Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Term Insurance: Smokers vs Non-Smokers

Smokers are also eligible for term insurance policies but their terms and conditions are quite different from non-smokers. Click here to know all the conditions.

  • Oct 20, 2021
  • 1,242 Views

Regardless of the fact that people are all mindful about smoking being injurious to health, some still get addicted to the habit. For such people, it could be a coping mechanism, a stress release, or maybe something they generally prefer. While smoking is certainly harmful to one’s health, it can also cause a blow to your finances.

A common means for most people to strengthen their financial security is through insurance plans. However, their smoking habits can have a detrimental impact on the plans they choose, the premiums they pay, and even the payout they receive. Read along to understand the substantial differences among smokers and non-smokers when it comes to term insurance plans.

Term Plans for Smokers

  • Who are Smokers as per Insurance Providers?
  • Anyone who consumes tobacco or nicotine through cigarettes, pan masala, bidi, gutka, or cigars is classified as a smoker by insurers. Before you buy a protection plan, you are generally asked some particular questions like when you last smoked, your smoking habits, and what means you use to smoke. Moreover, it is advisable to provide full medical data and reports when you are filling the insurance proposal form.

  • Term Insurance for Smokers
  • Smoking shortens your life and exposes you to a host of other risks. Therefore, the need to safeguard your loved ones and future is more critical if you are a smoker. A term insurance policy can help your family members with debt repayment, school and college tuition, daily expenses, travel, and other payments.

  • Why is the premium higher for smokers than non-Smokers?
  • In comparison to non-smokers, smokers often pay a higher insurance premium. This is owing to the fact that they are more susceptible to illnesses and fatalities. Because the risk of death from smoking is high, insurers charge greater premiums to compensate for the increased likelihood of claiming the coverage.

Term Plans for Non-Smokers

  • Who are Non-Smokers as per Insurance Providers?
  • Non-smokers are those who do not have burn-through consumption of nicotine or tobacco through cigarettes, stogies, gutka, and other forms. Do note, any individuals who formerly used to smoke however have not in a year prior the date of buying general life insurance are also called non-smokers.

  • Term Insurance for Non-Smokers
  • After conducting essential health examinations, premiums for non-smokers result in extremely low rates for substantial covers. Furthermore, the earlier you purchase, the lower the premium you will pay.

Claim Payout Ratio for Smokers vs Non-Smokers

The claim payout ratio is the number of claims paid split by the number of claims submitted; thus, the higher the ratio, the better for the insurer. It is generally known that smokers file 1.5 to 2 times the number of claims as non-smokers.

To wrap it up, a term plan for smokers and non-smokers irrespective is an important financial instrument to ensure that your family is protected when you are gone. Furthermore, with so many options, finding a term plan that suits your budget is evidently becoming effortless. However, you should always share your medical history while buying a plan to ensure you and your family don’t have to face difficulties while claiming. Additionally, you should remember that the terms and conditions of each policy varies. Therefore, you should analyse your needs and conduct thorough research to choose a plan that offers a better future tomorrow!

Kotak e-Term

Download Brochure

Features

  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Insuring Against Disability With Disability Insurance Rider

Which Death Type Does Your Term Plan Not Cover?

Steps on How to Buy Term Insurance Online

All about Online Income Tax Calculator

Joint vs Individual Term Insurance: Which One Should You Choose?

Can I Make Changes to My Term Insurance Policy Post Purchase?

While Buying Term Insurance Compare Features, Not Just Premiums

Calculating Term Insurance Premium

4 Things To Expect From Your Term Insurance Plan in India

Should you have more than one nominee in your term insurance?

Importance of Term Insurance at Every Stage of Your Life

Should you buy a Renewable Term Life Policy?

Comparing Term Plans – What Should You Look Out For

Is Life Insurance Investment Worthy Enough

Why Spending Time with Friends is Essential for Your Mental Health?

How To Calculate The Amount Of Term Life Insurance You Need?

Difference Between Term Insurance and Endowment Plan

What Should You opt for - Limited or Premium Pay?

Make Your Online Term Plan Your Family's Monthly Pay Cheque

How Does Term Life Insurance Work? Learn the Benefits

Difference Between Term Insurance and Endowment Plan

How Does Short-Term Life Insurance Work?

Can I Buy Term Insurance for a COVID-19 Patient?

What is a term insurance plan with a return of premium, and how does it work?

How Much Term Life Insurance Cover Do I Need in India?

Why Short-Term Insurance Plans Deserve a Second Look?

Term Insurance Calculator - Everything You Need To Know

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

Insuring yourself against Ill Health with a Critical Illness Rider

Term Insurance Plans and Policies for Smokers

How To Evaluate Your Term Insurance Quote?

कोविड -19 बूस्टर खुराक के दुष्प्रभाव

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

9 Ways to Help Family Members in Financial Trouble

Difference Between Short-Term and Long-Term Insurance

Can You Increase Your Term Insurance Cover?

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Eligibility Criteria for Buying Term Insurance in India

All you need to Know about Term Insurance Plans for housewives

What is Critical Illness Policy?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

Term Insurance Age Limit – Term Plan for All Age Groups

6 Reasons That Make Term Insurance a Must Buy

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

Insurance Policy for Housewife In India

How to Identify Term Insurance According to Your Needs?

How Does BMI Affect Your Term Insurance Premium?

Why Buy Term Insurance Even at Rising Rates?

How To Choose the Right Term Insurance Plan?

What Is the Correct Age to Buy Term Insurance?

What is Term Insurance? Term Plan Meaning and Definition

How Much Cover Should I Take In A Term Plan?

9 Point Guide on how to File Income Tax Return Online

Buying A Term Insurance Plan? Take These Factors into Account

Advantages of Buying Term Insurance in Your 50s

8 Benefits of Term Insurance You Should Know

11 Types of Death not covered in Term Insurance Plans

Should You Buy a Term Plan After 40?

Term Insurance With Riders In India

What All Documents Required For Term Insurance In India?

Understanding Term Insurance Riders

5 Things To Consider While Buying Term Insurance Plan

What Are the Best Term Insurance Plans for Planning Retirement?

How to Buy 1 Crore Life Insurance Policy Without Medical Test

10 Ways to Get Your Kids Involved in Your Healthy Lifestyle

Different Types of Premiums in Term Insurance?

Do I Need to Give a Medical Test for Term Insurance in India?

What is a short term insurance policy?

How Not To Get Your Term Insurance Claim Rejected

Why does every working women need life insurance?

5 Reasons to Have a Child Education Plan

Can Term Insurance Plans Be Purchased As A Gift?

Protection for your family

Is Group Term Life Insurance Provided By Employer Sufficient?

टर्म इंश्योरेंस क्लेम प्रक्रिया

How to Surrender Term Life Insurance When You Have No Liabilities?

How to Buy ₹1 Crore Life Insurance Policy Without Medical Test?

How do I Calculate My Term Insurance Premium

Is term Insurance Needed for People With No Dependents?

Why Should New Parents Buy Term Life Insurance?

क्या ₹1 करोड़ का टर्म इंश्योरेंस पर्याप्त कवर है?

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

Tax Benefits of Term Insurance in India

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Term Plans are Definitely Cheaper than You Think!

What Types of Deaths Are Covered in a Term Insurance Plan?

Different Types of Protection Plans

Term Life Insurance Vs Money Back Life Insurance

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

What Is a Renewable Term Insurance Policy?

Why Married People Should Buy Term Insurance Under MWP Act?

Ensure Protection Against Death, Disease & Disability With Life Insurance

Gift Your Father A Term Insurance Plan This Father's Day

Is ₹1 Crore Term Insurance Good Enough Cover?

5 Benefits of Early Retirement Planning

10 Ways to Mentally Refresh After a Stressful Day

Why Term Insurance Is Better Than ULIP?

Can I Get Term Insurance on Behalf of My Spouse?

8 Things To Do After Buying Term Insurance

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

Types of Life Insurance Policies in India

Is There Any Tax Benefit on Term Insurance?

Term Life Insurance Plan for Smokers vs Non-Smokers

Endowment Plans vs Term Plans: Understanding the difference

Planning For Son or Daughter's Wedding

9 Most Frequently Asked Questions on Term Insurance

भारत में जीवन बीमा कितने प्रकार के होते हैं?

4 Reasons Why You Need Critical Illness Cover

Why is it important to buy term insurance plan?

What Happens if you Hide Facts in your Term Insurance?

What Are Insurance Riders and How to Choose Them in a Term Plan?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

5 Reasons to Buy Term Insurance When You are in Your 30s

Busting Myths and Facts About Term Insurance Policies

How Much Term Life Insurance Cover Do I Need?

Term Insurance with Critical Illness

भारत में गृहणियों के लिए टर्म इंश्योरेंस

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

Should Youngsters, Working Couples Buy Term Insurance Plans?

Insuring Against Accidents with an Accidental Death Insurance Rider

Why Premium Amount for Term Insurance is So Low?

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Do You Need Term Insurance Cover After Retirement?

Is It Good To Buy A Term Insurance Plan In 2022?

Does Term Insurance Cover Accidental Death?

Why 1 Cr Term Plan Is Necessary For Family?

Benefits of Short-Term Life Insurance Policy

10 Most Frequently Asked Questions - FAQs on Term Insurance

Cost of Term Insurance Likely to Increase Soon

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

Term Insurance Vs Car Insurance: A Budgetary Choice You'll Regret

Tips to Choose the Right Term Period for Term Insurance Plan

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Key Differences Between Term Insurance, ULIPs, And Health Insurance

Everything About Claim Settlement Ratio for Term Insurance

Term Insurance Claims – Make Sure Your Claims Are Never Rejected

Choosing Riders for Insurance Plans

What is Insurance Premium? | Definition of Insurance Premium

Does Your Term Insurance Plan Cover Death Due to COVID-19?

4 Methods to Calculate How Much Term Insurance You Need

Term Insurance vs Life Insurance: Understand the Difference and Benefits

Can You Get Term Insurance Without Income Proof?

What Should Be The Duration Of Your Term Plan in India?

टर्म इंश्योरेंस बनाम लाइफ इंश्योरेंस: अंतर और लाभ समझें

Term Insurance Basics You Should Know

Do Beneficiaries Pay Taxes on Term Insurance?

Can I Extend the Tenure of My Term Insurance Plan?

Increasing Term Insurance and Riders

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

8 Factors to consider before choosing a Critical Illness Insurance

Can Senior Citizens Avail Term Insurance?

How to Compare Term Insurance Online

Why Should You Buy Term Insurance in 2022?

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

How Does Term Life Insurance Work? Learn the Benefits

Online vs Offline Term Insurance: Which Is The Better Option To Buy

Why Term Plan Should Be The First Step To Securing Your Future?

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

5 Term Insurance Benefits for Single Women

Why Should You Not Take A Term Plan Without Medical Test in India?

Can a Housewife Buy a Term Insurance Plan - All You Need to Know

Why Should You Add a Rider to a Term Insurance Plan?

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

How To Choose the Right Sum Assured Under a Term Plan?

Is a Term Insurance Policy Portable?

What are the Documents Required for Term Insurance Plan?

Zero Cost Term Insurance Plan: What is & Should you buy it?

All About Term Insurance Inbuilt Coverage

Insuring Protection Against Death With Death Insurance Rider

10-Year Term Life Insurance Policy - Explained in Detail

6 Types of Death not covered in Term Insurance Plan

Make Your Online Term Plan Your Familys Monthly Payout

Side Effects of Covid-19 Booster Doses

Term Plan with Spouse Cover

Do term insurance policy have a waiting period after buying?

How To Change The Nominee in Term Insurance?

Why should single women purchase term life insurance?

Reasons You Need Term Insurance Plan as a Self-Employed Person

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

3 Things to Consider When Buying Term Insurance, If You are Single

Why You Must Include In Your Financial Planning?

Individual Life Insurance vs. Group Term Life Insurance

Is Term Life Insurance Plan an Investment or Expense?

Advantages & Disadvantages of Term Insurance in India

Why Term Insurance Is Important in times of COVID-19?

Why Buy Term Insurance Plan With a High Cover?

Planning For Children's Future

Should You Have Multiple Term Life Insurance Policies?

Know How to Invest at Every Age for Larger Returns

What are incremental term insurance plans?

Top 3 Reasons Why You Should Buy A Term Plan Now