How does Smoking Impact Your Life Insurance Premiums?
Life insurance premiums may be more expensive for someone who smokes, but you shouldn't have a problem finding a policy if you're generally in good shape.
by Leigh-San Mo
Last update 15 Apr 2021
As a smoker, you may wonder if your life insurance premium will be more expensive than that of a non-smoker.
You may also wonder whether there is any way around paying less for your premium, despite your smoking status.
These are valid questions we can help you with.
If you would like to compare life insurance policies now (no matter what your smoking status may be), click here for a free comparison.
It is rarely the case that an insurance company will simply take your word when claiming to be a non-smoker.
You will most likely be asked to undertake a medical examination.
It's not a good idea to lie about your smoking status, as you could be caught red-handed for this reason.
Both smokers and non-smokers may be asked to complete the medical exam.
Your claim will not be confirmed until its completion.
Not only will a medical exam uncover the truth about your smoking habits, but it will also give your insurer insight into your overall health.
Honesty is the best policy for almost any situation, life insurance included.
Your insurance company will not only want to know if you smoke, but also:
These factors may affect the cost of your premiums and your ability to secure coverage.
During your medical exam, a doctor will likely check for signs of illnesses related to smoking that could affect the likelihood you will make an insurance claim.
Premiums will be more expensive if you smoke.
There is no way around this.
While everyone purchases life insurance with the hopes of never using it (ironically) we know that, statistically, smokers are more likely to submit a claim.
For this reason, smokers will usually pay 2-3 times more than non-smokers for their life insurance premiums.
The exact rate will vary among providers, but this is a good indication to keep in mind.
More specifically, premiums are based on the following factors:
If you do not tell the insurer you smoke, this is considered insurance fraud.
You have a duty of disclosure when you complete your insurance application and must provide information about your health status and your smoking status.
Insurance companies may take a number of steps to verify your honesty, such as:
If you have been dishonest, your policy may be retroactively cancelled and no benefits will be paid out.
As mentioned above, if you have quit smoking 12 or more months ago, insurance companies will consider you a non-smoker.
Good news - you will not face a nasty price hike.
If you quit smoking less than 12 months ago, you will still be considered a smoker.
Also note that quitting due to doctors recommendations or serious smoking-related health concerns will be taken into account.
Quitting has to be optional, or in other words, a choice you make, rather than a necessity to prevent disease from escalating.
As a smoker, it is very important to shop around for a policy that will offer the coverage you need at a price you can comfortably afford.
But what exactly should you be looking for?
This guide is of an informative nature only and not representative of Compare Club products. It should not be taken as medical or financial advice. Check with a financial professional before making any decisions.