What If I Start Smoking After Taking Term Insurance?

Who is Considered a Smoker?

What Happens If You Start Smoking After Taking a Term Insurance Policy?

Should You Inform Your Insurer About Smoking?

How Do Insurers Handle Such Cases?

What Happens if I Lie about Smoking?

What Happens if I Quit Smoking?

FAQs about Smoking After Buying Term Insurance

What happens if I don’t inform my term insurer that I started smoking?

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If you fail to inform your insurer and the insurer discovers the non-disclosure, they may reject any claims you make or even cancel your policy.

Will my premiums increase if I start smoking after buying term insurance?

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Yes, once you notify your insurer that you’ve started smoking, they will likely reassess your health risks and increase your premiums accordingly.

How can smoking affect my term insurance claim?

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If you fail to disclose that you’ve started smoking, it can lead to claim denial.

Can I switch my policy to a smoker’s policy mid-term?

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In India, most of the time, you cannot convert your term insurance from a non-smoker to a smoker’s policy during the policy term.

What happens if a non-smoker who has opted for term insurance starts smoking after a few years?

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It is important to inform your insurance company about any changes in your lifestyle, like quitting smoking. Being honest can save your loved ones from potential hassles, like claims being cancelled.

What if I decide to quit smoking after buying term life insurance for smokers?

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Quitting smoking usually keeps your term insurance plan and premium the same. However, it’s a necessary step toward better health and a happier lifestyle.

Should I apply for term life insurance as a smoker or as a non-smoker if I quit smoking six months ago?

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Insurance companies typically consider you a smoker if you’ve used tobacco in the last 36 months. It’s best to be open about your health history with the insurer to avoid any inconvenience later.

How will starting to smoke affect my premiums for a ₹1 crore term plan?

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If you begin smoking after acquiring a ₹1 crore term insurance plan, your insurer might categorise you as a higher risk, potentially resulting in increased premiums upon renewal or if you decide to purchase additional coverage later.

Can starting to smoke affect my eligibility for health insurance?

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Yes, starting to smoke can impact your eligibility for health insurance. Insurers often charge higher premiums for smokers due to the associated health risks. If you begin smoking after obtaining health insurance, it is advisable to disclose this change, as it may affect your policy terms or future claims.

Disclaimer

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  • This is an informative article provided on 'as is' basis for awareness purpose only and not intended as a professional advice. The content of the article is derived from various open sources across the Internet. Digit Life Insurance is not promoting or recommending any aspect in the article or its correctness. Please verify the information and your requirement before taking any decisions.
  • All the figures reflected in the article are for illustrative purposes. The premium for Coverage that one buys depends on various factors including customer requirements, eligibility, age, demography, insurance provider, product, coverage amount, term and other factors
  • Tax Benefits, if applicable depend on the Tax Regime opted by the individual and the applicable tax provision. Please consult your Tax consultant before making any decision.

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