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Life insurance: stop smoking - and save

By Daniel Culpan

8 March2021

2021 marks the fifth anniversary of the smoking ban, and with National No Smoking Day (14th March) also fast approaching, recent research from MoneySupermarket.com has revealed that smokers who stub out cigarettes for good could save an average of 5,490 on combined critical illness cover and life cover.

The comparison website also found that smokers who kick the habit could save up to 1,788 on a single life insurance policy.

So, along with the obvious health benefits, quitting smoking can also have a very positive impact on your wealth. With a packet of 20 cigarettes costing, on average, 6.95, the decision to give up could save smokers an additional 1,880 a year - a substantial saving that could be all the more appealing in these cash-strapped times.

Emma Walker, MoneySupermarket's head of protection, said: "Not only can smokers reap the medical benefits of kicking the habit, but they can avoid letting their hard-earned cash go up in smoke too. With significant savings to be made, those who make the decision to quit should shop around for the best insurance deal to suit their circumstances."

Tags: smoking, life insurance, insurance, critical illness

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