- # The health insurance industry is becoming stronger for smokers and us who are overweight.
- # If an insurance company calculates its premiums, it should indicate the risk of your death while the policy is still in effect. (Or with Critical Illness Insurance, the risk of becoming seriously ill or seriously ill during the policy.) In this context, smoking and obesity have become major issues.
- # The health insurance industry ignores the views of some Pro Smoking Pressure Groups who argue that smokers under the age of 40 have the same chance of death as non-smokers. David Pickett, Manager of Life Insurance at Sainsbury spoke on the insurance industry when he asserted “Smoking health risks can have a significant impact on the cost of living insurance. those who engage in this practice must review their policies ”.
- # How much smoking has to do with health insurance costs is highlighted in a recent abridged study by www.express-life-insurance.co.uk. This found that a smoker pays 56% more than a non-smoker. The study was based on the top nine UK insurance companies and evaluated premiums quoted by two 30-year-old men asking for £ 100,000 in 25 years' cover. The only difference between the details of the application was that one smoked and the other did not.
- # The health insurance industry has also recently tightened its belt on obese members of the public. Previously, people with only 33 or more Body Mass indexes were considered obese. This rate has now been reduced by 16%. Now anyone with a BMI of 28 or higher is likely to face 50% loaded premiums. If you want to know if that applies to you, you will need a calculator! BMI is calculated by dividing your weight in kilograms by your height in meters and the result being square. So if you intend to apply for life insurance it might be best to shed a few pounds first - oops kilos - and it is much harder to lose than a pound!.
- # Not so much for smokers. To qualify as a nonsmoker, many insurance companies insist that you should “not smoke or eat any kind of nicotine product within the last 12 months.” Indeed, some companies are moving forward and extending the eligibility period to 5 years.
- # Because smoking premiums and chubbies are so high, it is even more important to look for prices as cheap as possible. Since you are an Internet user, chances are you will get a good discount. Just look for cheap life insurance and let your fingers go !! You still have to pay a lot but the discount will soften the impact on the fund. Expect online savings of 10% - 15%.
