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 are going to impact your life insurance plan. 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 is different, and all of them are going to view 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. It’s important that you find a company that is going to give you the most affordable policy to meet your needs. 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.
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. Our agents work with dozens of highly rated companies across the nation, which means that we can bring all of the best plans directly to you, without the hassle of calling all of those companies yourself.
If you’re listed as a smoker on your life insurance application, then you can expect to pay much higher premiums for your coverage. In fact, smokers are going to pay around twice as much for life insurance versus what a non-smoker is going to pay for the same sized plan. If you want to save money, it’s vital that you find a company that is going to view your vaping more favorably.
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 save you thousands of dollars on your insurance coverage.
Before the insurance company approves your application, they are going to require that you take a medical exam. The results of the medical exam are going to play a huge role in how much you pay for your life insurance. If you want to save money, you’ll need to get better results.
Two ways that you can improve your health are by starting an exercise program and sticking to a healthy diet. Both of these can help you lose weight, lower your cholesterol, lower your blood pressure, and reduce your chances of being diagnosed with any health complications. If you want to save money, you’ll need to lace up those running shoes and hit the gym.
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 is a long and complicated process, but it’s one of the most important things that you’ll ever buy for your family. It’s one of the only ways that you can ensure that your loved ones will have the money that they need.
Nobody wants to think about his or her death, but not planning for the inevitable is one of the worst mistakes that you could make. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves. If you have any questions about vaping and life insurance, please contact one of our agents today. We would be happy to answer those questions and connect you with the best plan to meet your needs.