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Life insurance 'cheaper for non-smokers'
September 08, 2010
People who give up smoking can look forward to cheaper life insurance premiums.
Cheaper life insurance premiums could be one motivating factor for people looking to give up smoking.
According to Bill Stanley, money coach for the Colorado Connection website, life insurance is a necessary purchase for anyone with a family.
He pointed out that non-smokers will typically be offered cheaper quotes by providers.
"If you smoke, life insurance will cost you two to three times more than if you did not smoke," Mr Stanley stated.
The financial expert added that smokers who decide not to purchase life insurance because of this are putting their loved ones at "great risk".
Earlier this month, Steven Weisbart, senior vice president and chief economist of the Insurance Information Institute, explained that a life insurance payout can cover many important expenses.
By covering the loss of household income previously provided by the policyholder, such protection can help pay for school fees and health insurance, it was suggested.
Published by James Whiting
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