LIFE INSURANCE IF YOU VAPE

We all know smoking tobacco is bad for health, and there is no question about that. However, there is no consensus about vaping or using e-cigarettes. Most insurance companies are unsure about classifying them as smokers or not, but some companies will offer you lower premiums if you are vaping instead of smoking tobacco.

WHAT YOU SHOULD KEEP IN MIND ABOUT SMOKING AND LIFE INSURANCE

Insurance companies are always cautious about smoking when it comes to life insurance policies. Smoking affects your health adversely, so it is only natural that your premiums will be higher than a non-smoker with life insurance if you smoke or had smoked in the last 12 months. It usually does not matter how fit or healthy you are if you smoke. It is considered high risk, and the premiums are accordingly. On the other hand, if you are using e-cigs, some insurance companies will offer you lower premiums and allow you to benefit from a life insurance policy at the best possible rates.

THE ADVANTAGES OF VAPING WHEN IT COMES TO LOWER PREMIUM

If you used pipe tobacco, cigars, nicotine gums and patches, chewing tobacco or if you are using tobacco for cannabis smoking you will be considered a smoker. However, if you are using an e-cigarette, you may get rates very close to non-smoker rates because of the declining risk that you represent.

Better understanding with Life case study

Mr A is in his 40s and doesn’t smoke but has been vaping. He wants to get life insurance to cover his mortgages. Because he is not using tobacco products, he can benefit from a premium which will be third times cheaper than it would be for smokers. He will get level term insurance for a sum of £250,000 for the next  27 years with a monthly premium of £27.48.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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