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Life insurance companies in the UK generally think of vaping as being the same as smoking. But are there signs that this could change?
In the UK, the vast majority of leading life insurance companies in the UK still see vaping as smoking. That means that if you're a vaper, you'll usually be treated as a smoker for the purposes of life insurance, and you may have to pay more for life insurance as a result.
In this article:
The UK's leading life insurance companies and their stance on vaping
Why these companies are classing vaping as smoking
How to find the right life insurance policy if you're a vaper
We looked at the websites of five of them. Royal London and Scottish Widows don't mention vaping at all. LV= refer to it in a blog post as a way of giving up smoking, while Zurich explicitly discuss it in relation to life insurance. However, they don't suggest they have any plans to change their pricing for vapers. The same goes for Aviva.
So, if you're a vaper, it's important to check with the life insurance company before you take out a policy to see if they class vaping as smoking. Our research suggests that in most cases you'll need to answer "yes" when they ask if you smoke.
It boils down to the fact that the health impact of vaping is not yet clear from medical research - so many life insurance companies are simply playing the percentages. Zurich does acknowledge that this might need to change in future.
However, as the UK is no longer part of the European Union’s tobacco product directive, it may lead to less regulation of the vaping industry, and potentially make it easier for people to buy unregulated products. That could offset any future savings on life insurance for vapers.
Vaping has become increasingly popular in recent years, but almost all life insurance companies still class it as smoking.
If you are a vaper, it is important to shop around and compare life insurance policies to make sure you are getting the best possible deal. Just don't forget to answer "yes" when they ask if you are a smoker, or your cover could be invalidated.
References
LV=: https://www.lv.com/life-insurance/life-and-critical-illness/faq/life-insurance-and-smoking
Zurich: https://www.zurich.co.uk/magazine/life-insurance-for-smokers
Aviva: https://www.aviva.co.uk/insurance/life-products/life-insurance/life-insurance-and-smoking/
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