As per the latest reports, it has been revealed that if you are a tobacco smoker, then your insurance premium rates would be hiked by insurance companies. It has already been known that those individuals, who are overweight and are known to suffer from high cholesterol levels, are charged a higher premium rate from insurance companies. This is the latest development which has put tobacco smokers in jeopardy of sorts as now they would have to shell out more money while paying for their insurance premium. Apparently, the insurance companies are clearly defending their move and stating that by penalizing people who smoke regular cigarettes, they are setting an example as well as a benchmark for prompting people to lead healthier lifestyles.

Cigarette smoking leads to higher insurance premiums

The statistical data shows that there are approximately 250 major employers in the United States and as compared to the past figures, only 10% used to levy higher interest rates on those who led unhealthy lifestyles, nowadays, this has been increased to 20%. All those companies which are hiring more than 500 employees are now enticing their workers to lead healthier lifestyles by offering incentives based on their lifestyles. In case an employee is known to lead a healthy lifestyle then he/she would be rewarded by the employer with regards to incentives and vice versa. A suitable incentive is considered to be insurance premiums being offered at highly reduced rates.

Wal-Mart, PepsiCo and Home Depot are some of the companies which are indulged in hiking insurance premium rates for those employees who smoke tobacco and providing lucrative incentives to those who do not smoke or are using smokeless devices such as electronic cigarettes. As per the recent survey, it has been noticed that for a Wal-Mart employee who does not smoke tobacco, the insurance benefit could help him save as much as $2000 a year. Nonetheless, the only concession which companies like Wal-Mart have imposed with regards to employees who smoke tobacco is that once they quit smoking, they too would be subjected to paying lower premium rates like the rest of the employees.

Going by the present day scenario and the sky rocketing inflation, most smoking enthusiasts have decided to quit smoking regular cigarettes and adopt electronic cigarettes instead. Not only would this move help them safeguard their health, it would also help them save their hard earned money in the act. Apparently, switching to an e cigarette also ensures that the environment is kept free from pollution as well.