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Are e-cigarettes a health risk and how do insurers see them? Find out more about how they work and some concerns that Nedbank Insurance has about them.
Are e-cigarettes a health risk and how do insurers see them? Find out more about how they work and some concerns that Nedbank Insurance has about them.
From nicotine patches to support groups, self-help books to seminars, smokers will try anything to quit smoking, which is an addictive habit. But what about e-cigarettes? How do they work and what are the short- and long-term health effects?
E-cigarettes generally use a heating element known as an atomiser, which vaporises a liquid solution. They have the look and feel of a cigarette and they even emit a vapour, similar to the smoke of a normal cigarette. But are e-cigarettes a health risk?
The growth in the use of e-cigarettes has been exponential, with sales growing 30% a year in the past three years globally*. In South Africa they are also becoming increasingly popular with many people who see them as a healthier alternative to traditional cigarettes.
From an insurance point of view there has been some controversy around the health effects of e-cigarettes and how they are regulated. Should they be considered a tobacco product or a drug delivery device? Health advocates want them classified the same as regular cigarettes because they contain nicotine (an addictive substance), but many e-cigarette users and manufacturers want them classified as smoking cessation devices, ie non-tobacco products. In the USA it seems likely that the Food and Drug Administration agency will re-affirm that e-cigarettes should be regulated as a tobacco product.
There are several things that we need to consider at Nedbank Insurance:
In keeping with Nedbank Insurance’s underwriting approach smoker rates will apply to all of our clients who:
We know you probably don’t need to be told this, but smoking is damaging to your health and can impact many other things, such as your life insurance premiums. Quitting once and for all is the best solution.
* Renaissance Capital report August 2013.