The first line, well, he's probably trying to tell the person the dangers of smoking... so there's really no insult there. The second line, well, that's an insult right there. But then in the next line he's trying to take back the insult? Well, why write an insulting line if you intend to cancel it out in the next line? Maybe he was attempting to make a rhyme with "cough." As for the last line, there may or may not be any insulting involved...it seems to say that he'd probably give the person all but one penny. (I posted just this line in the "Funny" lyrics section and gave some commentary on it there.)