Non-smokers 'will see financial benefits'

Wed 11 Mar 2009 - Published in Life Insurance

People who give up smoking could see their monthly life insurance premiums cut by almost half, it has been claimed.

According to financial services provider Norwich Union, a 45-year-old man with reviewable critical illness cover would pay Ł306.60 less than a smoker.

Louise Colley, head of protection at the group, commented: "People who smoke have an increased risk of heart disease, breathing disorders and certain cancers, to name but a few illnesses, which is why non-smokers often pay significantly less for life insurance and critical illness policies."

She added that those who give up cigarettes will make a double saving as they will no longer have to spend over Ł5 on every pack they smoke.

The company went on to say individuals have to avoid tobacco products for 12 months before they are considered non-smokers.

Last week, cover provider LifeSearch suggested that too few young people are purchasing life insurance.

News Categories

News Archive

News: Non-smokers 'will see financial benefits'