Life Insurance and Ex Smokers

chris.jones43

Hi I wonder if I can ask for some advice. I am looking at obtaining life insurance to cover a mortgage I am considering taking.
I consider myself to be an ex smoker having stopped 1st October but this is (perhaps understandably) penalised by insurers. In some cases premiums go up twice the amount of smokers who have stopped more than a year.
My question is, is it possible to take out insurance now and then in 6 months time cancel and claim the 12 months non smoking discount?
A following example is from Aviva
"Given up smoking more than 12 months ago" then monthly premium is £21
"Given up smoking in the last 12 months" then monthly premium is £47

ACG

If you havnt given up for atleast 12 months, your basically classed as a smoker.

So you have 2 choices really, take out a policy now and ask the insurer if you can ammend it in October this year or you can always replace the policy in october with a new one.

iaanhayden

Those who fumes typically pay higher life insurance premiums than non smokers do. This is because death rates for smokers are generally higher than for those who don't fumes. Life insurance companies will generally ascribe higher rates to reimburse them for the additional risks they take when insuring a smoker. Life protection providers normally classify policyholders based upon how recently and how often they've smoked.

RichardD1970

iaanhayden wrote: »

Those who fumes typically pay higher life insurance premiums than non smokers do. This is because death rates for smokers are generally higher than for those who don't fumes. Life insurance companies will generally ascribe higher rates to reimburse them for the additional risks they take when insuring a smoker. Life protection providers normally classify policyholders based upon how recently and how often they've smoked.

Yes, we all know this, it's hardly answering the OPs question is it.

warwicktiger

To the original question, the answer is no.

If you smoke or have smoked withing 12 months of proposing you are classed as a smoker.

The policy will then be written on smoker rates for the duration.

Possible solution???

Take out the policy now on smoker rates.

In 7 months time propose again (do not cancel old policy yet)
If accepted as non smoker put new policy into force and cancel old one.

kingstreet

Some insurers will change the rates once the 12 month qualification period is up. You are required to sign a declaration which states you have not smoked in the last twelve months and do not intend to smoke in the future.

One or two insist on a health declaration being completed as well, as I've found out recently, so you may find the terms of your cover are altered if you have suffered illness in the period between taking out the cover and having it amended.

Establish the provider's requirements before you take out the cover, then you get no nasty surprise later. Be prepared to take a cotinine test too. This detects nicotine in the body for several weeks after last smoking.

_Andy_

RichardD1970 wrote: »

Yes, we all know this, it's hardly answering the OPs question is it.

Richard, he's a spammer..hence the nondescript post he did