In addition to the well-documented health benefits, smokers could also save over £1,400 on their insurance premiums by kicking the habit, insuresupermarket.com reports.
A 35-year-old man, for instance, could have saved 56 per cent a month on his life insurance premium by beating the nicotine urge in 2004. Over 20 years, this equates to £1,435.20.
Commenting on the figures, Peter Gerrard, senior researcher at the price comparison site said: "Insurers tend to insist that to be a non-smoker, you have to have given up at least 12 months ago, so if you quit on No Smoking Day 2005 you should definitely check your life insurance as you may be in for a pleasant surprise."
Since 2004, life insurance premiums for non-smokers have fallen by 12 per cent. With the smoking ban due to be imposed in public places across England from next summer, Mr Gerrard insists that there is no better time to quit.
"If you quit now, by next spring you will have accumulated 12 months no-smoking, allowing you to reduce your life insurance policy cost in time for the national ban," he said.
Not only are there immediate health and financial incentives to giving up, but also fewer future costs such as private medical insurance, he pointed out.To read more about insurance, click here.
© Adfero Ltd