• How do life insurance companies decide if I am a smoker?
• What about vapers?
• How can I find the best cover?

How do life insurance companies decide if I am a smoker?

Although this seems a clear-cut question, there are subtle differences between life insurance providers that can make a significant difference to whether you are accepted and how much you pay. 

Generally speaking, anyone that has smoked a cigarette, cigar, pipe, or used any nicotine replacement devices including e-cigarettes, patches or even gums within the past 12 months will be considered a ‘smoker’ when it comes to insurance rates. 

After this period, some insurers will charge ex-smokers the same standard rate as anyone else. However, others will still increase their premiums for ex-smokers for up to five years after they have quit.

What about vapers?

Once again, different insurers have different criteria when it comes to how they classify vaping and e-cigarettes.

Some insurers classify vaping the same as they would smoking and increase the premiums. Meanwhile, others can offer standard rates for those who only vape non-nicotine products.

How can I find the best cover?

There are other exceptions to these rules. For example, one insurance company allows individuals to smoke up to 12 cigars a year while still charging non-smoker rates. Finding and navigating your way through all these differences can be a challenge. 

An Independent Financial Adviser can help you find the insurance that is best for you. They stay up to date with changes in how life insurance providers classify different medical conditions. If you would like to see if you are eligible for life insurance, feel free to contact us for more information.