24 May 2023

Can You Get Cheaper Life insurance if You Quit Smoking?

Does vaping affect your life insurance in the same way as smoking?

Are you a smoker looking for life insurance? We have a life insurance partner with expertise in finding life insurance policies for smokers, vapers and ex-smokers.

Knowing where to turn to find life insurance that offers the type of cover you need as a smoker or ex-smoker can feel daunting but by speaking to our expert partners you can feel assured that you are in the right place. Their advice is given fee-free and with no obligation.

Why do I need life insurance?

Life insurance offers your loved ones and dependents protection from financial hardship when you pass away. Smoking can increase your chances of premature death so having life insurance in place is a sensible way of looking after your family should the worst happen. It can help to reduce debts, pay rent or a mortgage or assist with the costs of childcare.

Who is considered a 'smoker'?

In 2021 the Office for National Statistics calculated that there were over 6.6 million smokers in the UK. ASH (Action on Smoking and Health) saw a rise in E-cigarette users in the same year up to 4.3 million of which over half were ex-smokers.

Currently most insurers put anyone who smokes at all whether that is cigarettes or e-cigarettes, or users of nicotine patches or gum into the same category. This is because there has been so little research into the longer term effects of vaping and gum. Although vaping is known to be less harmful than smoking cigarettes, it is still not safe for your health.

Over time this stance by insurers may change and - by using expert advisors such as those we can put you in touch with - you can keep up to date with any changes in cover offered to those who switch to the less hazardous products. Always be honest and accurate with your insurer regarding your smoking habits.

Why do smokers pay more for their life insurance?

Your life insurance premiums are based on your life expectancy. Smoking is widely known to have a major impact on your health - you are more at risk of various forms of cancer, respiratory diseases and cardiovascular problems. These are all likely to affect your life expectancy and therefore the cost of your life insurance.

If I quit smoking will my life insurance be cheaper?

Some insurers will need you to have quit cigarettes for a year to be considered an ex-smoker whilst other companies will wait five years before your status is changed. Our expert life insurance partners will know which companies will be able to offer you a policy as an ex-smoker.

Giving up smoking will certainly be beneficial for your health and over time this will no doubt be reflected in your life insurance premiums as well as likely lengthening your life expectancy so you have much more time to spend with your loved ones.

By speaking to our expert partners - who work with many of the leading UK insurers - you can start your search to compare prices and policies for your life insurance immediately.

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