No shocking news but smokers pay more for their life insurance and other protections. However, if we stop smoking what are our options?
Do the premiums just go down to none smoker rates (we need 12 months nicotine free). The answer is one of two options:
1) Some insurance companies would be pleased to hear your now a none smoker and ask you to re-apply at your current age (old so may not go down!) current health impacts (health may have changed or declined since you first applied) current occupation and finally health impacts to your immediate family.
2) A select number of providers will REDUCE the protection on the premium once a declaration is signed (sometimes they also send a nicotine test kit too) This does NOT factor in any health, lifestyle, occupational and or changes in your families health
Golden Rock Solutions can happily advise on how this can be weaved into the protection mix if your thinking of stopping smoking along with other benefits.
Please reach out for more information
