Smoker Life Insurances Costs ££

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Smoking + Life Insurance - Not only bad for your health, it's bad for your pocket.

With smoking in all public places set to be banned from summer 2007, stopping the evil weed could save you a fortune. The average UK smoker could spend around £100,000 on cigarettes in a lifetime. On a yearly basis that breaks down to £1,800 spent on tobacco.         

So, there are other financial rewards to be reaped for those prepared to kick the habit. The health benefits of giving up smoking are not just obvious to quitters, but also to Life Insurance Companies. Smokers life insurance rate costs more - in some cases almost 2 x as much as their non-smoking colleagues. A non - smoker life insurance rate will, on average, be 30%-55% less than that of someone who smokes, which can amount to a substantial saving.

       "  Life Insurance for Pipe & Cigar Smokers 
                                 Some Life Insurers classify this as non-smoking "

There are some more specialist Uk Life Insurance Companies who classify cigar smokers, pipe smoking or pipe tobacco for insurance purposes as a non-smoker still. This is important because it could save you money on your premiums. However, do not assume this applies to all insurers. Please contact us - for help.

You must remember to tell your Life Insurance Provider if you have given up smoking. "However, once you've successfully quit, you could also make a saving in your annual life insurance premiums if you review your requirements." Other insurance products where smoking makes a difference to your premiums include critical illness cover, which pays out on diagnosis on specified conditions; PHI income replacement; and, occasionally, private medical insurance.

Most Uk Insurers say "To qualify for Non-Smoker Life Assurance Rates
you need to have given up smoking + nicotine products for 12 months"            

Those who give up smoking may not always see an immediate benefit in premiums. To most insurers, only someone who does not use any nicotine products, including gum or patches - and who has not smoked or used these items for at least 12 months - will be classed a non-smoker. This allows firms to distinguish between those who have never used cigarettes, roll ups etc; or those who stopped a long time ago, recent quitters, and light to heavy smokers.

Smoker Life Insurances - Cost how much more !!   

A 30-year-old male smoker, for example, could pay £20 a month for £200,000 of life cover over 20 years. But if he is a non-smoker the monthly premium drops to around £13 - a saving of £7pm [35%] or £1680 over 20 years! By the same token, a 40-year-old smoker for £200,000 of life cover over 20 years could pay £45 a month dropping to £24pm if he quits - a saving of £21pm [47%] or £5040 over 20 years!

If you are a long-term smoker, on average your life expectancy is about 8-12 years less than a non-smoker

Put another way, in the UK on average about 8 in 10 non-smokers live past the age of 70, but only about half of long-term smokers live past 70.

"Stop smoking now may prolong your life - Help avoid claiming early on your Lifecover"

For further help and information

Quit - a charity that helps people to stop smoking. Quitline: 0800 00 22 00  Web: www.quit.org.uk

NHS smoking helpline: 0800 169 0 169 and website www.givingupsmoking.co.uk

Smoker Insurance