Insurance companies have had their critics in recent times for grouping vapers in with smokers when calculating life insurance premiums. In most cases, vapers would be required to class themselves as a smoker when applying for a quote or risk invalidating their insurance.
Vaping advocates and associations have been campaigning to give vapers fair premiums. Linda Bauld Professor of Health Policy at Stirling University previously shared her opinions as she said:
“It is just not fair. As well as being financially punitive to people who vape, it can also send negative messages to those who want to stop smoking. It is not helpful.”
The IBVTA also wrote a letter to Paul Evans, CEO of the Association of British Insurers explaining the benefits of vaping over smoking and willing insurers to provide fair premiums which reflect the relative harm of vaping.
Now, insurance comparison site Future Proof Insurance has launched a system which differentiates between vaping and smoking. The criteria requires vapers to have not smoked in the last 12 months. The site then has tailored packages, specifically designed for vapers meaning they could save thousands compared with smokers.
David Mead, chief executive of Future Proof said,
“We wanted to bring an easy to use price comparison site to help vapers save money. The biggest winners are people who have only been vaping and people who have not been using tobacco products for at least 12 months.”
This is not only encouraging in the sense that vapers can benefit on a monetary level but it also a win for vaping in general. The benefits of vaping over smoking are often misconceived when the two are covered by the same policies. With clear distinctions between the two, the public perception of vaping is more defined thus leaving smokers more informed about the relative safety of e-cigarettes.