The picture of charred black lung on the cigarette pack is hardly a deterent when the smokers crave for some quick nicotine fix. But from now, the smokers will have to bear more than Rs. 10,000 a year excluding the cost of cigarettes! This is the amount added to Life Insurance Premium of smokers. Since it is a fact that nicotine addicts have higher chances of contracting pulmonary & heart diseases, it makes sense to charge more for the high risk. Now for instance a 40 year old smoker has to 'cough up' Rs. 25,670 (approx) a year for a Rs. 50 lakh cover under Kotak Preferred Term Plan while for non smokers it is just Rs. 15,000. So if health problems in future don't motivate smokers to give up smoking, definitely the 'cost' of smoking will help them kick the butt.
2 Responses to “Smoking is Injurious to 'Wealth'”
December 23, 2010 at 11:12 AM
I completely agree with you about the bad effects of smoking. But there is no foolproof way for the insurance companies to have their medical test guys determine whether the person is a smoker or not, no?
December 24, 2010 at 12:20 AM
@magali I suppose there is no full proof way of determining it in case of occassional smokers. But in case of chain smokers identification can be made rather easily..
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