Vapers to get fair deal

UK vapers are to be given the chance of accessing life insurance at rates close to those paid by non-smokers, according to a press note put out by the UK Vaping Industry Association (UKVIA) and the insurance adviser Future Proof.

Until now, vapers – and people who have quit smoking by using nicotine replacement products – have been paying the same premiums as smokers, despite their having switched to less harmful products.

Currently, a 40-year-old smoker who takes out £200,000 of life cover over 25 years can be expected to pay £38.09 a month, whereas a non-smoker would pay £16.06 a month for the same level of cover.

But Future Proof is said to have launched the UK’s first ever price-comparison site especially designed for vapers, a site that will allow them to be separated from smokers and to access tailored insurance packages. The offer applies to former smokers who have been smoke-free through vaping for a year.

According to the press note, a 40-year-old vaper with a 25-year, £200,000 policy, would pay £18.77 a month, much less than a smoker would pay but more than a non-smoker, non-vaper would pay.

David Mead, chief executive of Future Proof, was quoted as saying that his company had 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,” he said.

Meanwhile, a UKVIA spokesperson described the initiative as “fantastic news for vapers all across the UK who will finally be given fair treatment”…

“Vaping has been recognised as being at least 95 percent less harmful than smoking and it is a great sign to see the insurance market is finally acknowledging this evidence and is moving away from treating vapers as smokers.”

The vaper friendly life insurance comparison site is here: https://www.futureproofinsurance.co.uk/life-insurance-for-vapers.