Swap ash for cash

The UK's annual no smoking event gives smokers the perfect chance to save cash on their finances. No Smoking Day on 10 March will give smokers a great opportunity to kick the habit and save themselves thousands of pounds on their future life insurance premiums.

Insurance companies consider ex-smokers to be non-smokers a year after they have given up.  Being classed as a non-smoker means that, for life and critical illness insurance, premiums could become around 50% less expensive. 

Matt Morris at LifeSearch says: "It is important to make sure you have a new policy in place before cancelling the existing one, as a new policy could turn up some nasty surprises in underwriting and may even be declined if your health has changed."

Life insurance: News update: 3 March 2010