Smokers are urged to stop lighting up and start saving – as people who are cigarette free for twelve months pay significantly less on monthly insurance premiums.

As No Smoking Day approaches on March 11th, ASDA Life states premiums for non-smokers can be up to 50 per cent less expensive per month, saving anyone who quits hundreds, if not thousands, over the years.

Beginning March 9 and continuing for three weeks, ASDA will be offering discounts on nicotine replacement patches and gum to aid those wanting to quit.

According to moneysupermarket.com, a 30-year-old male with a smoking habit would spend £8,404 more on critical illness and life cover over 25 years than a 30 year old who doesn’t smoke.

Emma Walker, head of protection at moneysupermarket, said: "In today's climate where every penny counts, it's clear to see there are both financial and medical benefits to stubbing out cigarettes for good.

“There are real savings to be made by kicking the habit and shopping around for the best insurance deal to suit your circumstances.”

Besides the decreased cost of insurance and well-known medical advantages of quitting smoking, there are other money saving advantages of being a non-smoker

With the average pack of cigarettes retailing for £5.67, according to the Tobacco Manufacturers Association, someone who smokes a pack every other day would save over £1,000 each year.

All these estimated savings assume the policy holder is otherwise healthy. Experts advise any former smoker looking to save on life insurance to read the fine print before changing policies or providers.

Matt Morris, senior policy adviser at ASDA Life, said: “It is important to make sure you have a new policy in place before cancelling your existing one, as your new policy could turn up some nasty surprises in underwriting and may even be declined if your health has changed.”