The Dopamine Trap: How a Smoke-Free Life Saves You Money on Insurance

We, humans, are social animals. Naturally, we adopt habits from our surroundings—some beneficial, like healthy eating and exercise, and others that are easier to pick up but harmful in the long run, like smoking and drinking. While these habits may seem enjoyable initially, the real cost reveals itself over time.

According to The Global Action to End Smoking report (2022), India has the second-largest number of tobacco users in the world with 253 million Indians aged 15+ using tobacco. Beyond the health risks, smoking significantly impacts finances, especially life insurance premiums.

Smokers pay 40-50% higher premiums than non-smokers. So why risk your health and pay more? Quitting not only improves well-being but also reduces insurance costs. Let’s explore how.

How Smoking Affects Life Insurance Premiums:

• Higher Health Risks: Smoking causes cancer, heart disease, and lung issues, putting smokers in a high-risk insurance category.
• Shorter Life Expectancy: Smokers statistically live fewer years, making insurance more expensive.
• Age & Policy Type Matter: Premiums rise with age, and smokers pay more for any insurance type.

Don’t you think quitting smoking is a better option? It surely is! Let’s give you an overview on the health and financial benefits so that you make an informed decision.

Health & Financial Benefits of Quitting Smoking:

• Better Health: By quitting smoking, you are not only helping improve your own health but also the health of others around you and in general the environment. Quit smoking to reduce the risk of cancer, heart disease, and respiratory issues.
• Save Money: Beyond medical expenses, quitting smoking translates to financial savings in multiple ways. No daily cigarette costs + lower medical expenses + reduced insurance premiums.
• Lower Premiums Over Time: Many insurers reassess non-smokers after 12-24 months, cutting costs significantly. This can result in  lower life insurance premiums, making it a financially smart decision to quit.

Steps to Quit Smoking & Lower Your Premiums:

• Nicotine Replacement Therapy (NRT): Use patches, gums, or lozenges to ease withdrawal.
• Get Support: Counselling and support groups help break the habit.
• Lifestyle Changes: Regular exercise, a healthy diet, and mindfulness practices to curb cravings.

Reapplying for Lower Premiums

Check your insurer’s reassessment policy, provide medical proof to confirm your tobacco-free status, request for a policy review and close with a lower premium.

A Financially Secure Future

Choosing to quit smoking today not only safeguards your health but also sets you on a path to financial security. Life insurance becomes more affordable, and long-term medical expenses decrease, ensuring a more stable future.

Take the First Step Today

Smoking is not only injurious to your health but also to your financial future, whether it’s premiums or medical expenses. So now is the time to take that step towards a healthier, wealthier and financially secure life. Quit smoking now!

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Mktg/RNLIC/blog_nosmoking/V1/Mar25

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