LifeNow

Smoking and Life Insurance

There often seems to be discussion in the press about smoking and the financial implications it can bring. For example the cost to businesses affected by the recent smoking bans in Ireland and Scotland. Or the cost to the NHS when treating smoking related businesses. And even the decrease in the value of an annuity pension if you are a non-smoker - because you are expected to live longer, your pension is likely to be lower. But when it comes to life insurance there is no doubt that being a non-smoker gives you a serious advantage, besides the obvious health benefit. Because smoking has such a marked affect on health, insurers rate smokers as more likely claimants against a policy and will therefore charge significantly more. So help yourself to a healthier life and lower insurance premiums by stopping smoking as soon as you can.

Non Smokers pay around 50% less than smokers for life insurance

As an ex-smoker, if you have not smoked for more than 5 years you would normally qualify for non-smoker rates.

Some companies differ on this rule, so it is wise to get a range of quotes.

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