Best life insurance for drug users

When a life insurance carrier reviews policy applications, it attempts to determine each applicant's risk, or the possibility of the applicant dying while the policy is in existence. Age, health status, and, in some situations, specific lifestyle choices are all risk factors. When an insurer discovers on your application lifestyle choices that may have a detrimental influence on your health, such as smoking or consuming alcohol, they may offer you a higher premium or deny your application entirely. If you are currently using illegal substances, you may be denied.

If you lie on your life insurance application, your provider may cancel your policy or raise your premium if they discover, for example, that you misled about previous drug usage. If you need to have a medical exam, you will very certainly be tested for current drug usage as well. Any purposefully false statements made by you may result in prompt denial. If you had an addiction problem in the past, it's alright to be open about it. Most life insurance will want you to be clean for a certain amount of time, although this varies per insurer.

Life insurance for drug users

If you take drugs, your life insurance carrier will usually consider you to be a higher risk to insure. For insurers, the issue is mostly related to drug-related health risks. According to the CDC, smoking tobacco reduces life expectancy by at least ten years. And alcohol usage is linked to severe ailments such as liver cirrhosis and cardiovascular disease, as well as an increased risk of deadly car accidents.

It's natural that life insurance firms would want to know about an applicant's drug use due to the risks involved with the practice.

If you've already been to rehab or are still getting clean, you may have to wait until that period of your life is far enough in the past to qualify for coverage before applying for a life insurance policy. Every insurance company has various requirements, but you should allow at least a few years between your last period of rehab and the date of your life insurance application.

Prescription medications

Certain prescription prescriptions will have no effect on your life insurance application, but there are others that insurers consider to be a higher risk. Insurers may specifically look for:

• Addiction treatment drugs: Opioid addiction treatment drugs, such as suboxone, may raise a red signal on your life insurance application and raise your premium.
• Painkillers and muscle relaxers: Because these medications are often very temporary, you may want to wait until you're no longer taking them before applying. Given the potential of addiction and death when mixed with alcohol, declaring these prescriptions on a regular basis may result in a higher premium, but it is best practice to be honest with your application.
• Prescription marijuana: If you are prescribed marijuana, you will most likely be required to explain the underlying concerns that led to your prescription use of the medication. This may have a favorable or negative effect on rates depending on the state you live in and the provider's individual policy.

Other drugs, such as mental health medications, diabetes medications, and HIV medications, might also raise your premium because the underlying diseases connected with these treatments can cause death at a young age. When in doubt, be open and honest with the provider on your application and consult with an agent to see how your medications may affect your rates or eligibility.

Marijuana

Even if you just consume marijuana recreationally a few times a year, you may be able to get the best rates from some marijuana-friendly life insurance companies. In some circumstances, you may be classed depending on your frequency of use, so even if you just use it once in a while, you can still obtain good rates. On the other hand, if you use marijuana on a regular basis, you may be labeled as a tobacco smoker, which usually results in higher rates.

Illicit drugs

Drugs such as heroin and cocaine are outlawed for a variety of reasons, not the least of which is the increased health and safety concerns connected with narcotic consumption. According to the National Institutes of Health, former heroin addicts had a lower life expectancy even decades following treatment. If you spent time in a recovery facility for your addiction, you'll have to reveal your previous drug use, which may result in higher premiums. However, if you've been clean for several years, certain insurance may still cover you.

Most insurers will not cover existing illicit drug users. If you now use illegal drugs or abuse medicinal drugs that were not prescribed to you, you will almost certainly be denied by a life insurance company.

What to do if you are denied life insurance because of drug use

If you are already using drugs, you will most likely need to get clean and stay clean for several years before any insurance will cover you. However, if you are overcoming your addiction and have been sober for years, keep in mind that each insurer analyzes your facts differently when determining your risk. One insurer may demand you to be drug-free for five years, while another may just require you to be drug-free for two years.

Even if you were not denied, it is prudent to obtain quotations from a few other life insurance carriers in order to keep your insurance prices low, as each insurance company will charge a different rate. Until you compare prices, it may be difficult to decide which provider will offer the most suitable rates for your case.