While most people want to quit smoking, most have a very hard time doing so and it can severely affect how much they pay for life insurance. The Washington Post said smoking is still the No. 1 cause of preventable death in the country with nearly half a million people dying due to smoking-related illness.
For those who smoke, the cost of their life insurance could increase. Many employers have tried to help their employees quit. The Post said 24 percent of firms with more than 20,000 employees offer varying premiums depending on whether an applicant smokes.
“The issue isn’t smokers; it’s smoking,” says Danny McGoldrick, vice president for research at Campaign for Tobacco-Free Kids said, adding that charging higher premiums for insurance may instead make people drop their coverage instead of help them stop smoking. Companies may want to set up a different type of program to encourage individuals to quit.