Impact of smoking on insurance premium: The smoking habit not only makes you sick slowly but also financially weak over a period of time. When it comes to managing personal finances, smokers face double whammy.

Impact of smoking on insurance premium: The smoking habit not only makes you sick slowly but also financially weak over a period of time. When it comes to managing personal finances, smokers face double whammy. First, they blow their hard-earned money, which could be invested, in the smoke. Second, they also have to pay a penalty in terms of higher premiums while buying insurance products like term cover.

Ankit Agrawal, Co-founder and CEO, InsuranceDekho, says it is a well-known fact that smoking is injurious to health and people who smoke have a higher mortality rate. Thus when anyone with a smoking/nicotine habit buys a term insurance plan, they end up paying a higher premium.

Read full article here.

Rajeev Kumar – Financial Express – 2021-04-05.

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