Big insurance savings for non-smokers

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Giving up smoking could lead to a substantial reduction in the cost of your life insurance, according to a new report.

Figures released from insuresupermarket.com show that life insurance premiums can fall by as much as 56 per cent once people have been smoke free for over a year.

The savings could work out at as much as £71.76 a year and £1,435.20 over 20 years.

Peter Gerrard, senior researcher at insuresupermarket, commented: "Insurers tend to insist that to be a non-smoker, you have to have given up at least 12 months ago, so if you quit on No Smoking Day 2005, you should definitely check your life insurance as you may be in for a pleasant surprise."

Mr Gerrard added that by shopping around non-smokers can save themselves a greater amount as premiums do vary substantially.

"Premiums for life insurance have also reduced for non-smokers by 12 per cent since 2004," he said.



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