Recovering addicts face many challenges. Recovering addicts have to be aware of the pitfalls of the drugs related to their addiction. There are concerns about buying life insurance. History is going to affect their life insurance shopping experience. This applies to anyone that is applying for life insurance. Their history gets taken into account.
What is a Recovering Addict?
There is some controversy over whether an addict that no longer uses drugs is recovered. Or is recovering. How the insurance companies will view this depends on the particular company. Every insurance company is different. They have their own criteria. When setting premiums and accepting individuals for life insurance. In any event the addict is in recovery when they have abstained from the drugs for a period of time. Many individuals have to go through formal treatment of rehabilitation. To reach the recovery stage. Once they are in the recovery stage many want to buy life insurance. As part of their way of getting their life back on track.
How Drug Use Affects Life Insurance Approval
There are some individuals that are not showing any physical effects. From their drug usage. This raises the question as to why this is important to the life insurance company. There are several reasons why an insurance company becomes concerned. About the recovering addict.
Potential Health Issues
There could be health effects from the drugs that are evident now. This could’ve been one of the reasons that led the addict into recovery. Every insurance company is going to get concerned about any pre-existing condition. They will often want to know why a pre-existing condition exists. It may be as a result of the use of drugs.
Insurance companies want to support the recovering addict. They have to be realistic as they are a business. They are going to have concerns about a relapse. If this should happen it can have a direct effect on the life insurance. It will all depend perhaps on the type of drug that is being used. But, there are many deaths that are caused from overdoses. Also, the harm that the drugs can cause to the body could create a new condition. One that was not present at a particular time. Insurance companies have to be concerned about the future of the insurance applicant, As they are about the present and their past.
It is not uncommon for addicts to run into trouble with the law. Many addicts end up spending time in jail. The concern for the insurance company is if the recovering addict relapses. This could lead them into confrontations with the law. These types of confrontations could affect their life. There have been individuals that have been incarcerated and have lost their life in jail. Or, have lost their life in a confrontation with the police. All these factors are going to affect the insurance company.
What is the Difference between Soft Drugs and Hard Drugs?
Most addicts will agree that it doesn’t matter what the drug is. If one becomes addicted to it is a serious problem. Drugs get put into categories such as hard and soft. Quite often individuals view the addict as the one that has been into hard drugs such as heroin and cocaine. What is not realized is that many prescriptive drugs also come into the category of hard drugs. They are also ones that many have become addicted to. These are the opiates as well as morphine and codeine.
Quite often soft drugs are considered to be a recreational drug. For some, they do not even consider these as an addictive drug. These are drugs such as marijuana and hash.
Will the Insurance Companies Consider the Differences between these Types of Drugs?
Every insurance company will have a different viewpoint on drug addiction. For the recovering drug addict, the insurance company will want to know what the drugs of choice were. Quite often the soft drugs get classed as gateway drugs. This raises a concern for the insurance company. Their concern is an individual will relapse. They will go back to these drugs. It could be possible this will escalate to hard drugs.
Can You Still Buy Life Insurance If You Have Abused Drugs?
Drug abuse gets looked at in a similar light to that used for alcohol abuse. For some insurance companies, they may even look at it in the same concept as tobacco use. Insurance companies are very concerned about insuring people that use tobacco. The insurance company is going to scrutinize the insurance applicant. In much more detail for those that are recovering drug addicts.
When one is applying for life insurance they have a series of questions that they are going to have to answer. Most likely one of these will be a question about whether the applicant has ever used drugs.
There are many different types of insurance products. Some create less risk for the insurance companies than others. It could be possible that the recovering drug abuser will not qualify. For term life insurance. The insurance company may consider them for some of the other packages. Such as universal life for example.
The cost for the insurance becomes rated insurance. This can lead to more detailed questions. Based on the answers the insurance company is going to make the decision. About what kind of insurance they are prepared to provide. Life insurance is a personalized product. Insurance companies have the opportunity to be able to draft their policies the way they see fit. Although there are standard regulations that they must follow. It may be that the insurance company will want to include certain clauses. To help protect them in the event that a recovering drug addict relapses.
Take the Time To Shop
In any event, the recovering drug addict should take the time to shop for the insurance that they want. This means checking out what the different insurance companies have it to offer. Some will be more restrictive than others. Some will be higher priced than others. The bottom line is that there is an opportunity for the recovering drug addict to get life insurance which is an important product.