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Another Case Study of Vapers Saving $$$ !!

Discussion in 'Vaper Insurance Specialist' started by David R Gould, Oct 11, 2016.

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  1. David R Gould

    David R Gould Full Member

    Case Study #2 Bob
    Bob contacted me with an interest in obtaining life insurance to protect his wife and kids, something to help cover the mortgage and replace his income if the worst happened. He first wanted to check with his current auto and home insurance carrier, a well known company that caters specifically to the military market.

    I warned Bob that their rates were going to be Smoker rates, but I looked forward to comparing. Now what's interesting is that they did offer some deference to the fact that Bob is a Vaper and not a tobacco smoker. Their Vape rates reflected a 25% discount off of their Smoker rate. Now let's compare the numbers!

    For a 250,000 30 Year Term plan, Bob's current carrier quoted him $160/month. The quote from Latitude? $62.33/month. That is 61% less and that is why we do this!!

    Now, I do credit this other company with giving some deference (25% discount) to Bob's healthy choice and not lumping him in with cigarette smokers. But with their tobacco rate sky high, the discount is symbolic at best.

    With most companies sticking Vapers with high smoker rates, it's no wonder some feel like they can't afford to get proper coverage. And that is just sad. Let Latitude help you help yourself. Case closed and another family protected!
     
    • Like Like x 4
  2. BobLynch

    BobLynch Full Member

    Oct 14, 2016
    Vian,Oklahoma
    He could also go to ecblends.com to save money and they are aemsa.org certified.
     
  3. mountaingal

    mountaingal Super Member Verified Member ECF Veteran

    David has been able to save vapers some nice money with these companies that recognize vaping as healthier then smoking. He can work with you to save money. Then you'll have more to spend on vape gear. :)
     
  4. absoluttalent

    absoluttalent Super Member Verified Member ECF Veteran

    Apr 26, 2014
    Lombard, IL
    Or.. .. When getting a quote and they ask if you are a smoker, just answer no and don't even bring vaping into the equation.
     
    • Like Like x 1
  5. DC2

    DC2 Tootie Puffer Verified Member ECF Veteran

    Jun 21, 2009
    San Diego
    And if your family is put in a position to collect...
    And the life insurance company finds nicotine in your system...
    And denies coverage and refuses to pay out...

    That won't be, in hindsight, the best decision you could have made.
    Almost might as well just NOT get life insurance if you like to gamble like that.
     
    • Like Like x 3
  6. David R Gould

    David R Gould Full Member

    @mountaingal, thanks for your support! We are making a difference for vapers!
     
    • Like Like x 1
  7. David R Gould

    David R Gould Full Member

    @absoluttalent, you are right in the sense that Vapers are not smokers and don't need to answer in the affirmative to the question "Are you a smoker?" However, if you are suggesting that you can fool an insurance company to get a NonSmoker rate, this is not only unwise, but illegal. During the life insurance application process, more specific questions about cigarette use, nicotine use, and vaping will come up. And then there is the blood test. As @DC2 indicates as well, the last thing anyone wants is to have their family left with nothing because of fraud on an insurance application. The good news, if you are with the right carrier, you can get a NonSmoker rate and not have to hide anything about your nicotine use!
     
    • Like Like x 4
  8. Natasha Jovic

    Natasha Jovic Full Member

    Oct 18, 2016
    I agree!
     
    • Like Like x 2
  9. David R Gould

    David R Gould Full Member

    Hi Folks, just wanted to emphasize the bottom line again on this particular case.

    Monthly Savings Vaper rate $97.67

    Annual Savings Vaper rate $1,172.04

    30 Year Policy Length Savings $35,161.20!!!!

    What would you do with the difference??
     
    • Like Like x 1
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