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Impact of Drug Use on Your Life Insurance Policy

Updated: Sep 20, 2020

First of all, it is important to point out that recreational and illicit drug use is a major factor for insurance companies to consider when providing their client's life insurance coverage. In fact, using drugs has been scientifically proven to reduce the life expectancy of the user. Additionally, it can also contribute to things such as overdoses and car accidents. Thus, insurance companies make sure that they know whether the client has a history of using drugs. Do not be surprised when an insurance company asks you if you have ever taken any other drugs apart from those prescribed by a physician. If you answer yes, they will want to know more details.

Information You Will Have to Provide About Your Drug Use

  1. The name of the drug

  2. The form that you ingested it in

  3. The amount that you ingested

  4. The frequency of ingestion

  5. The length of time of use

  6. The date when you last used the drug

To explain further, most insurance companies deny coverage to those who use illegal and serious drugs such as heroin, cocaine, and methamphetamines. However, some of them will cover clients who use less powerful and harmful drugs such as marijuana. It will often be classified in the same category as alcohol or tobacco, especially because it has been legalized in many states. The stigma of serious drug use cannot be compared to that of marijuana. If you happen to be a recovering drug abuser, then the following factors will affect your life insurance policy package.

Factors to Be Considered for Recovering Users

  1. The length of time you have been sober. Most companies ask that such a person should not have used the drug for a minimum period of a year. However, some of them ask for a longer time extension.

  2. The length of use. This will help them establish how dependent you were on the drug and calculate possible long-term effects.

  3. The severity of addiction or drug abuse. Well, it is clear that cocaine and heroin cause the most grievous harm to the body and are highly addictive. However, the insurance company will want to know how you quit indulging in the drug. For example, did you seek professional help from a rehab program?

  4. The number of health issues that resulted. This includes any health problems that you might have developed because of using the drug. For example, heart issues, visual impairment, or HIV/AIDS, among others.

  5. Whether or not the use led to any hospitalizations. This could be due to health problems or accidents.

  6. Any relapse that occurred once you stopped using the drug and how long the relapse lasted.

  7. The current situation of your life. If you are living a stable drug-free lifestyle, this will include knowing details such as your marital status, place of residence, job, etc.

The Takeaway

With all of this in mind, take note that the term “drug” does not include prescription medication. In fact, a prescription medication that prevents health issues such as high cholesterol, high blood pressure, or diabetes, actually increases your chances of securing the best life insurance policy.

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