It is understandable that insurance companies charge a higher premium for those that choose to smoke. After all, the risk of smokers suffering from heart disease, cancer and stroke is sometimes 50% to 100% more than non-smokers.
If you are a current smoker (and are being charged accordingly), all is not lost - you can apply to have your premiums reviewed if you stop smoking for 12 consecutive months.
Here are some comparisons for smoker/non-smoker monthly premiums:
Male aged 30 $100,000 Trauma Cover
Smoker: $30.49 Non Smoker: $17.10 $13.39 saving
Male aged 50 $100,000 Trauma Cover
Smoker: $226.65 Non Smoker: $96.22 $130.43 saving
Female aged 40 $300,000 Life Insurance
Smoker: $44.45 Non Smoker: $21.39 $23.06 saving
Female aged 40 $300,000 Trauma Cover
Smoker: $202.68 Non Smoker: $79.90 $122.78 saving
Worth giving up for, wouldn't you say?
If your insurance cover was put in place while you were smoking and you have since given up, maybe it's time you had an insurance review?