Non-Smokers Get Cheaper Critical Illness Cover
For example, a 40-year-old male smoker will have to pay around £95 a month for critical illness cover, while his non-smoking counterpart will only have to fork out around £50 a month for the same policy.
Younger smokers are at a disadvantage too. This is demonstrated by the fact that a 25-year-old woman will have to pay around £8 a month for life insurance if she doesn’t smoke, while if she is a smoker the price increases to nearer £12.
A spokesperson from a UK online insurer commented, "Smokers who declare they have given up but continue to smoke, no matter how infrequently, will be paying for nothing should they die from a smoking related condition.
"The policy simply won’t pay out and their beneficiaries will be the losers.
"Smokers will pay twice the price for critical illness cover than a non-smoker – it’s a no win situation for the smoker, their nicotine addiction is tightening both their heart and purse strings"
Smokers can get help quitting at www.quit.org.uk.