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Can Smokers Purchase A Term Insurance Plan?

Published On Jun 04, 2021 2:34 PM By InsuranceDekho

Smoking is highly detrimental to your health. Consumption of tobacco makes for one of the largest causes of death in India, as well as in the world. It causes irreversible damage to your lungs and increases your chances of death. It also affects your finances adversely and complicates your chances of getting a term insurance plan. 

Smokers as Per Term Insurance Policies

It is important to know whether you fall under the category of smokers as per the regulations of a term insurance plan. For term insurance plans, smokers are all individuals who consume tobacco. This is not limited to only cigarettes, cigars or beedis. In fact, if you take khaini, gutka or even nicotine patches and gums, you will still be categorized as a smoker. 

Even if you are an occasional smoker, you will still be categorized as a smoker under a term insurance policy. Insurance providers usually ask whether you have smoked in the past 6 to 12 months. However, you have to undergo a complete health check-up in order to prove your fitness and for the risk assessment.

Can Smokers Purchase A Term Insurance Plan?

Yes, you can purchase a term insurance plan. However, you will have to pay a significantly higher premium than non-smoking policyholders. This is because smokers have high risks associated with them. They can get various illnesses like lung cancer due to their lifestyle habits. Smokers also have shorter lifespans.

Even if you have to pay a higher premium, this is based on your life expectancy and the risks associated with you. Therefore, it is actually quite cost-effective. You must not hide your smoking habits as they will eventually be caught during the medical test. If you are caught lying intentionally, you will be denied the term insurance policy and will also find it difficult to purchase an insurance policy again.

Quitting Smoking After Purchasing a Term Insurance Policy

If you spend a substantial amount of time without smoking, you can appeal to your insurance provider to revise your premium rates. However, occasional smoking still counts towards being a smoker. To make a request, you must stay away from all forms of nicotine for at least four to six months. As proof of this, you can submit a medical report from a licensed practitioner, or as instructed by your insurance company.

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