Could Vaping Cause Higher Life Insurance Costs?

Could Vaping Cause Higher Life Insurance Costs?

Vaping is said to be significantly worse than smoking a cigarette or cigar. Vaping has to lead to dozens of deaths due to the chemicals inside. This puts pressure on underwriters to either exclude vapers from insurance coverage or charge them higher rates. While normal tobacco users are already charged a higher rate, the rate for vaping could be even higher! “three major insurers have issued new warnings and provided updated advice on vaping in the past three months” states Aljazeera.

A Warning

Last year (2019) there were over 45 confirmed deaths due to vaping lung disease. Because of this not only is the government planning on implementing further restrictions on companies like Juul, but insurance premiums will raise their premiums in order to keep the overall premiums lower for non-vaping individuals. Insurance is already expensive. Is vaping really worth paying 3x what everyone else pays? Tobacco users already pay nearly 2x more in premiums than non-tobacco users.

What is Vaping Related Illness?

In another one of our articles on EmpowerHealth Jenny McCann talks about how the vaping illness is similar to chemical burns in most cases. “The Doctors describe “foamy macrophages and pneumocyte vacuolization was seen in all cases.” Macrophages are specialized cells of the immune system that respond to an infection or accumulating damaged or dead cells. The foamy appearance is “characteristic of chemical injuries” states McCann.

How do these cases affect me?

These cases affect anyone that vapes because they are susceptible to develop this illness, leading insurers open to a large chance of paying out. This means that since you are less likely to pay more into the policy before you pass, your premiums have to be higher. Otherwise, the insurance company would be setting themselves up for bankruptcy if they let individuals for higher chances of passing due to tobacco and vaping related causes. It’s always better to just skip the smoking altogether. However, if you do smoke, the best option is going to be smoking a cigarette, or simply not at all. Sticking to all-natural tobacco can also help prolong your life. You would no longer be inhaling toxic chemicals. Though even tobacco itself can be harmful to your body and lungs.

Get with one of our life and financial experts today! They can help you choose a policy. Additionally, they can conduct a policy review to ensure that your current policy is still right for you!

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