Despite the fact that most e-cigarette users have turned to vaping to quit smoking, in the United States they are lumped in with smokers when it comes to health insurance policies.
Normally, non-smokers, including vapers, are charged up to 50% less per year on their life insurance. That could equate to paying between $350 and $800 less per year, depending on other health-related factors. However, health insurers in the United States tend not to view e-cigarettes or vapes as cessation or risk-reduction tools, and insure vapers as they would smokers.
“If you believe, even given all the uncertainties, that vaping can be a form of harm reduction, from a public health and ethical perspective, the answer to that question is obvious,” said Ronald Bayer, professor of sociomedical sciences. in Colombia. “People should be encouraged to move from one to the other, not discouraged.”
Life insurance policies in the UK vary
In the UK, the situation varies. The insurance company Lifeguarded recognizes the relatively reduced health risks of vaping compared to smoking, and offers premiums to vapers accordingly. To this end, it has become a member of the IBVTA.
The insurance company works in partnership with a general insurer who also recognizes that vapers are not exposed to the same health risks as smokers. Therefore, they are helping to create a unique opportunity for UK vaping businesses to increase customer loyalty, while helping smokers who make the switch save money in the long run.
Lifeguarded sales manager Matthew Thompson said he was happy to be part of the movement encouraging the vaping industry to be treated as an independent sector. “We are delighted to be affiliated with the IBVTA and want to reinforce the message that e-cigarettes and vaping should be treated as an independent sector, entirely separate from the tobacco industry.”
While IBVTA CEO Gillian Golden said thankfully vapers now have the option of working with a broker that no longer penalizes them for attempting to quit smoking via vaping. “We welcome Lifeguarded on board as an associate member. So many vapers have been penalized for life and critical illness coverage for far too long, and we look forward to working with a broker who understands the value of the independent vaping industry.
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