Why Is Critical Illness Cover So Expensive

Copyright (c) 2011 Steve Wentworth

Following years of scientific research it has now been scientifically verified that smoking has a damaging result on a persons health and a smoker being diagnosed with a serious life threatening condition.

'Smoking is the single biggest cause of cancer in the world'. (Cancer Research)

According to an investigation performed by the writer, all insurance companies apply an uplift to the amount of the monthly premiums of life and critical illness insurance policies if the applicant is a smoker. This investigation confirms that the increase in premiums increases exponentially the more elderly the customer is when starting the policy. Therefore there is little difference in the premiums of a man aged twenty who is a smoker to that of a 20 year old male who is a non-smoker, here the smoker will be charged a few pound more. Liken this with a 35 year old male smoker looking to take out a new 20 year critical illness cover policy who will pay some £20 per month more than the non smoker equivalent, this hike steps up to a £40 differential for a 40 year old.

So to save money on your life insurance and/or critical illness cover then if you can quit smoking 1 year prior to applying for life insurance and/or critical illness cover you should qualify for the lower non-smokers monthly payments. You will however, still need to confirm to the insurance provider or insurance broker that you where a smoker in the past. However, if you have been clear of smoking for the past 12 months then the non-smoker rates should apply. This is because non-smokers are less likely to make a claim on either life or critical illness as there is a lesser probability of the sum assured being diagnosed with a critical life threatening illness or losing their life.

Look after your life, and the pounds will look after themselves!


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Steve Wentworth formed his firm Wentworth Financial Services in November 2007 having been in the industry since November 2002. Want to know how to obtain cheaper critical illness insurance premiums then visit our website http://www.wentworthfs.co.uk/insurance .