If you’re 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.
Getting life insurance is one of life’s most important decisions that has to be made. It’s vital that you get the coverage that your family deserves. If something terrible were to occur and you did not have life insurance, your family would be stuck with a huge quantity of debt and other final expenses. Not being prepared for the worst is one of the most critical mistakes that you could ever do to your loved ones.
How Do Life Insurance Companies View Electronic Cigarettes?
One of the biggest questions for people who use electronic cigarettes is whether they might be considered 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 burning or smoke 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 appealing for life support coverage, you will be asked when the latest time was that you used either cigarettes or any 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 urine and blood sample during a paramedical exam. In this, there are several 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 give 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 will have 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
The same as with applying for any other type of life insurance policy, the underwriters will also want 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.
Anything such an irregular heartbeat that you might have, the underwriters will also need to obtain additional details about your condition in hopes to get a more precise idea about the potential additional risk.
Some questions that you might be asked regarding your condition may include:
- When was your condition initially diagnosed?
- How is your condition being treated?
- Are you taking any medications 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 note of some sort. This can help provide underwriters more understanding that you have been taking precautions to control your condition, in turn, reducing the risk that the insurer is taking if they should issue you protection.
If you would like to get economical rates on life insurance coverage, you need to spend some time focusing on your well-being before you ask for life insurance. In just about every case, it’s possible to get cheap life insurance, even if you might have a pre-existing health condition. For example, if you’re over the average amount of weight, then you will probably have to pay a higher amount for life insurance versus what you would pay if you shed some of those extra pounds. Losing weight can save you around 50% on your insurance premiums.
Once all the info has been examined, the underwriters will be ready to make a decision concerning your insurance plan, 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 higher risk you may be, the more you might have to pay on a monthly basis. 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 required 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 likely to pass 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 several options for people 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 proceed to increase over time.
If you want to purchase life insurance for e-cig smokers, there are some things that you should do prior to moving forward. First, it is always a great plan to analyze different life insurance policies and premium rates. This is because both coverage and costs can diversify a greatly from one to another.
We work with a lot of the best-rated firms in the country and 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 out and submit the form on our page to get the process started. In addition, we realize that you will probably have some further questions about life insurance for e-cig smokers, how to get premium quotes, or even about insurance in general. If this is the case, we would love to help you.
Please feel open to call us directly, toll-free, at 888-229-7522. We can support you and explain any of the concerns or anything else you may hold so that you can move forward with obtaining the coverage that you need and the peace you want.
Anything could happen, even tomorrow, which means that you should not delay another day to get a quality life insurance system in place. The future can hold anything, which suggests that you shouldn’t wait another moment to get the protection that your loved ones deserve.
Nobody wants to think about anything tragic happening to them, but not preparing for the necessary is one of the biggest errors that you could ever make. We are here to make the method as fast and easy as possible.