Smokers' Annuites

We all know that smoking is a threat to longevity, and an annuity company in the United Kingdom is banking on just that. They have created an annuity product specifically designed for smokers, based on mortality rates.

From About.com Guide to Business Insurance, Gregory Boop:

"So what does the Smokers' Annuity do? It pays a higher monthly rate to smokers. Why? Well as reported by the IBR, the Chairman of Partnership Assurance states, "It's an inescapable fact that the vast majority of smokers won't live as long as people who don't smoke." Therefore, higher regular payments can be made to the recipient because, well, they do not live as long as non-smokers."

Related:

• How Smoking Harms Us: Head to Toe

• Cigarette Smoking and Cancer: Questions and Answers

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