The Last Word with Matt Cooper Quitting Smoking And Vaping Can Halve The Cost Of Your Life Insurance
Jan 7, 2026
Charlie Weston, the Personal Finance Editor of the Irish Independent, joins to discuss how quitting smoking and vaping can slash life insurance costs by 50%. He emphasizes the importance of honesty on applications, as even occasional use can classify you as a smoker. Charlie quantifies savings from quitting and highlights the rising costs of cigarettes and vapes. The conversation also touches on challenges like addiction, the paradox of smoker annuities, and the broader impacts of medical inflation on health insurance costs.
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Quit Nicotine For Big Insurance Savings
- Quit all nicotine products and stay abstinent for 12 months to qualify as a non-smoker for insurance rates.
- You can halve life and mortgage protection premiums and save roughly €700 or more on a typical €300,000, 25-year policy.
Vapes Count As Smoking For Underwriting
- Insurers treat vapes, patches and gum as smoking for underwriting if you're still using nicotine products within 12 months.
- Honesty matters because misreporting smoking status can void a policy payout after death.
Save Immediately By Cutting Out Purchases
- Stop buying cigarettes and vapes to save directly on habit costs as well as insurance premiums.
- Typical packet and pouch prices now make smoking an expensive habit to maintain.