I smoke about 10 cigarettes per day and I know sometimes this can increase insurance premiums – is this the case with Medical Insurance? I am reducing the number of cigarettes I smoke and aim to be a non-smoker in the next 3-6 months, when would I be considered a non-smoker in insurance terms?
As you are well aware with many insurance products, particularly the protection products such as Life Insurance and Income Protection, being a smoker results in higher premiums due to the higher risk.
Generally, yes. Most insurers will ask if you’re a smoker and increase premiums accordingly, although this may not be the case for all insurers.
One insurer may provide more preferable rates for a younger individual who smokes while another may be more competitive for a fit and active individual moving towards retirement.
As with any protection product a smoker is often defined as an individual who has used tobacco products in the past 12 months. Thus to be considered a non-smoker you usually have to have been smoke-free for 12 consecutive months.
Drewberry set up our insurance and were really helpful and made it very easy. I was really pleased at how responsive they are and how friendly and easy they made the whole process. I am delighted to be working with them.