How E-Cigarettes Affect Life Insurance

  • Posted 26 Sep

How E-Cigarettes Affect Life Insurance

People have known for years that smoking isn’t good for them. Smoking cigarettes has been directly linked to all kinds of health conditions, and because of this, there are penalties for those who smoke when it comes to buying health and life insurance.

With the e-cigarette revolution, there have been a lot of questions around these alternative cigarettes that now need to be answered, particularly in relation to health and life insurance premiums.

What Is An E-Cigarette?

The simple answer is that an electronic cigarette (or e-cigarette, or e-cig) is a small, electronic device that heats up a vial of liquid. The liquid turns into a vapor, and that vapor is inhaled the way smoke would have been from a traditional cigarette.

This is called vaping, and it’s generally considered healthier than traditional smoking because there’s no tobacco, tar, or other chemicals that you would be inhaling if you were smoking a traditional cigarette. There’s just water vapor and flavour.

So What’s The Problem?

In Australia it’s legal to buy e-cigarettes, and it’s legal to buy vials that have flavour but no nicotine in them. It’s also legal to buy vials that contain nicotine juice from overseas and to have those vials sent directly to an individual’s home. However, this is where things can get a little complicated as far as the law and insurance premiums are concerned.

In Australia, anyone who has smoked cigarettes, used a tobacco replacement product, or who has smoked marijuana within the past 12 months or so, is subject to smoker premiums when it comes to life insurance.

The question of whether or not vaping will also incur a smoker’s premium depends on what that person is inhaling in the vapor. If he or she can prove that the vials being used have no nicotine in them, then it’s possible to get away with avoiding smoker premiums; but that will still take a bit of negotiation with an insurance provider.

Why All The Concern?

The reason there’s so much concern over vaping is that there’s so little hard, scientific fact about the practice. While it seems all right on the surface, there have been no real, long-term studies that can confirm vaping is less harmful than more traditional forms of smoking.

Given that a wrong move on the part of an insurance provider can mean a lot of money walking straight out the door, these providers want to make absolutely sure that vaping is in fact an activity with no adverse affects on health that won’t speed up the demise of those who participate.

Until there is definitive, inarguable proof showing that nicotine juice vaping is less harmful than smoking, then those who use these types of e-cigarettes in Australia, will have to pay the same smoker premiums on life insurance, as well as health insurance.

For those who were looking for a reason to quit smoking (in all its various forms), there’s no better one than this.

If you need more information regarding your life insurance costs then all you need to do is get in touch with our experts who will be able to better guide you about all your life insurance needs.

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