Quitting could save life, and save on life insurance

Tue, 25 Mar 2008

According to a recent claim from one life insurance industry expert, quitting smoking could lead to a great saving on life insurance premiums . However, it is important that those who once were smokers and then kick the habit know what exactly constitutes being smoke-free in the eyes of a life insurance company .

A spokesperson for Norwich Union, Sarah Horner, made it clear that those people who cut down on cigarettes could see their premiums fall sharply. Horner was reported as commenting: "For certain people, a non-smoker can pay around half the premium as their smoker counterpart. It's perhaps unlikely life insurance savings will be the only reason to quit, but they can certainly be an added incentive."

In the case of Norwich Union, smokers have to have ceased their habit for over 12 months to be eligible as a non-smoker for life insurance purposes. With the smoking ban now in affect for over six months, with the one year anniversary due in July, more and more policyholders could be ticking the non-smoking box.

The health benefits of quitting smoking hardly need to be mentioned, but smoking does lead to a greatly increased risk of lung cancer and death.
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