In the wake of the first anniversary of the smoking ban in the UK, research conducted by Co-operative Insurance (CIS) has revealed the average British smoker spends more than £2,000 every year to support their habit.

This works out to a massive £121,000 spent on smoking based on an average lifetime. For most life and health insurance policy's the smoking habit increases premiums two fold, so consumers ar ebeing urged to think twice.

"A year on from the smoking ban and those steel-willed enough among us to have kicked the smoking habit will be feeling the benefit in their health and wallets," said Hetal Parmar, manager for savings at Alliance & Leicester.

"We are all feeling the pinch on our purse-strings at the moment yet, as a nation, we still spend billions of pounds on cigarettes each year - money which could help us cover the rising cost of living or could be set aside to build up a nest-egg." He continued

He contiunued. "Due to the increased risks from smoking, most life and health assurance companies charge smokers over 50% more than they charge non-smokers. Anyone looking to take out life assurance now could make a large saving."