How Do Vaping and e-Cigarettes Affect Life Insurance?

Vaping and e-cigarettes have become increasing popular in recent years.

What most people don't know is that they can affect your life insurance rates.

Whether you vape for fun or are trying to quit smoking by switching to vaping, it may seem like a safe alternative. 

Here's what you need to know when it comes to vaping, e-cigarettes, and life insurance.

How does vaping and smoking e-Cigarettes affect life insurance?

Your age, gender, health, and lifestyle are important factors when it comes to determining the cost of your life insurance. 

Smokers can expect to pay more for life insurance than non-smokers. But what about if you vape?

Vaping does affect your life insurance premiums. Most insurance companies see e-cigarette users, vapers, and regular cigarette smokers as the same, no matter how often or how much nicotine they use. 

Any use of these products in the previous 12 months qualifies you as a smoker. Similar to smoking cigarettes, long-term vaping has been linked to various lung and other related health problems. Therefore, life insurance companies view smokers as higher risk individuals, which results in higher monthly rates.

Life Insurance Classification

The good news is that your life insurance classification will differ depending on your vaping habits and the insurance company with which you apply. Generally, the higher your classification, the higher your price. Here’s a rating table with additional details about each class.

When will I get non-smoker rates?

To be classified as a non-smoker, you should have no tobacco or nicotine usage in the past year. 

Once you quit vaping and smoking for a year, you will be required to take a medical exam to see if you are classified as a non-smoker. This test includes a physical examination and a questionnaire about your smoking habits. Rates for non-smokers are usually much lower than rates for smokers, so it's important to take the test to qualify.

What if I start smoking after applying for life insurance?

If you already have a life insurance policy and it was issued to you as a non-smoker, smoking will not increase your premiums.

A change in the insured person's lifestyle or health does not impact the policy after it is issued. Insurance companies factor in the likelihood that a non-smoker will begin smoking in their non-smoker rates. 

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Ways to save money on life insurance if you vape

There are a few things you can do to save money on your life insurance policy. 

• Change Life Insurance companies

If you believe you are overpaying for life insurance, compare quotes from different life insurance companies. Some insurers charges different prices for cigarette and non-tobacco smokers.

• Quit Smoking/Vaping

You might be able to get a better deal on your insurance if you give up vaping and are no longer classified as a smoker. When applying for life insurance, most insurers will treat you as a nonsmoker if you have been smoke-free for at least 12 months. Companies like Foresters offer lower rates on day 1 if you're looking to quit smoking and can provide it overtime.

• Improved Health

If your present overall health places you in the high-risk category and you are a vaper, you may want to consider taking steps to improve your health. That could include losing weight if you have a high body mass index, taking prescribed medications for any pre existing diseases, and more.

Conclusion

As a vape and e-Cigarette user, you are likely to be consider a smoker. Insurance companies will charge higher premiums because of your perceived higher risk.

While vaping will increase the cost of your life insurance premium, a Dundas Life expert advisor can work with you to find the most affordable policy that meets your life insurance needs.