How Smoking Affected The Cost Of Our Life Insurance Premium

Life Insurance

We all know the health risks of smoking followed by the dent it can put in the budget just to buy cigarettes. Did you also know that it costs smokers more money when they apply for life insurance, like it did for us? Who knew there would be such a significant cost difference for life insurance for a smoker and non smoker as you will later find out. It’s been over a year now that we butted out (January 29, 2102) and are both still smoke-free today. We will always give thanks to all the support along the way from not only each other but external motivation such as family, friends, our family doctor, the pharmacy team and of course The Smokers Helpline.

The Smoking Memory

As time went on smoking became less of a habit for us and more of a memory and now we don’t even think about it. We won’t lie and say that if someone sparks up a smoke that the smell is captivating because it still is. We smoked for quite a long time and every smoker knows that the first inhale is the best of a newly lit cigarette. When I’m at work it no longer bothers me when I’m yapping outside with colleagues and they are having a cigarette. In fact the more I continue to smell it the happier I am that I no longer have this habit. There have been many times over the course of the winter that we both have been thankful to not have to stand out in the cold just to get our fix. Addicting, you bet it was, but breaking the habit was the easy part the hard part is sticking to it.

Benefits of Quitting Smoking

The health benefit was our top priority followed by the monetary gains we would have simply by not having to fork out almost two hundred dollars every month. Over the course of the year that added up to more than a couple of thousand dollars that we willfully just blew away. One motivation to keep living the smoke-free lifestyle is when we see friends who smoke and their constant “need” to have one. We can see how the addiction can take over someone’s life like it did ours. We don’t talk about quitting smoking to those that smoke unless they bring it up. Honestly, when we smoked we knew what we were doing, we’re not idiots and neither are those that are addicted to smoking. I’m sure there are many smokers online who are going to read this blog post and wish that they too could give up smoking today. They can, but they need to have a will to succeed and a desire to live. That’s what came over us, not someone telling us we had to quit. I don’t think we initially set out to become a smoker (I mean, who does?) but now know it was a mistake that did cost us in many ways.

The Financial Advisor

When we initially quit we had our yearly review with our financial advisor whom we told about us quitting smoking and our desire to live a healthier lifestyle. He was just as happy as our doctor was about it and not only from the health benefits aspect. He told us that if we could stay smoke-free for one full year that we could be re-assessed and potentially listed as non-smokers. If accepted they would put us in a new class and a new life insurance policy drawn up. How exciting is that if we can potentially save more money? We both started with life insurance about 4 years ago with a 25 year term life policy just to cover our bases in case something should happen. As long as the house and funeral costs were paid we were happy enough with that. We didn’t need to have millions of dollars in life insurance plus we didn’t have any dependants at the time nor do we today.

This was another motivation and what we needed to continue through not smoking or wanting to pick one up and light it throwing all our hard work down the toilet. It only takes one cigarette to set us back and we knew that so we had to think ahead. It was always in the back of our minds about saving a bit of money in our budget because we are always looking for ways to improve. We had no idea how much we would save so we went on our merry way and waited for one year to pass.

One Year Smoke-Free

One year had passed and we booked our annual meeting with our financial advisor who had all the paper work ready for us to fill out for our new life insurance policy. I’ll admit we said a couple of times that we better get a good reduction in rate with all the paper work we had to fill out again. We were skeptical yet optimistic because we knew that we never cheated, not once. We didn’t have to have any type of testing done although if they required it we would have been more than happy to oblige. In fact we almost wanted them to check because we were so proud of our accomplishment.

Even though the paperwork was somewhat daunting (nothing is as bad after you fill out pages and pages of forms to become a Permanent Resident in Canada) it was so important to make sure that our medical history was accurate and up to date. There’s all those horror stories we hear about people who file a claim for life insurance only to find out something was missing or inaccurate. We didn’t want to be those people so we took the time to make sure everything was correct. They told us that the  underwriters would likely call our family doctor which was perfectly fine with us. We went on our way with the hopes of hearing back soon the results.

Life Insurance and Smoking- The Results!

We received a phone call last week from our financial advisor who wanted to congratulate us on being approved and we are now rated as non-smokers in our new policy. The best part is that the new monthly expense for our budget has gone down so we are no longer paying such high life insurance costs.

Here is the breakdown:

  • To Buy Smokes Approx $196 a month or $2352 a year
  • Smoker Life Insurance Policy: $135.05 for the both of us
  • Non-Smokers Life Insurance Policy: $70.43 for the both of us

Yearly as smokers we paid $1,620.60 to pay for our life insurance policy and the new yearly cost is just about half that amount at $845.16. Over the course of the next 21 years the policy will cost us $17,748.36 instead of what would have been $34,032.60 in premiums. What a huge difference and we were excited to make that change to our life insurance category in the budget. We will take the money that we are saving from our life insurance and put it in our savings account for now. We may just use it as our “rendezvous money” as one of my fans suggests to do with money we don’t spend each month in our grocery budget. That sounds like a plan and that way when we save enough money we can treat ourselves to a trip back to Europe to travel and see family.

Sometimes it’s the small things we don’t think about that add up in a big way for the budget. It truly was a lifestyle change for love, health and money for us. Although quitting smoking is not as simple as it sounds even if we made it seem that way, it’s not. I can only hope that those that do smoke make the decision to quit for their own personal reasons. They may also save money not only from not buying cigarettes but see the cost of their own life insurance policy go down.

Have you quit smoking and received a reduction in your life insurance premium?

What motivates you to stay smoke-free?

You can read our Quit Smoking Series Below

New Start, New Beginning, New Life, Change, Divorce, Seperation

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Driven To Quit Smoking Challenge Has Ended- A Lifestyle Change For Love,Health,Money

As you may know we quit smoking on January 29,2012 because it was the right thing to do. We have been tossing the idea in the air for over a year and we had to jump in head first. Our mates were very excited for us when we finally told them because they truly wanted to see us live a healthier lifestyle.  I am naturally fit as my job keeps me that way but I do all the right things including lifting weights, sports and eating healthy. Smoking was always our downfall and a way to cope with stress and everyday life.

Here are some changes we noted since we have quit:

  • When I’m working out at the gym I don’t get winded as fast. I feel like my lungs are wide open and fresh and that I can carry out anything I set my mind to.  If you want to lead a healthy lifestyle just being active 3 days a week is important. You don’t have to be a big gym buff like I am but simply walking the dog or to the park gets you out of the house and moving is what is important.  This is what the Mrs likes to do with her mates and I think it is a great way to motivate your friends.
  • Eating Healthy has always been smart for us but challenging when we quit smoking so we had cravings  mainly sweets (My famous Mr.CBB Fudgy Brownies). We are hoping to keep our weight down and continue to fight the cravings although a treat here and there never hurts anyone! Work hard and reward yourself in money and in health!
  • Incorporating The Grocery Game Challenge at my blog has encouraged me to buy  fresh  vegetables, meats, dairy and grain products as opposed to convenience foods as we post what we buy. We are working hard at making these lifestyle changes.
  • My mates come around to shoot some hoops more often now that I am motivated more than ever to get outdoors
  • I don’t smell like smoke any longer and my sense of smell has gotten better.  This was a big deal for me especially as I love cologne and fresh smells.  I was always bothered that I potentially would smell like smoke.  I can smell smoke from a mile away if someone is a smoker but I don’t discriminate as I was once in their shoes. It’s not a pleasant after-smell and you won’t realize it until you quit.
  • Our overall appearance seems brighter and rosier, and we love to have a good laugh and take the piss out of each other even more now. We focus  on our relationship with the time we have gained back from not smoking. We wanted to do this so we could spend more time together in this world, after all Love is, what we make of  it!

So even though the Driven to Quit Challenge is over as of tonight March 31,2012 we are happy to say we have remained smoke free since our quit date in January 2012. We have saved over $300 in cigarettes and gained back weeks in our lives.

The cost of  smoking on your health and budget is phenomenal and if  I could beg you all to quit I would. It’s up to you to make that lifestyle change! We will continue this challenge as a lifestyle change and challenge ourselves to stay smoke-free for the rest of our lives.

Even if we don’t win a prize in this Challenge we know that there is no prize big enough to conquer the LOVE we have for each other and what the rest of our lives together will mean to us!

We want to thank all of our family,mates and fans for their continued support and of course The Smoker’s Hotline and The Driven To Quit Challenge. Without all of you this would never have happened. You need a great support system when you quit smoking and that is what we did get from all of you, so thanks! We love you all!


Mr. & Mrs. CBB~

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Kick the Smoking Habit, Save Your Health and Budget Update Week 4

Here we are at week 4 already, can you believe this! We certainly are in awe over our accomplishments. If you would have told us 4 weeks ago that we would be smoke-free by the end of February 2012 we likely would have thought you were nutty.

The reality is you have to want it so bad that you can taste victory. You need not wait until you or a loved one has a health scare to make this decision. This was one of the main factors of participants in that Quit Smoking Program we participated in at the start of our journey.

For us it was Health first, money last and it should be that way for everyone who wants to quit. You only live once and you can’t put any amount of money on your own life.  I have to admit though that this quit smoking process has been so easy it’s ridiculous.  We certainly thought I’d be sleeping in a separate room by now.

As we end this week with a bang we are now coming up for full swing “Driven To Quit Challenge”  beginning March 1, 2012. If we have inspired you or yo are contemplating quitting you have until February 29,2012 to register. We are so excited to be included in this challenge and know with the support of our friends, family and Canadian Budget Binder Fans will continue to be smoke-free for LIFE!

I will follow-up with all of you for the duration of the contest which is one month. At the end of the contest I will only update you on how much Moola $$$$ we have approximately saved as this number is never correct!

Keep Rooting us on Folks.. would love to drive away in a New Ford Fusion or Ford Edge or a dream vacation!!!

The best part is…drumroll!!!!

Here are the statistics thus far:

Since Monday, January 30, 2012, I’ve been smoke-free for:
27 Days, 10 Hours, 7 Minutes, 56 Seconds.

I have saved $87.68 by not smoking 274 cigarettes.
By not smoking I have added
4 Days, 13 Minutes, 5 seconds.
to my life expectancy.

We did notice however that we were spending more than the $120 a month on cigarettes not noticing because of the overlap in purchase. It also depends on how many days in a month, price of a pack, how many we smoke per day as it’s just estimate. Looks as if we were spending aprox $196 per month. Wow! Not going to miss this expenditure!


Photo Credit:123RF

Kick the Smoking Habit Save your Health and your Budget- Update Week 3

Hey there fans!

It’s now Feb 19, 2012 and 21 days ago on Jan 29 @ 9pm Mrs. CBB and I made the decision to give up smoking. We had both been smoking for some time now and wanted to make a healthy change.

My Mileage
Smoke-Free Days: 21
Cigarettes Not Smoked: 210
Amount Saved: $67.20
Life Gained:
Days: 1 Hrs: 22 Mins: 9 Seconds: 45
Although we are not heavy smokers saving $120 a month will certainly come in handy in our budget. We’re  making changes to our budget as it is important to always tweak it if you need to update it like we need to.
  • Check in next week as I do our monthly budget  to see how well we chopped the budget in February.
Wake up and smell the roses…. boy did I ever!
It was a celebration for me in the shower the other morning when I went to apply body wash to my loofah. The overwhelming musty smell of the product rushed up my nose. It was not a scent I recall smelling so vibrant, yet manly.  It was at that moment I realized I am moving in the right direction. Smell is a gift so beautiful and we should all experience it in its glory.
Throughout the Days………..
As I mentioned last week we both go to a “Stop Smoking” meeting every Wednesday evening in our city. There are 8 of us in the class although 15 signed up, surprised- not really.
We both were tossing the idea around in our head that maybe this meeting isn’t for us. You see we signed up for the meeting a week before we quit so we are ahead of the game.
On our way to the meeting we decided we would let them know in person that we were backing out of the meeting for 2 reasons.
  1. We had already quit smoking and these meetings were geared towards ramping up a quit date for the smokers in the room
  2. We couldn’t handle the smell of smoke in the room as it was so pungent (I found it different then if one of my  mates at work was smoking across the way outside, not sure why)

Now, don’t get me wrong I’m not punishing smokers, we were for many years now. It’s just that the smell of smoke after quitting was so overwhelming for us. We don’t want any temptation to lead us down the forbidden path.

Everyone was happy and understood as we gave them our last cheer and away we went hand in hand. I can only pray those left in that room find the strength to make it through this.

Well peace to you all, come back again next week to see if I’m still standing or in the dog house. I will touch on the topic of couples quitting smoking. This could get interesting.

March 1, 2012 the  Driven To Quit Challenge begins in Ontario and you can bet “WE WILL BE READY TO RUMBLE!-

Now, off to refrigerator to see what I can fill my gobb with!



If you liked this post subscribe to my blog and catch up on past posts such as:

The Cost of Smoking on your Health and Budget

Kick the Smoking Habit Save your Health and Budget Week 1

Kick the Smoking Habit Save your Health and Budget Week 2

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Kick the Smoking Habit, Save your Health and Budget- Ending Week 2

Forever is just the beginning to a Healthy New You!

Baby Steps, baby steps, you can do it, the words of our support system. We have ended week 2 quitting smoking and thus far its been the best decision in our lives besides marrying each other. Aweeee… I know, I’m sweet that way!

Have you ever considered quitting smoking?

We had over the years but mostly my wife as I never thought I could do it. Most of the time the negative reasoning got the best of me and ended any further conversation on the subject.

What thoughts were running through my head?

  • I love smoking too much
  • What will I do with my time
  • What do you mean I smell, I don’t smell anything
  • I don’t smoke much
  • I can’t, I need it to relax after I eat, at work, in my truck
  • Everyone I hang out with smokes, I can’t possibly quit

What I was missing were 2 important facts;

  • Smoking Kills! My father passed away while having Heart By-Pass Surgery
  • Smoking costs a fortune at $30 a week you crunch the numbers. I know some couples that spend $150 a week…. OUCH!

What side effects have we experienced in week 2?

  • Insomnia- I have had a difficult time sleeping at night.  I really hope this passes soon
  • I’m eating more but that’s ok I’m 6ft tall and can work it off at work and the home gym
  • Heartburn- good thing all we picked up TUMS with those coupons, they sure are coming in handy
  • The wife is eating about the same and is cranky.. oh yeah, just doing my head in lol.. Men, have yourself a place to hide for the first week! No really, it’s a side effect she says! Mwah!
What have we been doing with our extra time?

Yup, you guessed it, the wife’s “honey do list” has been given a swift bump into first gear. You know what it’s like men! Other than that we have taken the dog for extra walks when we can and working on the blog.

How’s the Support Group Meetings?

Well, hmm, the first meeting was great, as it was more of an introduction. On the way to the second meeting we both agreed that we would opt out of the meetings. We only made this decision because no one in the group had quit smoking. The meeting was to assist you in leading up to quit.  We do receive support calls periodically from the Driven To Quit program.

How’s the Nicorette Stash?

It’s pretty much where we started. We have so much Nicorette left and plan to donate it. I’m sure someone else will appreciate the $30.00 savings per box. In total I used 8 Nicorette gums and the wife had 2 gums and nothing for a week now.

I can only presume that if you want something so bad you can make it happen. We both wanted to quit so bad that we are passionate about completing this 2012 goal.

Motivation is key and we continue to motivate each other, so support and motivate if you are quitting.

For Valentine’s Day we give each other our HEART, that’s LOVE!

Peace to you all! Happy Valentine’s to ALL!

My Mileage
Smoke-Free Days: 16
Cigarettes Not Smoked: 160
Amount Saved: $51.20
Life Gained:
Days: 1 Hrs: 12 Mins: 2 Seconds: 38

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Copyright (c) <a href=’’>123RF Stock Photos</a>