Hello Basu Sir,
Presently I am a non-smoker, and I want to take an online term insurance(non-smoker). However, in future if I start to smoke, will I have to inform this to the company? If yes, is there an option to convert the same policy to a smoker one?? Or will I have to surrender this policy and take up a fresh policy at that time?
Anil-Usually insurance companies collect data while issuing policy especially related to health, finance, family history, job profile or existing policy details. But there is no such condition from any of insurer that you must be in same position of health, finance and profession during the policy term.
In case of finance, policyholders income may came down or be zero after issuing the policy, he may start habit which may harm his life or start a job which involves risk.
Hence, there is no such process to convert non-smoker term insurance to smoker term insurance or vice versa. But to be at safer side, you can write to health insurance company about this. Apart from this, nothing can be done at your end.