BANGALORE: Does a cigarette in a friend’s hand or a ring stylishly blown from a friend’s mouth tempt you to start smoking? Do you believe that smoking makes you cool and brings a sense of belongingness among your peers? Are you someone who easily gives into peer pressure? Or are you somebody who has been killing yourself over the years because of this dirty habit? Well it is time to consider and think about how much more you are willing to pay for your Life insurance package.

The maiden budget of the Modi led government raised the tax on tobacco products which was expected to hurt businesses thereby forcing the manufacturers to increase the price of related products. This move was implemented to reduce the amount of tobacco sales and use. But it seems like this has had no effect on the people.

The latest on this agenda news is that smokers are going to have to pay 235 per cent more for their Life Insurance package. This new approach also has another catch to it. Men who are older will pay more than younger men, and women get to pay much lesser than men no matter the age. So in case you want to continue this habit, an older man of 65 years could end up paying thousands of rupees per year.

Jeff Rose, a writer for good financial cents, has written that men of 30 years of age could be paying two to three times more than nonsmokers the same age. He also goes on to write that men of 40 will pay three to four times more than those younger to them.

So save your life, quit smoking and also save on these ridiculously huge Life insurance claims and pay outs.

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