From plans to claim settlement: Answers to your insurance-related queries

Ulip is a product which combines the benefits of investment and protection

I am a smoker and intend to buy a term plan. I plan to quit smoking soon. Is it okay if I declare myself as a non-smoker when purchasing the policy?

Typically, an applicant of a term plan is required to have refrained from smoking cigarettes for at least 12 months to qualify as a non-smoker. But life insurance companies approach the issue a little differently. Most companies have more than one category for non-smokers. If you are a smoker, you should not provide misleading information to the insurer about your smoking habit in the insurance proposal form. If the insurer