Introduction
In the United Arab Emirates (UAE), where a forward-thinking approach to health and wellness is gaining traction, insurance providers are increasingly encouraging policyholders to embrace healthier lifestyles. As the new year begins, many of us embark on a journey of self-improvement, setting resolutions aimed at achieving a healthier, wealthier, and happier life. While gym memberships and diet plans often take the spotlight, one resolution stands out for its potential impact on both health and finances: quitting smoking.
Smoking and Insurance Premiums
Smoking poses a significant risk to health, impacting insurance premiums. Insurance companies consider smoking as a high-risk behavior when determining premiums. Smokers face higher insurance costs due to increased health risks and shorter life expectancies. Non-smokers may pay up to 50 percent less for life and health insurance premiums compared to smokers.
The Financial Implications
- Quitting smoking can lead to substantial savings on insurance premiums in the long term.
- In the UAE, smoking-related illnesses contribute significantly to healthcare expenditures, affecting insurance costs for policyholders.
- By quitting smoking, individuals not only save money previously spent on cigarettes but also position themselves for reduced insurance costs.
