What is smokers' life insurance?
Quite simply, it's standard life insurance but for someone who smokes, it's no different from a normal life insurance policy.
If you're a smoker, it doesn't necessarily mean you can't get a life insurance quote, it just means you might have to pay a higher monthly premium as insurers will see you as a higher risk. If anything it could be more important to have some level of protection in place due to the reported health implications of smoking.
Did you know? If you've smoked as much as 1 cigarette in the last year, insurance companies are likely to class you as a smoker and might send you a mouth-swab test to find out.
Why could I need it?
According to Cancer Research UK, tobacco smoking caused an estimated 101,000 deaths in the UK in 2010, with approximately 43,000 of those being cancer related (which is more than a quarter of all cancer deaths - 27%). Tobacco is claimed to be the single most preventable cause of death in the world.
Making sure you have protection in place in case the worst should happen, could help to leave your loved ones with a lump sum, or perhaps even pay off your mortgage (if you have one). The lump sum payout could be used for lots of different things, such as;
- Education costs for any children you might have
- Paying off a mortgage or large debt
- A financial gift for loved ones
- Funeral expenses
- A legacy donation to a charity
Whether you're looking to change to another insurer or take out a policy for the first time, by comparing quotes with Confused.com you can see quotes from a range of providers with no obligation to buy.