Giving up smoking can have life insurance benefits, expert confirms

Thu, 08 Mar 2007

Smokers across the UK have been reminded about the potential life insurance savings to be had if they successfully kick the habit.

On July 1st 2007, it will become illegal in England to smoke in public places - following on from similar bans in Scotland, Wales and Northern Ireland.

It is widely expected that the legislative change could encourage many social smokers to give up cigarettes altogether.

Now, life insurance specialist LifeSearch has pointed out that people who do not smoke for at least 12 months are typically reclassified as non-smokers, which could help them to cut up to 50 per cent off their life insurance rates.

"Everyone realises the potential health benefits of giving up smoking and most appreciate the direct financial saving but not many people realise how much they could save on their life insurance as well," remarked Kevin Carr, head of protection strategy at the life insurance provider.

Research has indicated that smoking can increase the risk of ailments such as lung cancer, emphysema and bronchitis.

As a result, life insurance companies typically demand higher insurance premiums for smokers than non-smokers.

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