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Insurance query: I want to know whether smoking and drinking are major clauses in a term insurance or not

The article from Business Today discusses the impact of smoking and drinking on term insurance policies. It explains that while these habits are not explicitly listed as major clauses, they significantly influence the premiums and terms of coverage. Smokers and heavy drinkers are often categorized as high-risk clients, leading to higher premiums due to the increased likelihood of health issues. Insurers may require a detailed health questionnaire or medical tests to assess the applicant's lifestyle, and any misrepresentation can lead to claim rejections. The article also notes that some insurers offer incentives for quitting smoking or reducing alcohol consumption, potentially lowering premiums over time. However, the primary focus remains on the increased risk these habits pose, affecting both the cost and the underwriting process of term insurance.

Read the Full Business Today Article at:
[ https://www.businesstoday.in/personal-finance/insurance/story/insurance-query-i-want-to-know-whether-smoking-and-drinking-are-major-clauses-in-a-term-insurance-or-not-457249-2024-12-13 ]