Two of the main factors which determine your premium for life insurance are age and health. But the very next, and arguably one of the main factors also, is whether or not you smoke. Vaping and life insurance is also considered.
Those who smoke can invariably assume to pay double or even more for their life insurance when compared to their non-smoking counterparts. But what if you don’t smoke, and vape instead?
You can now qualify for non-smoking rates!
We can show you how.
First, let’s explore what vaping is, and why it might be turning the heads of the insurance companies.
What Is Vaping?
Vaping is an alternative to smoking traditional cigarettes, and is an increasingly popular practice for those who are either looking to quit, or who are looking for a healthier means of smoking.
Vaping is actually an electronic tool used to create a smoke-like vapor consisting of a few basic parts : a shell, a cartridge, an atomizer, eliquid, and a battery. There are other accessories you can modify and change, and models which are much more complex, but these components make up the tool.
- The shell, which is usually the main large piece you see, comes in many forms. Each is crafted for visual appeal as well as functionality, and each boasts different capacities for which it can contain, from small cigarette-like shapes, to much more complex and large shells.
- The battery is what powers the atomizer, and comes in different forms. There are basic batteries and variable batteries. A basic battery usually provides just a single power source giving the user just a singular style of usability, where the variable power sources allow the user to use low, medium, and high drags.
- The atomizer is “where the magic happens” as it is what uses the eqliquid and a heating coil to produce the vapor the user actually inhales. When the user takes a drag, the atomizer heats up quickly and literally turns the eqliquid into a vapor, and it passes through the unit through the mouthpiece as “smoke.”
- The cartridge is what contains the eliquid, and is usually a clear piece so the user knows how much eliquid they have remaining. The cartridge and atomizer can also come in one piece, called a cartomizer.
The History Of Vaping
Created in 2003, Hon Lik of Ruyan in China holds the original patent for the e-cig design and function, and holds the patent in over 40 different countries worldwide.
It did not however make its way to the United States until a few years later. And it wasn’t all smooth sailing. Unfortunately, the United States didn’t immediately have a way of classifying the tool because there have been so little studies done on it’s consumer use.
It’s purpose is still not completely defined, as some use it as a direct alternative to smoking without the intention of discontinuing, while others use it strictly to ween themselves away from smoking altogether.
What Are The Benefits Of Vaping
There are a lot of reasons why someone might want to vape instead of smoke:
- Public Use – Many places which do not allow smoking may still allow vaping.
- Cost – The overall cost of vaping is a significant savings when compared to traditional cigarettes.
- To Stop Smoking – Vaping has proved itself to many consumers to be a much more enticing way to quit than patches, prescriptions, or cold turkey.
- Health Benefits – Although not proven to be safe in the long run, vaping does allow the user to bypass over 4,000 toxins which are in cigarettes.
- Enjoyment – Vaping now offers so many flavors, the user is not stuck with the basic tobacco taste.
- Health Concerns – Someone who is restricted from smoking, such as someone with COPD, might be able to vape as an alternative.
- Smell – The smoke from vaping does not have the pungent odor of traditional cigarettes.
As the practice of vaping becomes more relevant, users continue to find more reasons why they love vaping as opposed to (or even in addition to) traditional smoking.
I spoke with Orit Deverell of VaVaVape, who owns multiple retail shops as well as an online warehouse for all things vape about the benefits she hears from her clients.
Most of our clients are regular clients who vape just as an alternative, but we have plenty of clients who have successfully quit smoking by vaping as well. There are other methods, like the patch, but vaping fulfills your habits, not just your needs. I even encourage some of my clients to keep their cigarettes in their purse, just for comfort. I did when I quit. But eventually, you’ll just get rid of them. The best thing of all, they love how much money they save! We have starter kits and refills which can last a week, and cost the same as just one pack of cigarettes!
The main benefit she mentioned was the ability to kick the habits of smoking, not just the physical needs. Someone who tries to quit cold turkey is used to the hand-to-mouth movement, or even going out back after a long day and having a smoke on the porch. Vaping allows users to keep doing this, and not feel they have given up the entire habit right away.
Vaping And Life Insurance
So how does all of this relate to life insurance?
Vaping is still considered smoking by almost every single life insurance company available, except one, because of the nicotine still involved in vaping, and the lack of studies surrounding vaping. Vaping and life insurance is too new of a a topic to have enough evidence on long term health, so many companies are still shunning the idea of awarding non-smoker rates to those who have not completely stopped.
All but one.
One company issues non-smoker, and even non-smoker plus ratings to those who have ceased all cigarette smoking for over a year, and vape instead.
There are, of course, a few limitations. The first being only one available company to deal with. The second is having to qualify for life insurance all over again. If your health has deteriorated since you last bought your current policy, you may have to keep what you have. If you are still mostly healthy, you can apply now to see if you qualify for the drastically reduced premiums.
Vaping and life insurance is now going to affect millions of consumers who have been forced to pay smoker premiums. Instead, they might be able to cut their bills in half.
Health Concerns Of Vaping Remaining
So why is there only one company who is willing to insure someone who vapes at a non-smoker rating? The health concerns associated with nicotine, are still atop the list.
One of the reasons smokers find cigarette smoking so addictive is nicotine, which is a stimulant. It most often will increase the heart rate of someone who takes it in, and will likely raise their blood pressure as well. Nicotine is what triggers the response centers in the brain to help someone feel relaxed, more focused, or even somewhat euphoric. Overtime, however, this causes dependency as smokers tend to need more and more to get the same feelings as their first drag.
Increased blood pressure and heart rate also can have long term negative affects on the human body, and this is exactly what the insurance companies are looking for. The long term hazards to your health, or even your life span, are the reasons you end up paying the higher premiums.
Don’t worry, I hadn’t heard of it either. Diethylene Glycol, or DEG for short, is an organic solvent, but could be potentially harmful if consumed through vapor or in larger quantities. It’s a chemical used in things like glue, inks and dyes, even antifreeze. But it’s also found in deodorants, soaps and lotions, so don’t go clawing your eyes out if you think you’ve been exposed.
Extensive amounts of direct ingestion could be very harmful to the body, but it’s very unlikely through vaping. However, there is still not enough research done to conclude if there is any danger of DEG through vaping. Because it is taken in via vapor, and not through your skin or oral ingestion, the results can vary greatly.
Vaping And Underwriting
If you’re ready to apply for life insurance and vaping is something you won’t be giving up any time soon, there are a few things you should know before you get started.
The underwriting process for life insurance is going to be more than just whether you smoke or vape, or neither. You are still going to have to qualify for life insurance based on all the other factors any other person does. This means your current health, your past medical history, your driving record, and other factors, such as family history.
Just because you vape now does not mean you don’t have long term effects from having smoked for a number of years previously. The insurance company is still going to see if you’ve suffered any ill effects like chronic high blood pressure, or even COPD.
The key to remember is this: Be upfront and tell them everything you can!
The common reaction for consumers when applying for life insurance is to keep as many secrets as possible, and try to sneak through the process with the best rating. Unfortunately, it just doesn’t work that way! In fact, the less the underwriters know, the more likely they will need to search further into your profile. Be honest and trustworthy, and you’ll probably do just fine.
Buying Life Insurance And Vaping
So you haven’t smoked a cigarette in a year, you are currently vaping, and your health is in good order?
It’s time to apply for your life insurance to see if you can get the best rating available. Remember, you can’t just go to any company, and as far as we know at this time, there is only one who is offering the non-smoker rating to those who vape. You’ll need to use this company to get the lowest premium.
You’ll also need to speak with an independent agency, like us, who is knowledgeable on the subject and can assist you all the way through the entire underwriting process to ensure you get the top ratings. Remember, the better your rating, the cheaper it will be for you.