Smokers who quit could save over £12,500 on protection products.

The insurer Prudential says that smokers who stopped smoking could save over £12,500 on life and serious illness insurance premiums.

The life company says people could get up to 50 per cent off their premiums and added to the savings they would make on not buying cigarettes, it would be equivalent to receiving a 9.5 per cent pay rise.

Apparantly, research has come out ahead of National No Smoking Day (March 12 this year) and found that 20% of smokers said they would be willing to pay up to £6 for a packet of 20 cigarettes, while 3 per cent of smokers said they would still buy cigarettes if they cost more than £20 per pack of 20.

A smoking habit at this rate would cost nearly £7,300 every year. When also taking into consideration the extra premiums smokers pay on their life and serious illness cover, it becomes £7,800 per year.

PruProtect CEO Sammy Rubin says: “National No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.”

An ex-smoking (for over 30 years) Independent Mortgage Adviser says "If you are a smoker, stop smoking, save money, save your health, be able to smell and taste things properly, and think of your family and friends who hate being around a smoker".

Have a good weekend, y'all. I'm clearing out the garage !