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Can I Get Non-Smoker Life Insurance Rates if I’m Only Vaping?

man vaping in a bar

By Byron Udell | March 14, 2017

In recent years, some cigarette smokers have switched to a more socially acceptable form of nicotine delivery – vaping. So, since these electronic alternatives are lower in toxins than traditional tobacco cigarettes, what are the vaping life insurance options these days?

In certain circles, cigarette smoking has become rather unfashionable these days. You can’t smoke at your work desk. You can’t smoke inside public buildings. You can’t smoke on planes (whoever thought that was a good idea?). What’s a smoker to do?

According to the U.S. Surgeon General’s Report on Smoking and Health, smoking is the leading preventable cause of death in the United States, killing 480,000 people annually. There are over 7,000 known toxins and carcinogens in tobacco. Since the famous 1964 landmark Surgeon General report, many anti-smoking measures have been initiated over the past five decades, but one of the more effective methods of curtailing nicotine consumption has been statewide smoking bans, which began in California in 1995. Currently, 28 states have banned smoking in all enclosed public places.

Because of the effective implementation of smoking bans, some smokers have actually taken these not-so-subtle state restrictions as an incentive to quit their pack-a-day (or more) nicotine habit.

But still, others have taken a different approach to smoking – vaping.

Vapes are devices that heat a liquid nicotine cartridge, creating an inhalable vapor. It is claimed that the level of these toxins is much lower than in regular cigarettes.

What are the health risks of e-cigarettes?

Unfortunately, there are no long-term studies on the health effects caused by using a vape. Nor are there any uniform oversights over their manufacture.

So if you enjoy “vaping” (called such because you’re technically breathing vapor, rather than smoke) over smoking a traditional cigarette…does that mean you’ll be rewarded with lower life insurance rates than the Marlboro Man?

Well, not yet.

Effective August 8, 2016, the U.S. Food and Drug Administration (FDA), has ruled that e-cigarettes are now considered to be “tobacco products,” and thereby subject to federal regulation. In short, the FDA has put regular cigarettes and e-cigarettes in the same boat.

And that means that most life insurance companies will probably follow suit. Since most life insurance companies require a medical exam to qualify for a policy, the detection of nicotine in your blood will most likely put you in the same boat as traditional cigarette smokers. Which means that the best “non-smoker” rate classes will probably not be in the cards if you’re “vaping.” Sorry.

So until long-term health studies prove or disprove that e-cigarettes and vapes are less harmful than traditional cigarettes, the best rates you’ll probably get if you’re a “vaper” will be the “Preferred Smokers” rate. Yeah…“Preferred Smoker” is an actual rate class, not an oxymoron. At least for now.

Of course, that might change down the road. Who knows?

What we do know is that vaping has become increasingly popular. So while you probably won’t save big bucks on your life insurance anytime soon look on the bright side – you’ll no longer smell like an ashtray.

Hey, you have to take these victories where you can find them.

Now that you’re clear on the facts, take our nifty calculator for a spin. Once you’ve nailed down the coverage you need, give us a buzz. We’re old school so you’ll have to speak with a real person, but we’re guessing that’s the type of service you’d expect.

Nifty Life Insurance Calculator

Our Life Insurance Calculator can help you get a rough idea of how much coverage you’ll need to make sure your family is okay financially when you die.

  • Annual income before tax: $

    Annual income is an important factor in determining your needs, but it’s not the only one. When you die, your life insurance is like your final paycheck.

  • % of income needed by dependents:  %

    Because you’ll be gone, presumably they won’t need as much as you’re currently earning.  Typically, 80% of your current income is a good place to start.

  • Your Age: years

    The younger you are, the more years of your income your family stands to lose when you die.

  • Number of years benefits are needed:  

    If you died tomorrow, how many years of income do you want to provide for your family?

  • Annual inflation rate (estimate):  %

    Because of inflation, in order to maintain your family’s current standard of living, you’ll need to plan for increases in their annual income to keep pace.  Historically, inflation has averaged between 2% and 4%.

  • Annual interest rate (estimate):  %

    This is an assumption as to how much you believe your spouse will be able to earn on the death benefit proceeds. We have found that most surviving spouses are usually very conservative in how they invest the death benefit. The most common thing we see is that the money gets deposited into a bank account. You know your spouse better than anyone. Pick a number that you feel your spouse will be able to comfortably earn on the proceeds.

  • Based on the information you provided, you need about

    of life insurance to replace your income for the next years.

So what’s next? Call us at 8800-442-9899 and let’s chat about the types of coverage that may make the most sense for you.

Keep Reading and Learn How to Save Money for Life

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5 Things You Didn’t Know About Life Insurance

 

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