Quitting smoking could save up to £18,000 in premiums

A smoker aged 50 would pay nearly triple per month what a non-smoker of the same age would have to pay for the same sum assured, £33.94 compared to £94.07. Quitting smoking would save them £18,039 over a 25 year term. Younger smokers could also make significant savings on their premium by kicking the habit (see table below). Non-smokers could be eligible for lower rate premiums if they have not smoked tobacco or used any nicotine replacement products including e-cigarettes for 12 months. According to the ONS in 2018, 61% of the British population aged 16 and above who have ever smo...