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  • Can e-cig users get term life insurance? Read to know more

    Published on February 5, 2020

    There is no denying that smoking is an unhealthy habit. Smoking can not only have hazardous impact on your health but also the people inhaling smoke around you. Due to its harmful effects, many of you might try to give up on your smoking habit. While many of you might completely quit smoking, the rest of you might try to adopt new techniques in the hope to stop smoking.

    Since smoking might put you at the risk of losing your life, you might give up on your addiction since your family might be financially dependent on you. If anything happens to you due to your consistent smoking, your family might be unable to bear your loss emotionally as well as financially. Therefore, you might follow the vaping technique due to your love for your family members.

    Vaping can be inhaling of the vapour created by an electronic cigarette (e-cig). E-cigs are generally a battery powered device that can emit non-nicotine solution to inhale. The primary idea behind e-cig can be to help you quit smoking. Since e-cigs have been launched recently, many insurance companies might have not yet standardised the way they treat vape users. Typically, you might have to pay a relatively higher premium than non-smokers if you buy term insurance. Although your insurer can charge you a high premium amount, it can depend on what you prefer to vape:

    Many of you might smoke the nicotine-based e-cig. Vaping nicotine-based cigarettes can be safer in comparison with the traditional cigarettes. However, many insurance companies charge tobacco rates for e-cigs. If you use anything other than e-cigs, your insurer might still consider to lower the premium rate. Since insurers look at e-cigs as tobacco delivery systems, they might charge you with a high premium rate.

    Apart from the inhaling substance, the insurance coverage can depend on other two essential things. Let’s go through the following two factors mentioned below that can determine your insurance coverage:

    1. Vaping frequency

    Every insurance company has its set of rules based on how often you vape. For instance, specific insurance companies might treat you as a smoker if you have vaped nicotine-based e-cigs within a year. The rest of the insurance companies might not provide you with the premium rates that are applicable for non-smokers if you haven’t consistently vaped for 4-5 years.

    1. Selected insurer

    The type of insurance company can play a crucial role if you want to buy term insurance as a vaper. A credible insurance company can provide coverage based on their treatment of vapers. Therefore, see to it that you calculate the premium amount on a term insurance premium calculator beforehand.

    Although vaping can be safer than smoking, you might be out of luck with your insurance coverage. Moreover, many insurers might not even count you as a non-smoker. If you are unable to look for an affordable term insurance with maximum benefits, you should go through the following alternatives given below:

    • Quit completely

    Although vaping can be a healthy option, quitting smoking can be the wise solution. When you quit smoking, your insurer can automatically treat you as a non-smoker. Hence, the premium rates would decrease since there is zero involvement of tobacco rates.

    • Stick to your company insurance

    As a working member, your organization can cover you under a group life insurance plan. When you are a part of a group insurance, you can receive coverage for the amount you pay irrespective of your smoking habits.

    • Seek professional help

    It’s easier for smokers and non-smokers to purchase term insurance. However, it can be quite tricky for you to buy a term policy if you are into vaping. As a vaper, you should disclose your information accurately to your insurer without hiding any details.

    As highlighted above, although vaping can help you to quit smoking, your insurer might not view it the same way. Before purchasing a policy with maximum term insurance benefits, you should speak to a financial expert regarding the same. It is important to disclose all information of yourself in good spirit so that the insurer can evaluate your case accordingly to define your eligibility and help you get your loved ones secure.