Ex-smokers could save thousands on insurance
11 March 2009
Ex-smokers could save thousands on insurance
Giving up the habit could save smokers thousands on their insurance, a price comparison site has claimed.
According to Moneysupermarket, a 30-year-old man looking for £150,000 worth of cover over the next 25 years could save almost £8,500 on combined Critical Illness Cover (CIC) and life insurance cover - not to mention the money he`d save on the actual cigarettes themselves.
As the site points out, ex-smokers must have stopped for a full year in order to be classed as non-smokers and qualify for life insurance premium savings.
It seems `single life` cover is also cheaper for those who have managed to kick the habit. Apparently men and women could save an average of £1,725 and £1,312 respectively on £150,000 worth of insurance cover over 25 years.
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