Lighting up could cost £3k

Taking the July 1st smoking ban as an opportunity to kick the habit could end up saving Britain’s soon-to-be ex smokers over £3,000 on their life insurance policy, claim experts at moneysupermarket.com.

In another warning about the expensive consequences of lifestyle, the website told smokers that they could be paying about twice as much as non-smokers.

Brits who don’t light up would save £3,150 over a 25 year term if they took their life insurance out with Liverpool Victoria (LV), while non-smokers with Norwich Union would be £2,370, or 45 per cent richer.

Emma Walker, head of life insurance at moneysupermarket.com, said: "In order to be classed as a non-smoker and qualify for life-insurance premium savings, insurers insist on smokers having packed it in for a full year

"Once smokers have given up for 12 months, they should go back to their insurer and ask for non-smoker rates, subject to tests to prove they have quit."

Recently Britons were warned that obesity could also raise the cost of their life insurance premiums.