Life Assurance for Smokers

Smoking is hazardous for your health, there is little doubt about that, but have you considered that it is also hazardous to your wallet from a Life Assurance point of view?

As well as the cost of tobacco rising (Up 2% in the 2009 Budget – Source: Chancellor's Budget Speech – April 2009) the price you could pay for your Life Assurance premiums is typically double that of you non-smoking counterparts.

Case Study:

Two twin brothers, Martin and John are each looking for Life Assurance cover which would pay their young families £200,000 if they died. The cover should last 25 years and both brothers are currently 25 years old.

Martin, the younger of our brothers by 6 minutes, is a smoker whereas John is not a smoker.


  • Martin (Smoker)
  • 25 Years Old
  • Cover: £200,000 over 25 years
  • Monthly Premium: £15.29
  • Total Premium over 25 years: £4587



  • John (Smoker)
  • 25 Years Old
  • Cover: £200,000 over 25 years
  • Monthly Premium: £9.77
  • Total Premium over 25 years: £2931


Over the term of the policy, John will pay £1656 less than his smoking brother.

This case study doesn't take into account any medical conditions the brothers may be suffering but a similar situation is true if for example both suffered from asthma.

For John, asthma would have little to no effect on his life assurance premiums but for Martin, as an asthmatic smoker, he can expect another increase in his monthly premiums!

So are you doomed to pay higher premiums for the rest of your policy term? Well the simple answer is yes (unless the insurance companies suddenly start considering smoking as non-hazardous) but there is a way out. A way that would suit your pocket, your health and keep your doctor happy. Give up smoking!

If you give up smoking, after 12 months your insurance company will consider you as a non-smoker and lower your premiums onto the non-smoker rates. An instant saving of £5.52 per month for Martin and much much more over the term of his policy.

Giving up smoking is important not least to your health but also to your pocket, wouldn't you rather be saving on your life assurance and saving on not buying cigarettes?

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