Smoking Costs You in More Ways than One
Savera Kalideen, Executive Director of the National Council Against Smoking (NCAS), notes that tobacco products – including pipes, e-cigarettes, hookahs and cigarettes – can cause serious harm, ranging from respiratory illnesses to cardiovascular diseases and more than 25 types of cancers.
The NCAS also believes smokers are more likely to contract a more severe form of COVID-19, due to evidence from countries such as China. Kalideen notes that a smoker who gets infected with COVID-19 is more likely to be hospitalised, and at a greater risk of getting pneumonia, which could decrease his or her chance of recovery.
Smoking is costly in more ways than one. Apart from the cost of cigarettes, being a smoker means you may pay significantly more in premiums when taking out
life insurance in comparison to non-smokers. This is due to statistical evidence that smoking greatly increases one’s risk of developing and succumbing to certain diseases.
Bongers explains that life insurance companies need to be aware of their clients’ smoking status to charge premiums that are aligned with their clients’ risk. Should it come to light that you were a smoker when you applied for a policy but did not disclose it, your claim payout may be reduced as a result. In certain cases, a claim may be declined altogether if the knowledge of the smoker status coupled with certain health conditions would have resulted in the application being declined, says Bongers.