Life insurance and smoking costs

Wed, 20 Sep 2006

Everyone knows smoking is a bad idea for the health, and the cost of cigarettes mean that it can become a financial headache. But a new study reveals just how much, when other costs such as cleaning products, special toothpaste and life insurance are factored in.

The study was conducted by the NHS smoking helpline. They found that the average 20-a-day smoker would spend £2,500 on their habit per year. The smokers’ lobby group, Forest, hit back at the research, accusing it of stating the obvious.

The research group found that the quantity and price of the products used by smokers was greater on average. The research factored in a number of different costs for cleaning and general hygiene, to reach their figure.

For those smokers looking to take out health or life insurance policies, the cost of premiums was found to increase. An insurance company was quoted as saying that the cost of life insurance premiums would be a third higher for those who smoked.

An NHS Smoking helpline adviser, Indrani Paul, said: "As well as costing you your health, smoking makes a huge dent in your finances - in many more ways than you might at first realise. It seems that, on top of the cost of cigarettes, smokers pay out more than an extra third of the cost on related expenses."
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