Did you quit smoking last year? If so, congratulations… If you haven’t had a puff in the last 12 months then you now qualify as a non-smoker for the purposes of getting life insurance. This is a bigger deal than it may appear at first, because it means you can make terrific savings on something that is genuinely worthwhile.
Cash up in smoke
It should come as no surprise that life insurance is more expensive for smokers. What may surprise you though is exactly the kind of figures we’re talking about. Check out this savings table to see what we mean*:
Extra cost of life insurance for a smoker
| Age | Smoker/Non-smoker | Monthly Premium | Extra cost for smokers over the life of a policy |
|---|
| 28 |
Smoker |
£5.06 |
£13.68 |
| 28 |
Non-Smoker |
£5.00 |
|
| 38 |
Smoker |
£9.43 |
£870.96 |
| 38 |
Non Smoker |
£5.61 |
|
| 48 |
Smoker |
£23.70 |
£2827.20 |
| 48 |
Non Smoker |
£11.30 |
|
Let’s put this into a bit more perspective. In times of recession, those in their late forties could be paying extra thousands needlessly on their insurance. And that’s before you’ve even taken the cost of the cigarettes themselves into consideration.
And while we’re on the topic, how much do cigarettes cost? Well, if you smoke twenty a day and pay about a fiver a pack (quite a generous underestimation), then we’re talking over £1,800 a year. Ouch!
No Smoking Day estimate that over a million people want to quit smoking in the UK each year as a result of their initiative. And there are bound to be plenty more who may not have voiced this desire.
If you’re one of those thinking of quitting, then why not put a little of the money saved towards protecting your family. Our premiums begin at £5, and that’s a monthly price. So the saving from quitting cigarettes for a day could mean cover for your family for a month. Trading in one packet of fags in return for one month’s protection should the worst happen really should be a no-brainer.
We go to twelve life insurance providers to get you the most competitive price we can.
So do yourself and your loved ones a favour and ditch the smokes. Then take a little of the change and cover yourself with life insurance. Then the lion’s share of the remaining change could be put towards something brilliant, like a holiday for your family.
Surely a better investment than a pack of fags?
*Prices correct on 05.03.09. Male, sum assured £50,000 for 20 years of cover.
