One in 10 people lie to insurers about their smoking or drinking habits

ONE IN 10 middle-aged people are more likely to lie to get cheaper life insurance, a survey reveals. 

A survey by insurance company, Peopl, has revealed that 11% of 45 to 54 year olds have under-declared their smoking or drinking to get cheaper life or serious illness cover.

This is in comparison to that of their younger counterparts, with just 3% of those aged over 55 lying about their smoking or drinking habits and 2% of those aged between 18 and 24.

Overall, 7% of people have been ‘economical with the truth’ to secure cheaper premiums, with men being more likely than women to do so.

Advising against being untruthful, Chief Executive of Peopl Insurance, Paul Walsh, said: “The numbers aren’t huge, but there is definitely a cohort of people who knowingly do not declare, or underestimate, their smoking and/or drink levels to get cheaper cover.

“While not altogether surprising, it is ill-advised at best, as an insurer can investigate any claim made and if it discovers, for example, that a policyholder was smoking while paying the lower premiums of a non-smoker, it can refuse the claim.

“This could see a family lose out on a valuable and much-needed lump sum on the death of a loved one.”

A seperate poll by the same insurer, Peopl, also found that women were four times as likely as men to be refused life cover due to health issues.

The poll surveyed 1,000 adults nationwide and found that 10% of women have struggled to get life or serious illness insurance due to a health issue, compared to that of their male counterparts, at 2.5%.

One in five people have never looked to get life or serious illness insurance.