Life Insurance Quote

Experien Insurance Services helps prepare quotes and comparisons for life insurance and income protection insurance for many Australians each year.

One major factor that affects the price of life insurance or disability insurance is whether you smoke or not. Generally a smoker is defined as someone who has not smoked in the last 12 months.  The cost of insurance can be as much as 50% less for a non smoker – but this will differ from insurer to insurer and product to product.

What is interesting is that, for insurers that offer what is termed a “guaranteed renewable policy”, if you take out cover as a non smoker, and then subsequently start smoking, then your rates will generally not be increased to that of a smoker (ie will not be loaded when you start smoking). However, the opposite generally applies, in that if you take out cover as a smoker, and then stop smoking for 12 months, then your rates may be able to fall by as much as 50% in some circumstances. Again the rules will differ from policy to policy.

Contact us here if you would like assistance with life insurance, trauma insurance, total and permanent disability (TPD) insurance or income protection insurance.

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