Life Insurance for Smokers

Every smoker should have life insurance, as the life expectancy of a smoker is lesser than that of a non-smoker. Smoking is not just injurious to an individual’s health; it also affects one’s pocket, when it comes to purchasing a plan. As it may lead to premature death, insurance companies are more cautious while issuing coverage to smokers. Hence, to help smoker individuals, below are some specifically-designed life insurance plans:

Plan Name

Entry Age

Sum Assured

Policy Tenure

Benefits

Aegon Life iTerm Insurance Plan

Minimum: 18 years

Maximum: 65 years

Maturity age: 75 years

Rs. 25 lakh

Minimum: 5 years

Maximum: 40 to 75 years
  • Enjoy life coverage up to the age of 100
  • Additional coverage for critical illness, disability and accidental cover
  • The insured can increase the life cover to meets the family needs.
  • Inbuilt terminal illness benefit
  • Avail tax benefits on premium paid towards life insurance policy.
  • The policy offers flexibility to choose death benefit payout
  • Non-smokers and women can avail this plan at a lower premium.
  • Surrender benefit is available in single pay premium mode only.

 

 

 

Aviva i-Life

Minimum: 18 years

Maximum: 55 years

Maturity: 70 years

Minimum: 25 lakh

Maximum: No limit

10 to 35 years
  • The death benefit is offered to the nominee in case of a sudden death of the insured.
  • 30 days grace period is offered to renew the policy in case someone has missed the policy renewal date.
  • The insured can enjoy tax benefits.
  • A free-look period of 30 days is offered within which the insured can cancel the policy.
  • 5% of the additional rebate is offered to women.
  • The insurer also offers a rebate on larger sum assured

Bharti AXA Life eProtect

Minimum: 18 years

Maximum: 65 years

Maturity: 75 years

Rs. 25 lakh

10 to 30 years
  • Death benefit cover
  • Critical Illness, disability and accidental death riders are available at low additional premiums
  • Tax benefits
  • The premium can be paid monthly/quarterly/half-yearly/ Yearly
  • A lump sum of the death benefit is offered to the nominee for 15 years after the death of the insured.

 

Bajaj Allianz Life eTouch

 

Up to Rs. 10 cr

 
  • The plan offers life coverage with accidental death, disability and critical illness cover.
  • It offers multiple premium payment options, such as monthly, quarterly, half-yearly and annually.
  • Flexibility to choose from various cover options to increase the policy coverage
  • It entitles the nominee to receive a lump sum as monthly income in case of the death of the insured.
  • Lower premium is offered for non-smokers.