A survey by the Office for National Statistics shows that 44% of smokers believe smoking is the prime cause of premature death, not to mention the cost to your wallet, health and life insurance.
Wallet cost of smoking
A packet of 20 cigarettes now costs well over £5 and not surprisingly over 30% of smokers want to give up because they can’t afford to smoke or consider it a waste of money.
So, give up smoking and it’s an immediate way to save money and help your wallet.
Health and life insurance cost of smoking
Critically there’s the cost that smoking has on your health
- can you exercise without becoming breathless?
- what about your dehydrated skin and yellow hair?
- what about the increased pressure on many of your major body organs?
Smoking has proven health risks and so life insurers charge higher premiums for smokers.
You can get a life insurance quote quickly and easily – as a smoker though it will impact on your premiums, making it more expensive.
Expensive or not, life insurance is certainly worth considering to provide some financial protection for your family or dependants in the event of your death.
If you give up smoking, once you have been nicotine free for 12 months, some life insurers will consider you as a non-smoker and you can start to benefit from lower insurance premiums.
If you already have a life insurance policy, as a new ‘non smoker’ it could be worth contacting your insurer to see if you can take advantage of lower premiums.
Be aware though that depending on the way the insurance company processes your change, your higher age may affect your premiums and could even wipe out any gain from being a non smoker.
Social cost of smoking
As a smoker, there’s also the cost to you socially – many can’t smoke at home, and it’s banned from public places such as restuarants, pubs and the workplace.
Most also won’t smoke when there are children in the room, recognising the dangers of smoke to children.
So all this, coupled with the Office for National Statistics findings that 50% of smokers intend to quit in the next 12 months anyway, suggests it might be time to stop smoking now.
If you are ready to stop smoking, you can find out more information on the NHS Choices website.