When you apply for term insurance, the provider will inquire about your smoking habits. They will consider you a smoker if you have smoked more than four times a week for six months and will charge you a higher premium. When applying for term insurance, you will be deemed a smoker if you have used any type of tobacco in the previous year. If you smoke, your term insurance premium might be 40-75% greater than if you did not. You will be deemed a non-smoker if you have been smoke-free for 3-5 years. In such a case, it might assist you in saving money on insurance. The exact difference will depend on your age, premium payment period, the length of the insurance, and the scheme you select.

Nicotine is found in the urine and blood of smokers. The insurance company may request a blood or urine test to determine whether or not the applicant is a smoker. Tobacco usage is linked to a variety of health issues, including cancer, heart disease, and lung illness. As a result, insurance firms consider smokers to be high-risk individuals.

If you don’t smoke for a year, you could be able to get a cheaper premium. The longer you have been smoke-free, the greater the premium discount. These reductions vary from 40% to 75%. Term insurance is the most affordable option for someone who has never smoked. Aside from that, you may improve your tax savings by purchasing a term plan.