If you are a current or former smoker, then you know how difficult it can be to quit. Throughout the years, many people have tried countless remedies such as nicotine gum, the “patch,” and other ways to help them with “kicking the habit.” Today, however, there is a new potential solution – the electronic cigarette, or e-cig.
This new invention has not only helped former smokers to cut down on their tobacco usage, though, but they have also started a new trend in the smoking world. Yet, because using these devices is still considered to be smoking, it is important to know how life insurance companies view them when applying for coverage.
When you apply for life insurance coverage, the company is going to review dozens of different factors to decide how much they are going to charge you for your insurance protection. You probably know that if you smoke traditional cigarettes, then you’re going to face higher premiums, but a lot of people don’t know how e-cigs are going to impact your life insurance premiums.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s one of the only ways that you can ensure that they have the money that they need, but shopping for life insurance can be a confusing process. That’s why we are here to help. It’s our mission to ensure that you’re getting the best life insurance coverage for you and your family.
How Do Life Insurance Companies View Electronic Cigarettes?
One of the biggest questions for those who use electronic cigarettes is whether they will be considered as a non-smoker or a smoker on their life insurance application. Although the user of an electronic cigarette actually inhales vapor, there is technically no smoke or burning that takes place when using one of these devices. Yet, the user oftentimes still uses nicotine in a liquid form.
How to Answer on a Life Insurance Application
Those who use tobacco will pay different premium rates for life insurance than those who do not. When applying for life insurance coverage, you will be asked when the last time was that you used either cigarettes or other types of nicotine products. Because of this, you will need to answer in the affirmative if you have used an e-cigarette that contained nicotine.
Typically, life insurance companies will require that applicants provide a blood and urine sample during a paramedical exam. In this there are many factors that are tested. Among these tests, the insurance company will be able to verify whether or not you have used nicotine in the recent past. It is through this exam that your premium rates are oftentimes determined.
What Else the Insurance Underwriters Will Want to Know
Just as with applying for any other type of life insurance coverage, the underwriters will also need to know your basic information in order to determine whether or not you will qualify for coverage based on your age, health, and other conditions. Questions on the application will be asked about your:
- Weight (as it relates to your height)
- Alcohol usage
- Occupation and income
- Foreign travel
- Overall health condition
- Family health history
In addition, the underwriters will also typically inquire about any other life insurance coverage that you may have in force. This is because having too much life insurance is often seen as a negative. All of these factors are going to be reviewed to decide how much you’re going to pay. They are going to look at these factors and run all of them through their medical underwriting and rating system.
If you have any specific health condition such as diabetes or an irregular heartbeat, the underwriters will also need to obtain additional details about your condition in order to get a clearer idea about the potential additional risk.
Some of the questions that you may be asked regarding your condition may include:
- When was your condition initially diagnosed?
- How is your condition being treated?
- What, if any, medications are you taking for your condition?
- How often do you visit your doctor for your condition?
- What tests, if any, have you had done due to your condition, and when were they performed?
If you are able to control your health condition through diet, exercise, or in some other manner, it is important to note this either on the life insurance application itself or on a separate sheet of paper. This can help the underwriters in understanding that you are taking precautions to control your condition, in turn, reducing the risk that the insurer is taking if they should issue you the coverage.
Once all of your information has been reviewed, the underwriters will be able to make a determination regarding your life insurance coverage, your policy rating class, and your premium amount.
Is the Premium Higher on Life Insurance for E-Cigarette Smokers?
There are numerous criteria that have a bearing on the premiums that are charged for life insurance. Whether or not a person is a smoker, however, is one of the more prominent of these factors.
At this time, because there is still very little that is known about the long term health effects of electronic cigarettes, most insurance companies are playing it safe and issuing smoker’s rates to applicants who use these devices.
In some cases, it may be possible to qualify for a Standard Plus non-smoker premium rate. In order to obtain this rate, however, an individual will typically have to have not used regular cigarettes in the past year. A blood and urine sample will also typically be taken in order to verify this factor.
Not only are the e-cigs going to impact your premiums, but your overall health is going to play a role in how much you pay as well. Before the insurance company approves your application, they are going to require that you take a medical exam, unless you choose to purchase a no medical exam policy which will come with higher premium rates, and the results determine your premiums. If you want to save money, then it’s important that you improve your overall health. If you want to save money, the you will need to get regular exercise and make healthier dietary choices. Both of these can help you lose weight and reduce your chances of being diagnosed with health complications.
Where to Purchase Life Insurance
When it comes to applying for life insurance, there are many options for those who use electronic cigarettes. Because these devices have already helped so many people to quit smoking regular cigarettes, it is likely that their popularity will continue to grow over time.
If you or someone you know wants to purchase life insurance for e-cigarette smokers, there are some things that you should do prior to moving forward. First, it is always a good idea to compare different life insurance policies and premium rates. This is because both coverage and costs can vary a great deal from one carrier to another.
We work with many of the top rated life insurance carriers in the industry, know how to navigate around companies that want to rate you for high risk life insurance, and we can help you in comparing quotes. You can fill in and submit the form on this page to get the process started. In addition, we understand that you may have many additional questions regarding life insurance for e-cigarette smokers, how to obtain premium quotes, or even about life insurance in general. If so, we’re here to help.
Unlike traditional insurance agents, we don’t only represent one single company. Instead, we are a group of independent brokers and we work with the best companies across the nation. Simply fill out the quote form, and we can bring a set of personalized quotes directly to you in a matter of minutes. If you tried to gather all of these quotes yourself, you could spend days calling companies. Working with us can save you both time and money.
Please feel free to contact us directly, toll-free, at 888-229-7522. We can help to answer any of the questions or concerns that you may have so that you can move forward with obtaining the coverage that you need and the peace of mind that you deserve.
We know that shopping for life insurance is never going to be fun. Nobody wants to think about his or her own death, but it’s vital that you plan for the worst. Not having life insurance protection is one of the worst things that you can ever do for your loved ones. If you were to pass away without insurance coverage, then your family would not only have to struggle through the emotional pain, but they would suffer financially as well.
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. Please contact us today, and we would be happy to connect you with the perfect life insurance plan to meet your needs.