Ex-smokers see financial benefit
January 30, 2007 by admin
Filed under News, News-Insurance
For many people the New Year brought with it a resolution to give up smoking.
The health benefits of kicking the habit are well known and well publicised, but Sainsbury’s Bank says few people consider the financial advantages.
Aside from saving money by not buying cigarettes, ex-smokers could find that they save as much as 48 per cent when they take out a life insurance policy.
Sainsbury’s says that in order to benefit from the reduction when taking out a policy with the bank, a customer must have remained smoke-free for a minimum 12 months.
“If you gave up smoking last New Year and haven’t yet taken out life insurance, now is the time to shop around for a good deal on a policy. If you haven’t smoked for 12 months then you will qualify as a non-smoker,” said Claire Moyles, life insurance manager at Sainsbury’s Bank.
“Our research shows that when the ban on smoking in public places is introduced into England and Wales later this year, 1.44 million people plan to give up smoking.”
Sainsbury’s has calculated that around 740,000 Britons have managed to stick to their 2006 New Year’s resolution to quit smoking.
