No Smoking Day could help lighten life insurance premiums

With over 1 million people planning to quit on No Smoking Day this week (Wednesday 11th March), Norwich Union, soon to be Aviva, advises that people could get dramatically lower life insurance premiums by giving up the so called "evil weed".

By kicking the habit and applying for life cover as non-smokers, people could see monthly premiums cut by up to almost half. For some this could men life cover for little more than the cost of a packet of 20 cigarettes.

Although the insurer is keen to warn that this won't happen overnight. Individuals will have to steer clear from tobacco products for a full 12 months before being classed as non-smokers.

For those who do manage to quit, however, the savings can be substantial.

Louise Colley, head of protection at Norwich Union, says "People stand to make a double saving if they give up their smoking habit; as well as not spending more than £5 on every pack of 20 cigarettes (which for a 20-a-day smoker, could add up to more than £1,825 a year) people could save by cutting the price of their protection products too.

"People who smoke have an increased risk of hear disease, breathing disorders and certain cancers, to name but a few illnesses, which is why non-smokers often pay significantly less for life insurance and critical illness policies. So bearing in mind both the health and the monetary benefits, No Smoking Day could be the perfect day to stop."