Can A Person Be Denied For A Life Insurance Just Because A Of Past Drug Addiction?
Posted September 7, 2009 – 10:32 am in: structured settlements FAQ2 years ago i was arrested for possesion and use of illegal drugs i did 3 months and jail went into rehab for a year, I have been clean and sober for 2 years and few months, I recently try to get a Life Insurance And I got denied my metlife and 90 others companies according to my broker. the Reason my felony for drug possesion!
Tags: Addiction, Because, Denied, Drug, Insurance, Just, Life, Past, Person
8 Comments
there is a much lower rate of recidivism (relapse) once you get five years clean. many insurance carriers know this and take it into account. i suggest you keep staying clean (good for you btw) and be able document the fact that you have been clean that long. then take another run at getting insurance.
Yes you can be denied for a past drug addiction. Every company has different underwriting guidelines so it doesn’t mean that you may not get coverage, if your broker ran it past 90 companies, it seems like a lot for him to do…. ask which ones.
If it really was 90 then a good option for you would be to look for some type of guaranteed coverage with out any underwriting. These types of policies have a graded death benefit for the first 2 years or so, they are whole life and build a cash value.
Yes you can be denied due to drug abuse. Some companies will accept you and give you a higher premium. They figure that people with a history of drug use are at higher risk of hear attack and other cardiovascular diseases. What State do you live in? I may be able to check with a company that I Have insurance through.
Yes, they can. Life insurance can be denied for just about any reason.
And it’s not the past drug addiction that’s doing it – it’s a felony conviction. Although that drug addiction sure doesn’t help the situation.
Yes, even if you just went to rehab for a week you’d have a very difficult time getting coverage. A felony conviction doesn’t help your cause at all either.
The insurance companies understandably don’t want to accept that risk.
That is pretty typical. Because drug dependency is such a risk, life insurance companies usually like to wait about 7-10 years before offering coverage.
Yes, most certainly. Considered engaging in risky behaviour. High mortality!
Yes.