Quit smoking to save your health and money

Category: Life insurance
Date: 3/9/2010

Smokers attempting to kick the habit to improve their health have been told they could also look forward to cheaper life insurance.

New research from Aviva found two thirds of smokers want to give up, some of whom could take their first step on No Smoking Day (Wednesday 10 March).

Although smoker numbers have decreased in the last year, one in seven of the insurer's customers still admitted to the vice, and therefore pay more for their life insurance premiums than non-smokers.

However, it is not only the people who have never touched a cigarette who could benefit from lower life insurance cover: anyone who quits smoking for a year is classed as a non-smoker and will receive the same lower premiums.

"We want to encourage people to think about the effect of smoking, not only on themselves but also on the people they care about," said Louise Colley, head of protection at the insurer.

"Smoking is a danger to people's health, that's why it costs less for non-smokers to buy life insurance and critical illness policies.

"Life insurance companies offer the opportunity for financial security and peace of mind financially for loved ones, but it doesn't protect customer's health. Quitting smoking is a crucial step for people to protect themselves."

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