As the annual No-Smoking Day approaches, people who are set to quit the habit could look to save significantly on their
life insurance premiums, LifeSearch reveals.
Insurance companies consider ex-smokers to be non-smokers after one year of quitting, so many who gave up on the last national no-smoking day will be looking forward to a drop in their premiums soon as they are reclassified.
Being classed as a non-smoker can make
life insurance premiums up to 50 per cent less expensive, the firm reports.
Matt Morris, Policy Adviser at Lifesearch, advised non-smokers to "speak to an adviser to see if they can re-broke a new policy for you", adding that while a cheaper health insurance quote is not certain, "there is a very good chance that the premium will fall".
The No Smoking Day organisers offer practical advice for those who plan to quit next month, with a course tailored to those with varying nicotine dependencies.
InsureandGo offers competitive
life insurance policies for varying levels of cover.