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Social smokers also face hikes in life insurance

Date: Thu, 23 Feb 2006

Social smokers could find themselves facing higher life insurance premiums.

The recent decision to ban smoking in key public places is likely to increase pressure for smokers to quit for health reasons but there also could be a number of financial benefits to stopping.

It is estimated that smokers could be paying around £100 more for life insurance premiums, even if they regard themselves as an occasional or social smoker.

"A smoker applying for life assurance will find themselves facing almost double the premium of a non-smoker," said Moneynet chief executive Richard Brown.

"Add that to the price of the cigarettes and the cost of smoking plainly threatens your wealth–not just your health."

An average smoking couple in their 40s could be forced to pay a premium of £213.30 compared to a non-smoking couple only having to pay £112.50.

Smokers are also being advised to make sure there are upfront about their smoking habits even if they only like to enjoy the occasional cigarette as insurance companies could refuse to pay out.


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Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.