Lower premiums for non-smoking life insurance customers

Thu, 20 Mar 2008

For those that don’t smoke, lower life insurance premiums are going to stand alongside better health as a benefit, according to a recent Norwich Union report. Smokers, conversely, will continue to pay higher and higher life insurance premiums .

A spokeswoman for Norwich Union, one of the largest life insurance companies in the UK, said that insurance companies always take smoking habits into account when choosing how to price life insurance premiums .

Sarah Horner, speaking on behalf of Norwich Union, reportedly commented: "A non-smoker can pay around half the premium as their smoker counterpart. At Norwich Union we ask that people have been free from using tobacco products for 12 months or more before they are classed as non-smokers."

Horner was reported as concluding: "It is probably too early to tell the full impact of the smoking ban, but the savings for non-smokers can be significant, so it is quite possible that in July we may see people requesting fresh quotes for their policies as non-smokers."
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