Research from the Continuous Mortality Investigation, which is part of the Actuarial Profession, has found that the difference in mortality between smokers and non-smokers is greater than the gap between men and women in almost every age band. A 30-year-old male non-smoker can expect to live, on average, until he is over 82, while the equivalent age for a female non-smoker is 86. If the man smokes, he can expect to live five and a half years less, to an average age of 76.8. If a woman smokes, she can expect to live around 6.8 years less, to an age of around 79.
The CMI has been producing these tables since 1925, based on death rates of those insured by major life companies, and believe that they provide the most accurate guide to the UK’s smoker mortality rates.
Our view
Smoking is a personal choice and we are not going to offer a view either way. We have both smokers and non-smokers in our offices, much the same as many others. People who smoke know the risks. If you smoke, you risk dying early. You pay more for life insurance and other protection contracts.
However, you normally get a bigger starting pension as your pension company does not expect you to live as long! These are known as impaired life annuities.
Pensions Law is about to change. You need to take action now - as it affects us all - both smokers and non-smokers. Urgent - Take A Look At Our Pension MOT Offer.