Smoking increases life insurance premium
More than three million non-smokers admit to enjoying the occasional cigarette.
The research carried out by Sainbury's Life Insurance reveals that around 6.5 million life insurance policy holders gave up smoking more than 12 months ago and haven't used nicotine replacement products in the past year - meaning that they can save themselves on average 46 per cent on premiums, being classed as a non-smoker.
David Cook, Sainsbury's Life Insurance Manager said: "It's interesting quite how many Brits regards themselves as non-smokers but are in fact social smokers. We'd urge anyone who finds themselves in this camp to go that extra inch and fully kick their habit."
The research reveals that many so-called non-smokers are indeed 'social smokers' who are tempted into breaking their non-smoking habit with the odd cigarette because they've been drinking alcohol or have seen other friends smoking or are letting their hair down whilst on holiday.
David says: "If someone classes themselves as a non-smoker when taking out a life insurance policy, but in fact is having the occasional cigarette whilst in a social situation or to help combat stress, they need to ask themselves whether their 'non-smoking status' is really valid. To qualify as a non-smoker and to receive cheaper life insurance premiums, someone has to be nicotine-free for 12 months."
The research also indicated that one in five smokers could potenitally reduce their life insurance premiums if they were to give up smoking. Apart from the obvious savings you can make from not buying cigarettes, your life insurance premium could decrease as you are demonstrating that you've made efforts towards living a healthier lifestyle.
Femalefirst Taryn Davies