When you signed up for your insurance, if you were a smoker at that time your cover will be on smoking rates which are more expensive. If you have stopped smoking for a period of 12 months or more, you are able to complete a non-smoking declaration and your insurance premiums will be adjusted to non-smoking rates.
In some cases, this can halve your premiums. If you have a good adviser they will check each year to see if you are still smoking, if you let them know the date that you stopped they will load a task to contact you and complete the non-smoking declaration. A bank will not offer this service. In all my years of reviewing people’s insurance cover the record is seven years of someone still paying smoking rates after quitting.
If you give up for 12 months, move to non-smoking rates and then start smoking again, the cover that is on non-smoking rates will stay on non-smoking rates but any new cover / or increase in cover would be on smoking rates (for that portion).
If you know of someone who has given up the ciggys, make sure they have had their premiums adjusted accordingly.