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life assurance - just quit smoking
oh_know
Posts: 92 Forumite
Hi quick question !
I am 31 I intend getting a level term assurance set-up paying monthly to pay out 200k should the worst happen in any time over the next 25 years !
it seems that your deemed a non smoker if you have given up over a year agoe - I gave up smoking at the start of the year so my question is should I:
a) lie and say I am a non smoker
b) take out a policy as a smoker for a year, then do a non smoker one at the start of next year ?
Thoughts ?
I am 31 I intend getting a level term assurance set-up paying monthly to pay out 200k should the worst happen in any time over the next 25 years !
it seems that your deemed a non smoker if you have given up over a year agoe - I gave up smoking at the start of the year so my question is should I:
a) lie and say I am a non smoker
b) take out a policy as a smoker for a year, then do a non smoker one at the start of next year ?
Thoughts ?
0
Comments
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If you lie then they can reject your claim. They can tell if you are smoker and have smoked recently so its pointless telling lies as you are effectively paying money for something that will not pay out.
Better off starting as smoker and changing it later.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
And to think that some people on here last week were saying that insurance companies didn't pay out claims and were awful for investigating them so thoroughly.
No wonder if people are prepared to lie to them so willingly.0 -
I think you already know the answer to this.Hi quick question !
I am 31 I intend getting a level term assurance set-up paying monthly to pay out 200k should the worst happen in any time over the next 25 years !
it seems that your deemed a non smoker if you have given up over a year agoe - I gave up smoking at the start of the year so my question is should I:
a) lie and say I am a non smoker
b) take out a policy as a smoker for a year, then do a non smoker one at the start of next year ?
Thoughts ?
Just one note on this subject. Almost every provider would require a new application at the point you qualify for non-smoker rates (ie 12 months since last tobacco & NRP usage). However, the down-side to that is the potential that there may be a change in your circumstances, health or family medical condition that could prevent you from getting a non-loaded premium or even any cover at all. Although this is perhaps unlikely, it is quite possible.
To avoid this scenario, get advice from a whole of market protection broker who can arrange a policy with a insurer that will adjust your premium to non-smoker rates without having to re-underwrite the policy.0
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