Mortgage holders who smoke could potentially be paying over €20,000 more than non-smokers on mandatory life assurance premiums over the lifetime of their policy.

The figures, released by Low.ie to mark the tenth anniversary of the introduction of the smoking ban, compared premiums for smoking and non-smoking couples across a range of mortgage values and age demographics.

A mortgage of €140,000 over 25 years would cost a 35 year-old couple who smoke €3,430 more than non-smokers. The number increases to €9,788 for couples in their early 40s. A couple in their 50s with the same mortgage for just 20 years, would pay an extra €23,626.

“This is one of those mandatory insurances. Simply put, mortgage protection is there to cover the outstanding mortgage in case of death. The figures show that smokers will pay a lot more,” said Peter O’Reilly, managing director of Low.ie.

The good news though, is that smokers who manage to quit will be considered non-smokers after 12 months. -------------- This article originally appeared in