How smoking affects your medical insurance premium?

Smoking is injurious to health! We’ve grown up reading news and watching public interest Ads that emphasize on this fact that smoking may lead to hazardous impact on your lungs and overall lifestyle. But, it certainly fell on deaf ears because as per cancer organization India half of the cancer deaths happen due to excessive smoking. Though it is one of the preventable cancers, but many underestimate the hazards of smoking. Due to medical science’s intervention it’s clearly shown that smoking has direct relation to causing cancer. Sooner or later it affects an individual. However, now it will not only impact the body, soul and mind but also start affecting finances.

What will insurance company when they know about your smoking habit?

Since, effects of smoking is hazardous a smoker is more probable to fall sick as compared to a non smoker. Health insurance companies these days usually ask the insured weather he/she indulges into smoking. If one says yes, the premium is charges a bit extra than the usual premium. A smoker is considered as a high risk individual and in coming few years there are chances of health issues to happen. Hence the premium is hiked.

Who is considered as an active Smoker?

If you have smoked tobacco related products like hookah, cigarettes etc in the past 12 months, then you are considered as a smoker. There is no classification for chain smoker or occasional smoker.

What happens if you do not disclose?

If you feel skipping the question or simply putting yourself under the non smoker category is an easy solution, then you are highly mistaken. Insurance companies believe in the information in good faith. Honesty is the best policy as we say, so if you do not declared smoking habit and in future there is a hospitalization that has occurred due to smoking habit the company has full right to dishonor your claim and reject it. It’s good to tell them in advance and pay an additional premium than facing claim rejection later.

What if you quit smoking?

If you aren’t smoking since a year you can speak to your insurance company to reassess the premium and consider you as a non smoker. The health insurance may reduce the premium depending upon the amount of time elapsed since the individual last smoked.

Take away: Basically, smoking as a habit is not just a mere way to harm your lungs but it may also lead to financial crisis. Imagine a situation where in your claim gets rejected because you are smoker and you have to pay the entire hospital bills. You will either dig up your savings or lend money leading to financial instability. Hence, its recommended to quit smoking and indulge in a healthy lifestyle to avail the facilities of health insurance plans in market.

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