One of the major factors that affect a life insurance premium is undoubtedly the applicant’s smoking status. This is for the very simple and obvious reason that smokers have a far higher mortality rate. The high probability of a smoker dying from a smoking related illness or condition means that insurance companies cover the risk of offering smokers life cover by charging them a much higher monthly premium than that offered to non-smokers.

As to what constitutes a smoker the insurance industry defines it as being someone who has consumed a nicotine product within the previous 12 months and this also includes any nicotine products such as patches or gum. This can often come as a nasty surprise to applicants who have recently stopped smoking and consider themselves to be non-smokers so it is important to remember this definition.

It may be hugely tempting for smokers to lie to their life insurance company about their smoking habit since they will obviously benefit from much lower premiums. However, this is often ineffective and is highly risky. There has been an increasing trend for life insurance providers to request evidence that an applicant is indeed a non-smoker. Insurers often request recent medical records and may also build tests into medical examinations that can determine whether a person is really a non-smoker.

To obtain affordable life insurance or critical illness cover the best option for a smoker is simply to cease consuming any nicotine products for at 12 months and then search around for a new quote as a non-smoker. Given that a smoker usually has at least an additional 50% rating on their monthly premium, you will benefit from a significant saving. Even if you start smoking again once the policy is in place it will not affect your premium as insurers are only concerned with your status on application.

If however, giving up smoking is just not a viable option then its best to shop around and get as many quotes as possible. The market for life insurance is currently very competitive with the fortunate result that premiums have come down in price. Generally, the most competitive prices can be obtained from independent insurance brokers who will search the whole market for you to get the most amount of cover for the longest term possible at the lowest possible monthly cost whether you are a smoker or not.