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Newsletter

Cigarette quitters can improve life insurance cover

By Jonathan Dawes, Mon 28 Feb 2011 - Published in Insurance

Research from moneysupermarket.com reveals that smokers kicking the habit can improve their health and wealth while saving money on life insurance.

The study highlighted that those stubbing out saved on average £6,659 on combined critical illness cover or up to £1,571 on a single life insurance policy.

The head of protection at moneysupermarket.com, Emma Walker, said: "Not only can smokers reap the medical benefits by kicking the habit, but they can avoid letting their hard-earned cash go up in smoke too."

Furthermore, with the average pack of 20 cigarettes costing £6.42, the report found a smoker could save £1,846 a year, if they decided to quit.

Recently, the NHS has been offering smokers free help to those wanting to pack the habit in, ahead of No Smoking Day on March 9th.

Ms Walker added for those thinking of quitting that insurers will need smokers to have kicked the habit for a full year to be classed as a non-smoker and qualify for reduced life insurance premiums.