You are here: Home - Insurance - News -

Smokers pay twice as much for life insurance

Written by:

Smokers could save £2,000 on their life insurance premiums by giving up cigarettes, according to price comparison site Moneysupermarket.

Research from the website found that life insurance premiums for non-smokers are nearly half the price of those for smokers. Life insurance cover of £100,000 for a 35 year-old male smoker, taken out over 25 years, would cost £17.68 a month with Scottish Provident. For a non-smoking man, the premium would be £9.91 a month – a saving of 44% or £2,331, according to Moneysupermarket.

Louise Cuming, head of protection at Moneysupermarket, said: “In order to be classed as a ‘non-smoker’ and qualify for life insurance premium savings, insurers insist smokers have kicked the habit for a full year. The difference in premiums between a smoker and a non-smoker is vast and there are significant additional savings to be made simply by shopping around for the best deal to suit your circumstances.”

Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Homeowners should be vigilant about damage

Homeowners should ensure they are not paying excessive charges for property repairs after last week’s earthquake, the Royal Institution of...