Life insurance holders have been told if they quit smoking they they could be eligible for a drastic cut in premiums.

Moneysupermarket figures have revealed that a 35-year-old male smoker would be charged £16.93 a month for £100,000 worth of life cover over 25 years with Friends Provident while a non-smoker could get the same insurance for just £9.79 a month with the same insurer, saving £2,142 over the term.

Emma Walker, head of protection at moneysupermarket. com, says: "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. The difference in the cost of life insurance premiums for a smoker and a non-smoker is vast and there are considerable savings to be made simply by getting the best value deal to suit your circumstances."

In order to be classed as a non-smoker and qualify for lower premiums, insurers insist on smokers having packed it in for a full year.

Gary Lumby, head of retail at Yorkshire Bank, says: "It's all too easy for long-term smokers to forget just how expensive their habit actually is, but those smoking just 10 cigarettes a day could easily save almost £1,000 during the course of a year. By putting the money they'd normally spend on cigarettes in an Isa or high-interest savings account, smokers will soon see those savings adding up, particularly if there is more than one smoker in the household."