lying on mortgage protection life assurance forms? (in terms of smoking)

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bobo

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Hi, I'd just like to get peoples opinions about lying on mortgage protection life assurance forms in terms of smoking. The person in question smokes maybe 5 a day and is hopeful of giving up in the future. Is it best to be honest and say that you smoke when taking out our first policy as first time buyers. If the person was to give up smoking will premiums in subsequent years go down after a period of a year or so??
 
Re: lying on mortgage protection life assurance forms??

I would suggest telling the truth. The main problem with 'hopeful of giving up in the future' is that it may never happen.

Once the person has quit smoking for a full year, contact the life assurance co. and inform them. They may send the person for a swab test to prove it.

In the meantime should anything happen as a result of smoking, you can rest assured that you are eligible for a payout.
 
in the event of a claim under the policy and it being confirmed that propser was a smoker, but said s/he was a non smoker, claim WILL be refused. Insurance is based on 'utmost good faith'.

next of kin could appeal to ombudsman, but I fear that the appeal would NOT be upheld, due to the lie.

There might be other words, but to lie on proposal form is to activly seek repudiation of the claim.
 
Ok so, we have discussed it and we are inclined not to lie. If the said person gives up smoking in the future is it certain the premium will drop?
 
If the person gives up (for over a year) non smoker rates will apply.

However bear in mind that the premium also depends on the age of the person and the older s/he is the higher the premiums will be.
 
bobo said:
Ok so, we have discussed it and we are inclined not to lie. If the said person gives up smoking in the future is it certain the premium will drop?
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I used to smoke and six months after stopping I applied for insurance. I was told that I would have to pay smoker rates but once I stopped for a year my premiums would go down. (I didn't take the insurance then but now, 18 months after stopping smoking, I can apply as a non smoker)
 
Bubbly Scot said:
I used to smoke and six months after stopping I applied for insurance. I was told that I would have to pay smoker rates but once I stopped for a year my premiums would go down. (I didn't take the insurance then but now, 18 months after stopping smoking, I can apply as a non smoker)
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Can I ask who you got your mortgage protection policy with ? thanks.
 
This is someything that always annoys me about insurance, all types.

Im not a fan of high premiums or anything or in the trade but I dont get lying to save a couple of quid.
You may as well save a lot more than a couple of quid and just get NO insurance and save the whole lot cos if you go for a claim they will look into every deatail to find ways of not paying.
I canbt see how its worth it......
 
bobo said:
Can I ask who you got your mortgage protection policy with ? thanks.
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That was with the BOI, they're expensive..which is why I didn't go with them...but it was them that said smoker rates would apply and then drop after I'd quit for one year. I'm sorting my mortgage protection with them tomorrow but only because I figured it would be handy to have everything in the same stable...as it were. We're rushing to close on a house but that's a whole other discussion.
 
Once you are off cigarettes for over a year, you can be assessed as a nonsmoker.

You can inform the company you are currently with when this has happended or you can apply to another company/broker as a non smoker to see if you can get a better deal.

For the record, being a smoker practically doubles the premium for a lot of people.
 
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