Quizzes & Puzzles3 mins ago
Breaking the Habit, can it stop us from Breaking the Bank?
25 Answers
It's now over a year since the smoking ban was enforced across England and Wales. The government's strong-arm approach has proved very successful in getting people to give up on their habit, at least in public.
According to recent research, 1.64 million people stubbed out their final cigarette since July last year, around 14 per cent of the country's smoking population, with Londoners being particularly "good." However, while the health benefits of quitting have been widely acknowledged, the financial costs have been relatively overlooked, especially when it comes to the implications the habit has on a person's insurance policy.
Not only will millions of Brits be better able to exercise, but insurers reveal they could be saving themselves a tidy sum each month. In an effort to boost the nation's health and undoubtedly their own customer numbers, many insurers reported that the costs of their monthly life insurance premiums are effectively cut in half after a year when someone stops smoking.
This could allow the average adult in good shape to cover themselves against unfortunate medical events for less than the cost of a packet of cigarettes each month.
With cuts in insurance costs like these, it is likely that the number of new non-smokers taking out health insurance policies over the coming months is likely to soar.
Insurers are getting cautious though, as this recent change has resulted in some smokers trying their luck. Insurers have had to put new measures in place to weed out those trying to make savings without making the effort to give up.
Whilst we are sure all AnswerBank users are scrupulously honest; have you or someone you know had issues over insurance and smoking?
Also, more generally, what is your experience of dealing with life and health insurance companies?
According to recent research, 1.64 million people stubbed out their final cigarette since July last year, around 14 per cent of the country's smoking population, with Londoners being particularly "good." However, while the health benefits of quitting have been widely acknowledged, the financial costs have been relatively overlooked, especially when it comes to the implications the habit has on a person's insurance policy.
Not only will millions of Brits be better able to exercise, but insurers reveal they could be saving themselves a tidy sum each month. In an effort to boost the nation's health and undoubtedly their own customer numbers, many insurers reported that the costs of their monthly life insurance premiums are effectively cut in half after a year when someone stops smoking.
This could allow the average adult in good shape to cover themselves against unfortunate medical events for less than the cost of a packet of cigarettes each month.
With cuts in insurance costs like these, it is likely that the number of new non-smokers taking out health insurance policies over the coming months is likely to soar.
Insurers are getting cautious though, as this recent change has resulted in some smokers trying their luck. Insurers have had to put new measures in place to weed out those trying to make savings without making the effort to give up.
Whilst we are sure all AnswerBank users are scrupulously honest; have you or someone you know had issues over insurance and smoking?
Also, more generally, what is your experience of dealing with life and health insurance companies?
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Why is this in Chatterbank. Shouldn't this be in one of the other categories (Insurance?).
I appreciate you are doing quite a good job on here Mr Ed, but a lot of us hardly visit chatterbank. (I picked this up on recent posts - but wouldn't have seen it otherwise).
I thought chatterbank was for light hearted chatter and gossip.
I appreciate you are doing quite a good job on here Mr Ed, but a lot of us hardly visit chatterbank. (I picked this up on recent posts - but wouldn't have seen it otherwise).
I thought chatterbank was for light hearted chatter and gossip.
I am always scrupulously honest when dealing with insurance companies.
For example, I get a discount on my car insurance as I keep my car garaged overnight. Whenever I am unable to do so, I telephone my insurance and tell them the car will be elsewhere.
All insurance companies are businesses with the sole aim of making a profit. If they can find any reason whatsoever not to pay out, or pay out a reduced sum, they will use it.
I pay my premium because I want to be able to rely on claiming should the need arise. I will not give them an excuse not to pay up.
With smoking, my house insurance went down when I stopped - there is a much reduced risk of fire. :)
For example, I get a discount on my car insurance as I keep my car garaged overnight. Whenever I am unable to do so, I telephone my insurance and tell them the car will be elsewhere.
All insurance companies are businesses with the sole aim of making a profit. If they can find any reason whatsoever not to pay out, or pay out a reduced sum, they will use it.
I pay my premium because I want to be able to rely on claiming should the need arise. I will not give them an excuse not to pay up.
With smoking, my house insurance went down when I stopped - there is a much reduced risk of fire. :)
Cheers for your response, Ethel. Really appreciated!
The question has been posted in other sections, but CB is all about chit-chat and this was posted to see if you guys have had any experience with the topic.
We just wanna get your ideas, reactions and experiences and turn it into decent content at a later date.
The idea is to get your responses, collect them and use them as references for when the new website comes about.
The question has been posted in other sections, but CB is all about chit-chat and this was posted to see if you guys have had any experience with the topic.
We just wanna get your ideas, reactions and experiences and turn it into decent content at a later date.
The idea is to get your responses, collect them and use them as references for when the new website comes about.
-- answer removed --
I suffer from emphysema,whilst this is considered a smoker's disease,that is not always the case.In my family we have a genetic condition called Alpha1 Antitrypsin Deficiency which can cause emphysema as well as liver disease. This has led to me being refused outright for a life insurance policy by a well known company who I have accidental death coverage with.
