Life Insurance

A life insurance company has once again stressed the benefits of quitting smoking when it comes to renewing your policy.

Cavendish Online reiterate that apart from the obvious health benefits, a non smoker would virtually ensure vastly reduced insurance premiums and for any existing customers who have quit the nicotine, they could also benefit from their new healthier lifestyle.

Statistics have shown an average customer could save almost £9,000 over term on a £150,000 cover if they were smoke free.

Emma Walker, head of protection at moneysupermarket.com commented: "In today's climate where every penny counts, it's clear to see there are both financial and medical benefits to stubbing out cigarettes for good."

She added: "It's crucial smokers seriously consider both the medical and financial benefits of quitting, instead of letting their hard-earned cash go up in smoke. With considerable savings to be made, smokers will hopefully find the will power to permanently kick the habit, benefiting their health and their wallets."

Cavendish broker Ian Williams was reported as commenting: "This year, people will need to save money wherever they can, and rebroking your life assurance policy could save you thousands of pounds. If you have managed to go twelve months without smoking, then switching your life assurance will be relatively painless by comparison."