People who drink, smoke and are overweight should not be deterred from seeking critical illness (CI)...
People who drink, smoke and are overweight should not be deterred from seeking critical illness (CI) and life insurance cover, according to Scottish Equitable Protect.
The provider is campaigning to encourage IFAs to promote CI and life insurance cover to clients who may not think they can get cover as they consider themselves unhealthy, as the cost is often less than expected.
Heather Armstrong, marketing manager at Scottish Equitable Protect, said: 'Many people drinking, smoking or eating what they might consider 'too much' may shy away from CI or life cover, for fear of being unduly penalised for their bad habits. However, IFAs are ideally placed to emphasise to their clients the need for financial protection, and that this cover will cost far less than they think.'
The latest Government statistics have revealed there is an increasing trend for both men and women to lead what are considered to be 'unhealthy' lives. 38% of men and 21% of women drink more than the recommended number of alcohol units per week, and the amount of adults classed as obese has doubled in the last 15 years with 46% of men and 32% of women classed as overweight.
The percentage of smokers has now reached a plateau with 28% of men and 26% of women currently smoking an average of 16 and 13 cigarettes a day respectively.
However, Matt Rann, head of underwriting at Scottish Equitable Protect, said smokers are not penalised strongly until they are classed as heavy smokers.
'It is true that smoking at any level significantly increases your exposure to lung and heart disease, but smokers are not additionally penalised until they hit the 40-a-day level, at which point you could easily see your premiums double.'
