When you take into account the extra costs of your life insurances, smoking costs more than you think. This article spells out the costs and what the money could achieve if invested …….. or what it could buy!
Sorry to remind all you died in the wool smokers but November was Lung Cancer Awareness month. But no don't click away – spare a few moments of your time, please ……..
If hard words on packets wash over you, let me put the financial case to you for quitting. As well as feeling healthier I can offer you a holiday for two on Paradise Island in the Maldives, for two, for every year of your longer life!!
OK, I know you don't believe me. Let's explain.
Say the average smoker is 40 and smokes 20 a day. With cigarettes at £5 a packet that's £1,800 a year. Then you'll save loads on the cost of your your life, critical illness and medical insurance. Just how much was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more for life insurance than a non-smoker. Therefore, giving up could easily save you £50 per month on your various insurance premiums.
So as a non-smoker you could be £2,400 per year better off. Wearing a financial hat I can show you that if a 40 year old man put those savings into a personal pension plan with NFU, then at 5% per annum growth, he'll have a healthy retirement fund of £97,860. On retirement that could give an in the pocket tax-free sum of £24,465, plus an annual lifetime income of £3,830 (or £5,100 per year if the tax-free cash was left in the pension).
On the other hand let's have more fun!
For £2,400 you can have a 5 star 10 day holiday for two on Paradise Island in the Maldives. Give up smoking forever and you could afford to go back to Paradise Island every year!
QED – makes you think doesn't it?
Uninsured drivers increase the cost of car insurance
Have you ever driven without car insurance? Many people do and it’s become a big problem – not only for fellow road users but also the insurance industry. This article discusses the situation and proposes some solutions.
Car insurance and the younger driver
Why is car insurance so expensive for younger drivers? This article answers the question and provides some useful advice.
Driving conditions and trends affecting car insurance
This article contains a wide range of statistics which paint a picture of driving conditions in the UK in 2007.
