Smokers can cut life insurance bill in half by quitting

MALE smokers can cut their life insurance bill in half by kicking the habit and shopping around.

Figures produced yesterday by the Financial Regulator showed the cost of covering mortgage policies varied dramatically across the sector.

In the case of a 29-year-old man protecting a €400,000 mortgage the lowest monthly premium for a non-smoker was €32.15 while the highest offered to a smoker was €70.25 — a potential saving of €457 a year.