Following yesterday's decision by the Government to impose a total ban on smoking in pubs and clubs, Moneynet (http://www.moneynet.co.uk ) highlights the true extent of the financial cost of smoking. "A smoker applying for life assurance will find themselves facing almost double the premium of a non-smoker," said Moneynet chief executive Richard Brown. "Add that to the price of the cigarettes and the cost of smoking plainly threatens your wealth - not just your health." With a packet of cigarettes currently costing around £5, a husband and wife who both smoke 20 a day will already be spending a staggering £3,640 a year on their habit. Should this couple, aged around 40, want to take out life assurance including critical illness cover with Norwich Union for example, they would be looking at a monthly premium of £213.30. For a non-smoking couple the cost would be just £112.20. Add this extra charge to the huge sum already going up in smoke on cigarettes and they would find themselves blowing more than £400 a month on smoking - that's £4,800 a year. If the couple were to quit smoking and invest the money they would have spent on inflated premiums and cigarettes, based on an average rate of 7.5%, they would amass around £250,000 after 20 years. And Moneynet advises consumers not to fib to try to get lower cost life cover. "Many people are tempted to lie about their smoking habits when applying for life assurance, but this is a false economy," said Brown. "Should you become ill or die from a smoking related condition, your insurance won't pay out - and then you'll fully understand what smoking has cost you." Consumer enquiries: 0208 460 2833/ http://www.moneynet.co.uk

Press enquiries: Richard Brown, Chief Executive, 020 8313 9030 David Andrews, David Andrews Media Ltd 07941 255855/01273 774109 Editor's notes Moneynet.co.uk is the UK's longest established online personal finance research and data analysts. The company offers consumers a choice of thousands of low cost financial services products. From mortgages, personal loans to motor, home and medical insurance, credit cards, savings accounts and best buy fixed rate products, Moneynet is one of the most comprehensive online services of its kind in the UK. Founded by chief executive Richard Brown, the Moneynet brand is destined to become one of the UK's major players in consumer finance products.

Disclaimer: All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

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