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Term Insurance for Smoker

Term insurance is a purest and simplest life insurance coverage offered for a specific time. It provides financial safety net for your loved ones in your absence. If you pass away during the policy period, your nominee receives a death benefit to cover essential expenses like food, healthcare, and education, ensuring your family's financial stability in your absence.

No Time for Regret!

Secure Your Family's Future with Term Insurance.

1 Crore Term Insurance@ Rs.21/day***

call-icon :1800-266-9777
(ALL DAYS, FROM 9AM TO 9PM, TOLL FREE)

ROP

Return of Premium^

Same Day

Claim Processing#

99.50%

Claim Settlement Ratio##

Rishab Pant buy term Insurance
Lives Insured

66 Million

Lives Insured@

Assets under management

Trillion

Assets under
management@

Total Premiums

630 Billion

Total Premiums@

Term Insurance Plans for Smokers

Term Insurance Plans for Smokers
December 18, 2024

 

Why should Smokers buy a Term Plan?

Every smoker should have a life insurance plan, as the probability of a smoker passing away earlier than other non-smokers is higher. Bearing this in mind, insurance companies now offer term insurance plans for smokers.

There have been cases wherein customers hide the fact that they smoke from insurance companies. However, a health check-up, which is a pre-requisite for a term insurance plan, is sure to reveal the truth. It will also further complicate your policy claim if the insurer finds this out, once you’ve passed away.

Types of Smokers

All smokers do not have the same smoking habits and insurance companies understand this. That is why they have categorized smokers into three types: 

  • Preferred Smoker

A preferred smoker is someone who apart from smoking is overall fit. The premium for this type of smoker is the least.

  • Typical smoker

This is the kind of smoker with a minor lingering health issue. The premiums charged in this case will be slightly higher as compared to a preferred smoker.

  • Table rated smoker

This is a smoker who has an obvious health condition owing to smoking. The premium this kind of a smoker pays on his term insurance plan is generally the highest among all three types. This is because the person already has a health issue and the insurance company looks to minimize its risks.

A term insurance for a non-smoker and a smoker are significantly different from each other. 

Things to consider before you buy a Term Plan

Here are a few things you should know before you buy term insurance for a smoker:

Criteria

Description

  • Minimum age

The minimum age to buy a term insurance for a smoker is 18 years.

  • Maximum age

The maximum age until which a smoker may get coverage is 75 years.

  • Minimum term

A smoker’s term insurance policy is a minimum of 5 – 10 years.

  • Maximum term

The maximum term of the insurance policy may span anywhere between 30 – 40 years

  • Sum assured

The minimum sum assured on a smoker’s plan is INR 3 lakh. The maximum may span up to the amount the insured requests.

  • Premium payments

The premiums in a smoker’s term insurance policy need to be paid annually.

  • Eligibility

Such term plans are only valid for Indian citizens who reside within the country.

  • Maturity of the plan

In case the insured outlives the maturity of the policy, the person does not receive any benefits for the same

 

Why Choose HDFC Life to buy a Term Plan? 

If you are looking to buy a term insurance policy for a smoker, then the HDFC Life Click 2 Protect Life is a great option to consider. 

1. It secures your family in case death, disease, or disability strikes you. 

2. This plan is highly cost-effective and comprehensive, ensuring that your family is well taken care of when you are gone. 

3. This highlights one of the best features of term insurance

4. Additionally, it's important to consider term insurance for parents to provide financial protection and stability for the family in the event of their passing.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

***Online Premium for Life Option for HDFC Life Click 2 Protect Super (UIN: 101N145V06), Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Monthly Premium of 622/30=20.7).

^ Available under Life & Life Plus plan options

#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved

##Individual claim settlement ratio by number of policies as per audited annual statistics for FY 23-24

@As per integrated annual report FY23-24, available on www.hdfclife.com. As of May 2024

ARN: ED/12/19/17049