Smokers may pay up to £16,000 more in life insurance premiums

No Smoking Day

John Brazier
clock • 1 min read
Smokers may pay up to £16,000 more in life insurance premiums

Research from Royal London, published to coincide with No Smoking Day (9 March), shows smokers can save £16,000 on premiums for life insurance by kicking the habit.

The insurer stated that 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 Royal London research, a smoker aged 50 would pay nearly triple every month what a non-smoker of the same age would have to pay for the same sum assure - £29.13 compared to £82.48, based on level single life cover, over a 25-year term for £150,000 sum assured. In the example, savings c...

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