LAST April’s launch of UK life insurer Reviti, a wholly owned subsidiary of Philip Morris International, marks a new milestone of absurdity in the story arc of the tobacco industry.

People who switched to e-cigarettes would be offered a 2.5% discount on Reviti insurance premiums. Those switching to Philip Morris’ heated tobacco product iQOS would receive a 25% discount. Those who quit smoking for at least a year would receive a discount of 50%. Reviti is already talking about expanding beyond the UK market.