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A severe health crisis can be daunting, both financially and emotionally. As a smoker, the risk is even greater because of the threat of serious illnesses. Smoking does pose risks, but that should not leave you vulnerable. An appropriate health insurance policy with critical illness insurance can act as a lifesaver by ensuring financial security in times of need.
With medical expenses going through the roof, investing in medical insurance plans is not only a precaution, it's a requirement. But are smokers treated on par with non-smokers? Let's examine why critical illness insurance is necessary for smokers and how to determine the best health insurance company for your requirements.
Critical illness insurance pays a lump sum when the policyholder is diagnosed with a severe disease such as cancer, heart attack, or stroke. The coverage is important because treating these diseases is costly. In contrast to a normal health insurance policy that pays for hospitalisation, critical illness insurance gives financial assistance that can be applied to medical expenses, changes in lifestyle, or even lost wages.
Smokers are much more likely to die from life-threatening illnesses like:
Chronic obstructive pulmonary disease (COPD)
Heart disease
Stroke
As these conditions may require considerable treatment and lengthy care, getting an all-rounded health insurance policy with critical illness insurance can assuage one from the huge costs. Critical illness hospital stays, surgeries, medications, and rehabilitation could be exorbitant, and in the absence of adequate protection, they result in extreme economic hardship.
In addition, smokers can expect longer periods of recovery because of the effect of tobacco on the healing process of the body. A critical illness policy can guarantee they have sufficient money to pay for good quality healthcare and undertake necessary lifestyle adjustments to enhance their well-being.
Most medical insurance policies classify smoking as a high-risk factor, and hence, the premiums are higher. But the cover they provide is priceless in case of a medical emergency. In certain situations, insurers also provide wellness programmes and incentives that motivate policyholders to give up smoking, which is a win-win for smokers who want to get healthier while getting financial coverage
Before an insurance company issues a health policy, they consider various risk factors, including smoking. Since most chronic and fatal diseases have direct associations with smoking, the insurer pays more premiums to cover the increased risk of claims. Some of the Influential factors are:
The longer you’ve been a smoker, the higher the risk insurers associate with your health. Older smokers may face significantly higher premiums due to cumulative health risks.
Occasional smokers may receive slightly lower premiums compared to heavy smokers, but they are still considered high-risk individuals. Some insurers classify users of e-cigarettes and tobacco alternatives separately, which may impact pricing.
If the smoker has a pre-existing illness associated with smoking, say hypertension, diabetes, or shortness of breath, the premiums can increase even further. Some of these might even result in exclusions of cover, so it is important to select an insurer that provides cover on a comprehensive basis.
Most insurers ask smokers to take medical tests before considering policy types and rates. They could include lung function tests, cholesterol counts, and other markers of health to ascertain overall risk.
Larger sets of critical illnesses will, by default, have larger premiums. Yet the policies entail comprehensive financial cover that will prove drastically important in the long term.
Although the insurance policy for smokers is costlier, there are ways through which one can reduce the costs by selecting the most appropriate health insurance company. Certain companies provide special medical insurance plans that only cater to smokers and enable them to obtain proper coverage at a lesser cost. Quitting smoking also saves money in the long run since insurance companies reward customers for remaining smoke-free for a certain duration.
The best health insurance company to select as a smoker is one that should be carefully chosen. As smoking is considered a high-risk factor, not all insurance companies provide the same amount of coverage or at the same price. The following are some of the most important considerations when selecting an insurance company:
Opt for coverages that contain critical illness coverage, hospital coverage, and preventative care packages with smoker-specific choices. Some carriers might leave certain smoking-related illnesses out of their cover, so you must thoroughly read the policy to guarantee comprehensive protection.
Although smokers typically pay more because of higher health risks, certain insurers provide reduced premiums for policyholders who take up smoking cessation programs or show better health after a period. It is sensible to compare prices among several insurers to identify the most affordable choice without sacrificing coverage.
Choose an insurer with transparent medical evaluation processes. Some companies conduct extensive medical tests before finalising the policy, while others may offer policies with minimal assessments but higher premiums. Understanding these policies can help avoid unexpected exclusions or surcharges.
An insurer's good claim settlement ratio reflects its commitment to paying out claims. Research the insurer's history and customer reviews to ensure that they settle claims quickly, particularly for smoking-related critical illnesses.
Most insurers today provide wellness programs that encourage smokers to become healthier. These can be smoking cessation assistance, individual health coaching, routine check-ups, and incentives for healthier lifestyles. Choosing a policy that encourages wellness can pay off in the long term.
Critical illness coverage is essential for smokers because the risk of having serious medical problems is greater. Though it will cost more to pay, this protection against costly medical issues will be worth much more in crises. Choosing the correct health protection policy can guarantee proper medical treatment, avoid financial pressure, and even bring about rewards through healthy lifestyle enhancements. Smokers must scrutinise their options thoroughly and opt for the best health insurance firm offering inclusive medical insurance plans based on their requirements.
One of the best health insurance companies for individuals seeking assured coverage is Niva Bupa. It has specialised health insurance plans aimed at supporting high-risk customers, such as smokers. Their plans have comprehensive critical illness coverage, bringing financial security and assurance. With an investment in the appropriate plan, smokers can protect their future while moving towards a healthier lifestyle.
