.
In that scenario the best hope would be that the insurer would pay out some smaller amount but there is a very real risk that they will turn down the claim altogether.
Life insurance is of benefit to loved ones left behind in the event of your death. In such circumstances, not only will you have wasted your money paying premiums towards something that will not pay out, but you’ll have robbed your loved ones of the financial security that you had planned for them.
Unfortunately, the only genuine way to reduce the premiums as a smoker is to not be a smoker any more. Quitting for 12 months would allow you to take out a policy as a non-smoker and benefit from lower premium rates.
We know that trying to find the right life insurance policy can be a bit confusing and intimidating so we have tried to take all the hassle out of this for you. Start a quote telling us a bit about you, the type of policy you require and a bit about your lifestyle. We’ll search a range of life insurance providers to give you a range of policies to choose from to find the right policy for you. Get comparing and see how much you could save!