Vape your way to a lower life insurance premium

Looking for ways to reduce your life insurance premium? Vaping, instead of smoking, can reduce your outlay on this grudge purchase. And we’re not talking about a small saving either!

Being a smoker carries a huge price when applying for life insurance. After all, think of it from the insurer’s point of view. If you are consistently damaging your health with a product known to cause cancer and make you die younger, then of course we are going to charge you through the nose. And not by a small bit – if you are a smoker, you are facing a much larger premium compared to a non smoker.

So where does vaping fit in? Are vapers classified as smokers? How will their life insurance premium be affected? Read on to find out.

The difference in premium

The difference in premium between a smoker and non-smoker when applying for life insurance is huge. To find out some exact figures I received a quote using this life insurance calculator which compares multiple insurance companies and distinguishes between smokers and non-smokers.

Applicant: Smoker

Date of birth: 1/1/1990

Life Insurance: Cover of €500,000, over 20 years, paying yearly

smoker insurance

Applicant: Non smoker

Date of birth: 1/1/1990

Life Insurance: Cover of €500,000, over 20 years, paying yearly

nonsmokerinsurance

These quotes show that a smoker will pay up to 158% more than a non smoker.

To be classified as a non-smoker you will have to be off tobacco products for a minimum of 12 months. I’d try vaping now if I was you!

Vaping and smoking

The lines are still blurred when making the distinction between a smoker and a vaper (we know better though). So you can expect any insurance company to be cautious when it comes to this matter. However, the tides are slowly changing and some insurance companies are seeing the difference. Some Irish insurance companies are now treating e cigarette users as non-smokers, but not all of them. You will need to seek advice from a Broker to find the best deal for you.

A heavier wallet

We spoke before about how vaping can save the average smoker €3,200 a year. But that was simply due to the cost of purchasing the materials. By taking into account your insurance premium you are looking at a save of a lot more than that.

If you weren’t convinced of the financial benefit of vaping, you should be now.

So if you are a smoker then why not make the switch to e cigarettes today? Here at Wicked e-juice we are the only Irish manufacturer of e juice. We have a range of high quality starter kits and e juices to get you going on your journey to a heavier wallet.