A Norwegian life insurer has decided to follow the lead of many other western providers and will begin to charge smokers extra for life insurance.

British life insurers already routinely take into account a persons smoking habits when working out the total cost of the premium and smokers can often expect to to pay almost 40% more over the lifetime of their policy.

This recent move by Storebrand Insurance will see people who smoke as little as one cigarette daily having their premiums raised by up to 50%. The insurer pointed out that it would not only reflect the true risk of insuring smokers but would provide a stimulus to kick the habit. As Jan Otto Risebrobakken. Explains:

“People know that it is dangerous to smoke. This is by now well documented, and we therefore feel it is right to differentiate. It is also an extra incentive for smokers to quit”.