Quit Smoking: Save GBP12 500 on Insurance
Published / Last Updated on 13/04/2008
Quit Smoking: Save £12,500 on Insurance
Prudential says smokers could save over £12,500 on life and serious illness insurance premiums by giving up smoking. People who quit smoking could get up to 50 per cent off their premiums, added to the savings they would make by not buying cigarettes, it would be equivalent to getting a 9.5 per cent pay rise.
A male smoker aged 40 would pay £107.54 a month in premiums for life insurance with critical-illness cover based on £100,000 of cover over a 25-year period. Compared with a male non-smoker of the same age who would pay £65.65, representing a total saving of £12,567 over the term.
Our view
We all know the health benefits when you quit smoking, now you know the financial benefits when you quit smoking.
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