Weight and smoking can influence life insurance premium
May 2, 2008 by admin
Filed under News, News-Insurance
People’s weight and smoking are two factors which can have a major influence over their life insurance premiums, according to insurance information advisor Life Direct.
Insurance companies tend not to consider a customer’s level of fitness by performing stamina or fitness tests, but rather they look at their height and weight and whether or not they smoke when determining the cost of life insurance.
The company will calculate a person’s body mass index, which Life Direct advises to keep below 30.
Kieran Platt, director of Life Direct, also says people should avoid smoking as this may also increase their premiums.
However, Cancer Research UK recently reported that around 12 million people aged over 16 in the UK are smokers, representing 24 per cent of the total population.
Mr Platt says: “Weight and smoking are the two major factors where you can have a great influence over your life insurance premium.”
Non-smokers save 50% on life insurance
March 1, 2008 by admin
Filed under News, News-Banking
With annual non-smoking day arriving in March, consumers give themselves an opportunity to kick their habit and make savings on their life insurance, claim financial experts. 
According to Lifesearch, premiums for life insurance and critical illness cover can be reduced by as much as 50 per cent if a person does not smoke.
Matt Morris, policy adviser at Lifesearch, said that ‘do you smoke?’ is one of the first questions that an insurer will ask a potential new client, and that a non-smoker has to be someone who has quit their habit for 12 months.
“A cheaper premium is not certain, as it also depends on age and health, but there is a very good chance that the premium will fall,” he said.
The research showed that a 30-year-old non smoker could save up to £1,850 over a term.
Meanwhile, the company said that the value mothers bring to a family is often under-appreciated and they should be looking into protecting themselves and their finances with insurance cover.
