According to research by Bonkers.ie, quitting smoking and vaping can save individuals and couples substantial amounts on mortgage protection and life insurance. Smokers can pay nearly double the premiums compared to non-smokers; for example, a couple could save up to €33,000 over the lifetime of their policy simply by not smoking. The study highlights the stark financial divide in insurance costs, especially for mortgage protection, incentivizing smokers to quit not only for health reasons but also to alleviate financial burdens day-to-day. The findings come ahead of World No Tobacco Day, underscoring a dual benefit of quitting smoking.
Quitting smoking and vaping could save individuals and couples tens of thousands of euro over the lifetime of a mortgage protection, life insurance, and specified illness policy.
The research shows that smokers pay almost double the cost for life insurance, emphasizing the financial benefits of quitting for both health and wallet.
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