Smokers paying €18,000 more for life assurance

SMOKERS are paying up to €18,000 more for life assurance than non-smokers, with their premiums up to 150% higher.

New figures from the Financial Regulator show that smokers generally pay double for assurance policies, which pay a lump sum in the event of the holder’s death.

By shopping around, meanwhile, smokers and non-smokers alike can save as much as €4,500 on the total cost of life assurance.