Sainsbury’s urges ex-smokers to review their life insurance
17 January 2006
Over the past five years, some 6.78 million people have given up smoking, but according to recent life assurance research by Sainsbury’s Bank, only 26% have informed their life insurance company. The bank estimates that there are up to 2.2 million ex-smokers who may be wasting at least £126.72 million a year because they have not reviewed their life insurance requirements to reflect their new non-smoker status. Moving forward, the potential savings could be even higher because 6.1 million people plan to give up smoking during 2006.

David Pickett, Life Insurance Manager, Sainsbury’s Bank said: "Since December 2004, as many as two million people have given up smoking. The health benefits of giving up are well known, and with a packet of cigarettes now costing over £5, the financial savings can also be substantial. However, once you’ve successfully quit, you could also make a saving in your annual life insurance premiums if you review your requirements."

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