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Quitting smoking could reduce life insurance premiums

Date: Thu, 04 May 2006

Smokers could save more than £1,400 on life insurance premiums if they quit, according to new research.

The insurance website, insuresupermarket, estimates that stopping smoking could have financial as well as health benefits for many people.

Those who have given up cigarettes in 2004 have potentially seen their life insurance premiums fall by as much as 56 per cent every month, meaning the average 35-year-old male ex-smoker could have saved as much as £1,435.20 within two decades.

Peter Gerrard from insuresupermarkt explained that many providers insist that smokers have given up for at least a year before they qualify for the lower priced cover and the forthcoming smoking ban could provide an ideal target for those who want to save money as well as improve their general wellbeing.

"As if you quit now, by next spring you will have accumulated 12 months no-smoking, allowing you to reduce your life insurance policy cost in time for the national ban," said Mr Gerrard.


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