There are many individuals that have had a problem with alcohol and have been able to beat it. Unfortunately, the repercussions of this type of addiction get carried forward. Into the future with them many times.

Why Do Insurance Companies Care About Recovering Alcoholics?

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Insurance companies are going to care about anything that could affect them. In regards to the type of insurance products that they offer. Life insurance is one of the major products that many people want to buy. Most often life insurance products come with a big payout upon the death of the insured. The insurance companies want to be sure that they are taking as few risks as possible. They are intent on the past health and current health. Also, the future health of those that they are going to insure.

For this reason an insurance company wants to know the details of a recovering alcoholic. This is because this individual can create additional risk for the insurance company.

Past Risks

The recovering alcoholic is an individual that is no longer drinking. They have either quit themselves or been in some type of treatment program. However, long term use of alcohol can cause different types of health problems. The insurance company is going to want to know how long the individual had been drinking for. They are going to scrutinize their health records to see if there have been any ill effects as a result of the alcohol

Current Risks

The insurance company is going to care about the current health of the individual. Many individuals have health problems including the recovering alcoholic. However, these health problems may not be alcohol related. The insurance company is going to look carefully. To see if any of the pre-existing conditions are possibly related to the alcohol use.

Future Risks

Some individuals that have consumed alcohol for a long period of time may not show any of the negative effects. Until the future. Their health may have run down and some of their organs compromised. However, this might not be immediately noticeable. Insurance companies do a lot of work into looking at statistics and what can affect them. They are going to be well aware of any potential health problems that could occur in the future. As they relate to the alcohol usage. They are going to take this into account. When looking at whether they are going to insure the recovering alcoholic or not.

The other factor that they will consider is whether there is a chance of a relapse and to what degree. Part of the determination of this will be the length of time. That the recovering alcoholic has abstained from drinking.

Other Factors

Quite often alcoholics end up running into other problems aside from health issues. Their drinking may have led them to getting into trouble with the law. It is not uncommon for alcoholics to end up with driving infractions such as DUIs. The insurance companies are going to check the driving record. Of the recovering alcoholic. To see if there are any driving infractions. Paying close attention to those that may be alcohol related.

Can Recovering Alcoholics Get Life Insurance?Recovering Alcoholics

 

The good news is that in most cases the recovering alcoholic can qualify for life insurance. The bad news is that they may be restricted to the types of life insurance they can buy. Also. they may find that it is more expensive. They also may find that there is a limit on the amount that they can buy. One of the main factors that is going to help determine this is the length of time or the history of the alcoholism. Insurance companies are going to look at statistics as to what the relapse may be. As it pertains to alcoholism. Some have been recovering for a period of five years or more. They are creating a far less risk for the insurance company. Getting insurance for these individuals will be much easier. Compared to an individual that is a recovering alcoholic for only a year or two.

Will Life Insurance Be More Expensive For Recovering Alcoholics?

Insurance premiums vary from one individual to another. This is another thing that indicates that no two insurance policies are the same. All of the details from the questions asked help to determine what the insurance rates are going to be. In all likeliness life insurance is going to be more expensive. For the recovering alcoholic, plus there may be more restrictions. How much more expensive is going to depend on several factors.

It’s going to depend on which insurance company one is using.

The statistics as they apply to the insurance applicant are going to help determine the cost.

There is another major factor. Which is the length of time that the recovering alcoholic has been alcohol free.

How Does A Recovering Alcoholic Shop For Life Insurance?

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A recovering alcoholic should shop for life insurance just like anyone else would. There are plenty of life insurance companies that will offer life insurance. To these individuals. For this reason it means doing some comparisons. When one is looking for insurance companies they will often ask for quotes. The quotes will be based on a certain amount of information that has been supplied by the insured shopper. It is important to be honest with the answers. Further questions will be asked. By the insurance companies the insurance shopper is applying for.

No matter what the questions are it is important that the insurance shopper answer them honestly. Otherwise they are just cheating themselves and wasting time. The answers for the quote is going to provide some choices of insurance companies. Those that will offer life insurance to recovering alcoholics.

There will be additional questions asked by these insurance companies. These will help to determine the type, cost and any restrictions that might be in place. As said, each insurance company is different. Comparing what each of these companies offer will help the recovering alcoholic. Find reasonable and affordable life insurance.

Resources

https://www.shelterbay.ca/life-insurance-alcoholism/
https://www.mcmha.org/getting-life-insurance-with-a-history-of-alcoholism/