Everyone knows that smoking cigarettes can have drastic negative effects on your body, which is going to mean much higher life insurance premiums. Electronic cigarettes have exploded onto the market and quickly gained popularity.
It’s left a lot of applicants and insurance companies scratching their heads trying to decide how they should view “vapers,” and what to charge them for life insurance coverage. When you’re shopping for life insurance protection, it’s important that you find the best rates for your coverage.
This article is going to explore electronic cigarettes and how they can change your coverage. It’s our mission to ensure that smokers are getting the best insurance to meet their needs.
E-Cigs And Life Insurance Companies
Every insurance company views e-cigs differently. There is not a lot of research done on the long-term health of e-cig smokers, which means insurance companies are unsure of what they should do about life insurance rates for anyone that vapes.
Because they’re still new, we don’t know what’s going to happen to smokers in the long-term. The insurance company is trying to decide how much of a risk vapers are, but since they don’t know, most insurance companies are going to automatically give you smoker’s rates.
Another problem with electronic cigarettes is that they are not regulated by the FDA. There are no rules and regulations on how electronic cigarettes are managed. Because there are no regulations on the mechanics, insurance companies are going to be warier of them.
E-Cigs VS. Traditional Cigs
Electronic cigarettes come in a variety of different types and kinds. Some smokers use e-cigs to use vaping to quit traditional cigarettes. There are some e-cigs that you can buy that have zero nicotine, and thousands and thousands of smokers are used it to quit their traditional cigarette habit. On the surface, that may seem like an excellent way to improve your health.
Only time will tell if the electronic version is better than their traditional counterpart. As for now, if you vape, you’ll find that you get drastically different rates depending on which company that you get the quote from. Most companies are going to give you smoker’s rates, but other companies are going to offer you much more affordable non-smokers rates. Around 90% of underwriters say that they consider e-cigs smoking, but that means that there are around 10% that will still give you non-smokers rates.
If they classify you as a smoker, you’ll need to prepare for rates twice as high. On the other hand, if the company doesn’t view your e-cigs as smoking, you can enjoy cheaper coverage.
Getting Affordable Life Insurance With Electronic Cigarettes
Aside from getting dozens of quotes, it’s important that you make some changes to get the lowest insurance premiums available. There are a few simple lifestyle changes that you can add that will lower your rates.
The insurance company is going to require a medical exam. The medical exam is how they get a detailed view of your health. If they see you’re in better health, you get cheaper premiums.
Two ways that you can improve your health are by starting an exercise program and start a diet. Each of these can have a wonderful impact on your health.
Another way to save money is to cut out any dangerous hobbies that you have. If you enjoy skydiving or rock climbing on the weekends, then you’re going to be considered a high-risk applicant, and that is going to translate into much higher insurance premiums. If you want to save money, then you’ll need to find safer hobbies.
E-Cigs and Life Insurance
We know that shopping for life insurance is not a fun experience. It can be long and tedious, but it’s essential. It’s one of the only ways that you can ensure that your loved ones will have the money that they need.
There are thousands and thousands of different companies on the market, which means that you could spend weeks calling different companies to get the best rates. Instead, let one of our independent agents get all of the best rates for you. Giving us a call is like calling dozens of carriers instantly.
Think of your life insurance as a very big safety net. It’s there if you need it, but not having it can lead to some serious problems.