Smokers everywhere know the health risks of smoking, but it is still shocking to see that the American Cancer Society and the World Lung Foundation estimate that 6 million people died around the world from tobacco use in 2011. Whether a smoker or nonsmoker, life insurance is essential to help keep families afloat after a tragic death.
“The tobacco industry is among the top-10 most influential industries in the world because of its sheer magnitude of wealth and sales,” Judith Mackay, co-author of the report and a physician and adviser to the World Lung Foundation and the World Health Organization, said in a telephone interview with Bloomberg Businessweek.
Tobacco-related deaths have almost tripled in the past decade, the report said, with a 17 percent jump in cigarette production. The report said there are $500 billion in annual sales from tobacco sales with the six biggest companies bringing in $35.1 billion.
For people who end up spending a lot of money on cigarettes and smoking, life insurance could be a better use of the funds. Instead of having to worry about health issues stemming from cigarette use, people can feel at ease to know their families will be protected in a worst-case-scenario situation.