Smoker or Non-Smoker – You Should Buy Term Insurance


Most people tend to acquire negative lifestyle habits due to various reasons. One of such habits is smoking. Now, we all are well aware of the impact of smoking on our health. But what most people don’t know is that smoking can increase your health and life insurance premiums as well.

That’s right. If you are planning to buy a term insurance policy, your smoking habit will land you with expensive premium rates. But this should not stop you from purchasing term insurance. The primary objective of buying term insurance is to ensure your loved ones are financially protected in case anything was to happen to you. 

With term insurance, your family will receive a lump-sum benefit after your death. The amount received can be used by your dependents as and when needed. Besides this, there are several other benefits of term insurance. Here, take a look!

Benefits of Term Insurance for Smokers/Non-Smokers

  • The policy is affordable.

Term insurance is the most affordable life insurance product available in the market. That means whether you are a smoker or non-smoker, you can purchase a term plan at an affordable price in India. However, note that the term insurance premiums for smokers will be relatively high as compared to non-smokers. You can use the term insurance calculator to determine the cost of the policy based on your lifestyle habits and other factors. 

  • You can enhance the scope of the term plan with rider benefits.

Ideally, term insurance provides the death benefit to the beneficiaries after the death of the policyholder. However, with the rise in demand for term insurance in India, insurers provide several variants of the policy. 

You can enhance the scope of your basic term insurance plan with several rider benefits such as the return of premium cover, critical illness cover, waiver of premium cover, income return cover, and more. 

Know that your overall term insurance premiums will increase based on the rider benefits you choose. So, only opt for the ones that you think may come in handy.

  • Term insurance provides several tax benefits.

Term insurance, much like any life insurance product, offers several tax benefits. The premiums paid towards the policy can be claimed for tax deduction under Section 80C of the old income tax regime. 

The death benefits received by the beneficiaries is also tax-free under Section 10(10D) of the Income Tax Act, 1961. Additionally, if you have opted for critical illness cover on your term insurance plan, you are eligible for extra deduction under Section 80D of the Income Tax Act.

Knowing the various benefits of the term insurance plan should encourage you to buy the policy, irrespective your lifestyle habits. You can buy term insurance online. Keep reading to know-how.

How Do I Buy Term Insurance Online?

Follow the steps below to purchase term insurance online in India.

  1. Visit the insurer’s website and go to the ‘Term Insurance’ section.
  2. Choose the type of term insurance coverage you need.
  3. Select the rider benefits (if you need any).
  4. Enter personal details as requested.
  5. Review the policy terms and conditions.
  6. Proceed to pay the premium amount online.
  7. Once you successfully pay the premium, the insurer will assess your application and issue the policy shortly.


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