December 14, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
No Smoking Day – 11th March 2009 Patches, gum, microtabs, lozenges, inhalers, nasal sprays and even hypnosis. There are loads of ways to help you quit smoking – but do any of them really work any better than old fashioned cold turkey? It’s national No Smoking Day again, a day when a quarter of the UK population – that’s 12 million smokers – are encouraged to kick their habit. In fact, every year more than a million people quit smoking on No Smoking Day. The campaign will also highlight the benefits of stopping smoking and how to get help. Community pharmacist and Royal Pharmaceutical Spokesperson – Lindsey Gilpin will be giving advice to the millions of smokers who want to quit, explaining some of the quitting aids available to help, and revealing why smoking is such a hard habit to break. For more information or to book an interview contact annette.harada@tvcgroup.com or call 0207 535 5800 Distributed by Tubemogul.
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December 2, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Life Insurance Rocketing Up for Smokers
By: Mark Skinner
About the Author
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
(ArticlesBase SC #422301)
Article Source: http://www.articlesbase.com/ – Life Insurance Rocketing Up for Smokers
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Retrieved from “http://www.articlesbase.com/insurance-articles/life-insurance-rocketing-up-for-smokers-422301.html”
(ArticlesBase SC #422301)
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Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Life Insurance Rocketing Up for Smokers
By: Mark Skinner
About the Author
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
(ArticlesBase SC #422301)
Article Source: http://www.articlesbase.com/ – Life Insurance Rocketing Up for Smokers
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Retrieved from “http://www.articlesbase.com/insurance-articles/life-insurance-rocketing-up-for-smokers-422301.html”
(ArticlesBase SC #422301)
Mark Skinner –
About the Author:
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
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Article Tags:
life insurance, smokers, life insurance premiums
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How Health Factors into Life Insurance Coverage and Cost
Learn how health factors into life insurance coverage and cost in this video with Bob Ley from the AIG insurance company. (00:43)
For What Periods Should You buy Life Insurance for
Learn the periods of time should you buy life insurance for in this video with Bob Ley from the AIG insurance company. (00:21)
Learn about the Most Expensive Type of Life Insurance
Learn about the most expensive type of life insurance in this video with Bob Ley from the AIG insurance company. (00:22)
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Nov 13, 2010
The Direct and Indirect Cost of Bankruptcy
When you make that final decision to file for bankruptcy, it is also the time to consider the cost of bankruptcy. The decision to file for bankruptcy is undoubtedly the last step one would resort to when reeling under financial distress and there are no options available to clear off the economic mess that has engulfed the individual.
By:
Enrique Castillanol
Finance>
Insurancel
Nov 12, 2010
Sub-prime Mortgage Lenders Account for Over Half of UK Repossessions
Over half of the UKâs repossession orders are being brought by sub-prime lenders, according to a BBC report. These lenders cater for borrowers with poor credit histories and account for only 6% of the total mortgage market.
By:
Mark Skinnerl
Finance>
Mortgagel
May 24, 2008
Secured Loans Rise in Popularity as Credit Crunch
The tide is turning for the public perception of secured loans, according to a study carried out by MoneyExpert.com. Traditionally, secured loans were viewed as undesirable due to the necessity of putting up collateral against the loan, which could mean that the borrower lost their property. Now, however, increasingly better rates are making more people re-evaluate the importance of this type of loan.
By:
Mark Skinnerl
Motorists Driving in the Eu Advised to Take Out European Car Insurance
Many British motorists driving in Europe are not nearly as well insured as they assume, according to the Association of British Insurers. The majority of UK insurance policies will cover drivers for the minimum legal requirements whilst in EU countries but eventualities such as accidents, breakdown and theft will not be included, leaving holidaymakers out of pocket and facing a ruined trip.
By:
Mark Skinnerl
Finance>
Insurancel
May 24, 2008
lViews: 267
Millions Losing Out Through Remortgage Confusion
Britons are throwing away millions of pounds a day through ignorance about remortgages, according to a report by Abbey Mortgages. £25 million pounds is being wasted every day because people are paying lendersâ Standard Variable Rates rather than remortgaging their properties. This translates as five million people spending an extra £5 a day.
By:
Mark Skinnerl
Finance>
Mortgagel
May 24, 2008
Many Brits Take Out Personal Loans in Secret
Taking out an unsecured personal loan still carries a social stigma, according to a study by Abbey Loans. A large amount of Britons are taking out loans in secret, as they are too ashamed to admit their financial position to friends and family. Over £7 billion is borrowed in secret each year for a variety of purposes. The most common reason is paying off debts (56%) but 15% take out the loan to make home improvements whilst 7% use it for medical bills and 2% for cosmetic surgery.
By:
Mark Skinnerl
Finance>
Loansl
May 24, 2008
lViews: 242
Loan Leads Firm Introduces Payday Loans as Pawnbrokers Celebrate Profits
Top lead exchange company LeadPoint has launched a âpayday loanâ scheme in the UK following great success with the plan across the Atlantic. The scheme is designed for those on low incomes whose budgets require loans to cover the cost of cheques and other payments. This method could stop households earning between £15,000 and £35,000 per annum from sliding into debt.
By:
Mark Skinnerl
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
By:
Mark Skinnerl
Finance>
Insurancel
May 22, 2008
Hidden Admin Costs Raise Price of Car Insurance
Motorists are being hit by large âsneakâ fees for small administrative tasks on their car insurance policies, according to a study by Uswitch.com. 14 million drivers are paying out further costs to their insurers, even when there is no change to the amount of their premiums, simply for minor paperwork changes. The website estimates that this practice earns insurers £330 million per year.
By:
Mark Skinnerl
Finance>
Insurancel
May 22, 2008
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Filed under National No Smoking Day
November 6, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
No Smoking Day – 11th March 2009 Patches, gum, microtabs, lozenges, inhalers, nasal sprays and even hypnosis. There are loads of ways to help you quit smoking – but do any of them really work any better than old fashioned cold turkey? It’s national No Smoking Day again, a day when a quarter of the UK population – that’s 12 million smokers – are encouraged to kick their habit. In fact, every year more than a million people quit smoking on No Smoking Day. The campaign will also highlight the benefits of stopping smoking and how to get help. Community pharmacist and Royal Pharmaceutical Spokesperson – Lindsey Gilpin will be giving advice to the millions of smokers who want to quit, explaining some of the quitting aids available to help, and revealing why smoking is such a hard habit to break. For more information or to book an interview contact annette.harada@tvcgroup.com or call 0207 535 5800 Distributed by Tubemogul.
Video Rating: 5 / 5
Filed under National No Smoking Day
October 27, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Find More National No Smoking Day Articles
Filed under National No Smoking Day
October 21, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Related National No Smoking Day Articles
Filed under National No Smoking Day
September 30, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Related National No Smoking Day Articles
Filed under National No Smoking Day
September 13, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Filed under National No Smoking Day
September 11, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Filed under National No Smoking Day