Impact of Smoking in Life Insurance Policy

 

    It is a well-known fact that smoking can have a detrimental effect on your health. You must have seen the warning message on every cigarette box - 'Smoking hurts health'. Smoking is a major 30% cause of cancer deaths and increases the risk of heart disease by up to 16 times.

There are about 120 million smokers in India. According to the World Health Organization, India is home to about 12% of the world's smokers. The number of men smoking cigarettes increased from 78 million in 1998 to 108 million in 2015. Tobacco use is responsible for the deaths of six million people each year. Direct tobacco use causes more than 5 million deaths. 0.6 million deaths due to exposure to secondhand smoke. In view of the serious public health risks, the Government has banned smoking in public places with effect from October 2, 2008.

Not only your health, but also makes you pay higher premiums for health insurance policy, due to increased health risks and shorter lifespan. A non-smoker, however, receives premium discounts as a reward for living a healthy lifestyle. To be a smoker, it is important that you do not hide your smoking habit from your health insurance company. As it helps you to cover smoking-related health issues.

There is widespread curiosity among people. How smoking affects health insurance and its costs. Let's educate ourselves about smoking and your impact on health insurance policy.

Smoking - What It Involves

Smoking includes inhaling hot cigarette smoke in the form of cigarettes, cigars and beets. Whether you smoke regularly or smoke regularly, you will be considered a smoker under the health insurance policy.

Smokers can buy health insurance. But the insurance company may charge an extra fee or reject your insurance claim. It is depending on the amount of cigarettes you smoke regularly. The smoker may also need to undergo more medical examinations. That may help the insurance company to identify the risk. Then they charge the appropriate premium accordingly.

How Smoking Affects Your Health Premium And Insurance:

Smoking has a profound effect on your health, some of which are described below.

Circulatory System: Smoking leads to increased risk of heart attack and high blood pressure. The formation of fatty acids may be the result of atherosclerosis.

Immune System: Smoking leads to serious and long-term illnesses. Smokers are more likely to develop ulcers, cancer, pneumonia, high blood pressure, bronchitis. T other bacterial / fungal / fungal infections.

Respiratory System: Smoking can damage lung and respiratory functions. It can cause damage to the airways of the lungs, increasing the risk of developing chronic bronchitis.

Oral Health: Smoking can lead to tooth loss, tooth decay, and gum disease that can increase the risk of tooth decay.

Cancer: Long-term smoking also causes cancer of various organs.

When it comes to health insurance policy, the insurance company looks at the severity of the diseases and deaths caused by smoking. Which is why smokers need to pay higher premiums to get health insurance. Typically, insurance companies charge about 15 to 20 percent more for a smoker. Those who smoke will need to be further tested, before the insurer gives you a policy.

Let’s understand the premium difference between a smoker and a non-smoker.

30-year-old Ritesh (non-smoker) buys an individual health plan for Rs 5 Lacs, 1 year policy period, annual premium Rs 4,656. However, Raj (smoker) buys an individual health plan, charging an annual premium of Rs 7,552. The increase in the premium price is due to the fact that Ansh is lying in the premium smoking category. We see that Raj is paying an additional Rs 2896 for smoking.

Smoker with existing health problems:

If you smoke regularly which is causing symptoms of deteriorating health. you are wondering if you can get health insurance. The answer is yes, the only thing needed to make an honest and fair disclosure.

The insurance company will then look at the risks associated with your profile. After that they decide on the terms and conditions. The premium to be charged by providing you with health cover. Fees charged will be higher and the waiting period will be used to cover your existing illnesses. In addition, if you want to be immediately covered by your deteriorating health condition, you may want a more serious health policy.

Conclusion:

Smoking has a negative effect on your health and your health insurance. The insurance company will charge you a higher premium based on the risks associated with providing health cover. An important point to know is that you should disclose all relevant information about your health and smoking habits. In the unlikely event that you are found to have concealed or provided incorrect information, the insurance company may decline to process claims.