Philip Morris International (PMI), the tobacco company that sells Marlboro cigarettes, is launching an insurance company offering smokers a discount if they quit or switch to e-cigarettes, CNBC reported.

The wholly owned subsidiary Reviti will first sell life insurance in the U.K. and plans to expand into more overseas markets. Smokers get discounts if they stop, quit or switch to a potentially less carcinogenic product, such as Philip Morris' vaping devices, the report said.
According to the company, people who switch to e-cigarettes get a 2.5 per cent discount on premiums, people who switch to Philip Morris' iQOS for three months get a 25 per cent discount and people who quit smoking for at least a year get a 50 per cent discount.
PMI said that it defines how big a discount is to give people for the use of alternative products based on scientific data along with the potential of a product to reduce a person's risk, according to the report.
CEO Andre Calantzopoulos told CNBC, that one day PMI hopes to stop selling cigarettes altogether: "Obviously that makes sense for public health and the people who smoke themselves, but it also makes sense for our shareholders because financially, as these products are not cigarettes, they benefit from lower excise taxes and better margins, so it's a win-win for everybody," he was quoted as saying. "That's why we all move in this direction, and the faster we move out of cigarettes the better for all of us," he added.