Dads who smoke, whether that’s regular tobacco or e-cigarettes, will pay more for life insurance than non-smoking dads.
Due to the many health risks associated with smoking, insurers will hike premiums to mitigate the higher risk.
However, this doesn’t mean affordable life insurance options aren’t available.
What it does mean is that you should compare a wide range of quotes to find the best possible deal.
Also, the sooner you take out life insurance as a smoker, the better. This is because as you age, your premiums will increase at a much faster rate than those of a non-smokers.
The table below shows the difference between the average cost of level term life insurance for a smoker and a non-smoker in good health. Based on a 20-year term for £100,000 of cover:
If becoming a dad has given you the motivation to quit (securing cheaper premiums) you can find support and guidance here https://smokefree.gov/ »