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Stop smoking and the savings will be more than you expect - you life insurance premiums should be some 50% cheaper to start with. This article explains.
Life and Critical Illness Insurance. Quit smoking and your premiums will crash.
Author: Michael Challiner
Smokers have less money to burn that the rest of us - that's because
So the forthcoming ban on smoking in enclosed public places which comes into effect in summer 2007 is surely a great time to take your last drag! Similar smoking bans already in force in Scotland and Ireland, have persuaded thousands and thousands to give up. Indeed, recent figures from the Health Development Agency show that smoking is the biggest single cause of illness and premature death, killing some 83,200 people a year in England alone! It's not surprising therefore, that health considerations are the most persuasive reasons for kicking the habit - but there are some significant financial reasons as well! As smokers and ex-smokers alike can testify, it's far from easy to quit the habit - but along with the health dividend, the thought of extra spending money should provide a major incentive. Reformed smokers could put some of their newfound money into savings or pay off debts quicker, or even overpay their mortgage. Even more holidays come into play! And life insurance is another area to make big savings. Smokers frequently pay up to twice as much for their cover than non-smokers and it seems as if premiums for smokers are still rising. That's because for some years now the insurance companies have been locked in a price war fuelled by the Internet. Did you Know? Today in the UK, most comprehensive private medical insurance programs cover the cost of routine and planned health care procedures, although emergency care is still largely the province of the National Health Service. Did you know? Did you know? Today, a move from the average semi worth £174,750 to an average detached house costing £293,250, will cost some £12,500. Five years ago the same move would have cost just £4,500. These costs include Land Registry costs, local authority searches, estate agents, solicitor's fees, and of course, stamp duty. This means that house moving costs have increased by 176% whilst house prices have themselves risen by 70%. This increase in home move costs has been greatly influenced by the fact that the average price for a detached house has now burst through the £250,000 level above which stamp duty jumps from 1% to 3%. |
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