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Will Electronic Cigarettes make life insurance cheaper?

Posted by Brian Geraghy on

Yet more good news from the Paddy Puff land of E-cigarettes- using electronic cigarettes as an alternative to smoking will potentially reduce your payment on your life insurance. According to a new report published in The Telegraph, electronic cigarette users stand to save £1000  a year, on top of 40% reduction on premiums for life insurance.

This good news just adds to the growing chorus endorsing electronic cigarettes and more encouragement to avail of the great deals at paddypuff.com.

To try the best deals on the market, as an alternative to traditional smoking- try out our great eGo Kits, starting at just £19.99

Check out the full article below:

A 10-a-day smoker who quits tobacco-filled cigarettes and switches to “electronic” versions already stands to save more than £1,000 a year.

But they might also qualify for a 40pc reduction in life and health insurance premiums – if the wider industry follows the example of one insurer and agrees to treat “e-cig” users as “non-smokers”.

The rapid take-up of electronic cigarettes, which are tobacco-free and involve inhaling small quantities of vaporised nicotine, has taken governments and health authorities by surprise. There are already more than a million users in Britain. Many shops, including supermarkets, stock the devices. But the trend has not been properly addressed by the insurance industry – even though smoking remains one of the biggest factors in determining the price of cover.

A specialist insurance broker has focused attention on the matter by successfully arranging life cover, at non-smoking rates, for a number of clients who use only e-cigarettes. The insurer involved, which is one of Britain’s biggest, was made aware of their e-cig habit.

The broker, Harvey Sutton of Manchester-based Suttons Independent Financial Advisers, said: “All insurers ask questions about tobacco use and many, but not all, ask specific questions about nicotine. We sought situations where e-cig users could honestly answer questions relating to their use of tobacco products. Electronic cigarettes are not tobacco products. We spoke to the underwriters in question: we are not doing this without underwriters’ knowledge.”

 

 


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