By giving up the habit, smokers could drastically reduce their life insurance premiums says Moneysupermarket.com. They claim that there is a potential saving of over £2,000 on their life insurance if they quit.
According the to the price comparison website, life insurance premiums of non-smokers cost nearly half those of smokers. However, in order to benefit from lower premiums, smokers must prove that they have completely given up smoking.
Louise Cuming, head of protection at moneysupermarket.com, explained: "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."
The site would recommend that anyone wanting to replace a policy should look around to find the best deal before arranging a new insurance plan.
Quit smoking and lower your life insurance premiums
Thu, 13 Mar 2008
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