Want Cheap Life Insurance? Quit Smoking

Consumers who want cheap life insurance can start by quitting cigarettes, since many companies charge higher premiums for smokers because of the medical risk they are taking.

Nationwide smoking rates have generally been on the decline in recent years, in part because many states have increased taxes on cigarettes in an attempt to close growing budget deficits. Americans have also been more focused on their health, at least in some ways, in recent years.

This week, New York Mayor Michael Bloomberg indicated that he hopes to reduce the city's smoking rate even more in the coming years, in part by banning the practice at area parks and beaches.

According to a Bloomberg News report, the New York City smoking rate stood at 21.5 percent in 2002 and fell to 16.9 percent in 2007. Mayor Bloomberg now hopes to bring that figure down to 12 percent by 2012.

A report in the New York Times notes that Chicago and Los Angeles have enacted their own outdoor smoking restrictions, while the state of California is currently weighing its own proposal. Cigarettes can damage one's health and are increasingly expensive, but many consumers may not realize that kicking the habit can result in cheap life insurance as well.