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.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s vital that you get the coverage that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, your family would be stuck with a massive amount of debt and other final expenses. Not planning for the inevitable is one of the worst mistakes that you could ever make for your loved ones.
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. So the answer to this question is it depends. Just like some companies treat rates for chewing tobacco users the same as cigarette smokers and others do not, the same applies for e-cigs. Companies have reasons for the way they rate people but the reasons are very different from company to company. We have even been able to get marijuana users non-smoker rates with some companies. So working with someone who knows the nicotine market for life insurance is key to getting the lowest premiums.
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 (chewing tobacco, snuff, etc.). 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, though there are some companies that offer a life insurance policy with no medical exam, at a higher price of course.
With a no medical exam, you won’t be required to take the medical exam (as you can guess by the name), but you’ll still be required to take the health questionnaire, which is going to be dozens of questions about your current health and your family history. With these plans, the company will still look at your medical records, prescription records and your driving records.
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.
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.
If you want to get lower rates on your life insurance coverage, you need to spend some time focusing on your health before you apply for life insurance. In just about every case, it’s possible to get cheap life insurance, even if you have a pre-existing health conditions. For example, if you’re overweight, then you’re going to pay more for your life insurance plan versus what you would pay if you shed some of those extra pounds. Losing weight can save you around 50% on your life insurance premiums.
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. They are going to use all of the information to decide how much risk that you are for life insurance protection. The more risk that you are, the more that they are going to charge you every month. If you’re too great of a risk, they will reject your application for life insurance.
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.
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 smokers rates, 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.
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.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait another day to get a quality life insurance policy in place. You can’t predict the future, which means that you shouldn’t wait another day to get the protection that your loved ones deserve.
Nobody wants to think about anything tragic happening to them, but not planning for the inevitable is one of the biggest mistakes that you could ever make. We are here to make the process as quick and simple as possible.