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In Today’s Article, I Will Discuss The Potential For Qualifying For Final Expense Whole Life Insurance With A History Of Personal Alcoholism, Or Alcohol Abuse
For a variety of reasons, people struggle with alcohol abuse at various parts in their lives. Alcoholism can stem from depression, life tragedies and hardships, even from what was a normal habit that has turned into a life-threatening vice.
Either way, the purpose of this article is not to preach. Instead, the goal is to describe how a history of heavy drinking, alcohol abuse, and alcoholism affects your ability to qualify for final expense whole life insurance.
Here’s how we’ll do it.
I’ll describe how most life insurance companies look at alcoholism, and show you under what circumstances you can ethically qualify for burial insurance with a history of alcohol abuse. Also I’ll discuss the health implications that may have an effect on qualifying for final expense whole life insurance, including the formation of chronic disease from alcohol abuse and medications used to control the addiction.
Here’s An Overview Of Today’s Topics:
- How Most Final Expense Whole Life Insurance Carriers Define Alcoholism
- What If You Answered YES To Any Of These Questions?
- Burial Insurance Rates, Age 40 to 90*
- Health Ailments Associated With Alcohol Abuse
How most final expense whole life insurance carriers define alcoholism
Luckily, most final expense whole life insurance carriers concern themselves with recent alcohol abuse diagnoses.
For example, most companies only look at the past several years to determine if alcoholism will play a role in your insurability.
Here’s a sample question on a final expense application asking about alcoholism:
“Within the past 2 years, have you been diagnosed, treated, taken medication for, or had a member of the medical profession recommend treatment for excessive use of alcohol?”
If you can honestly answer this question “No,” then you’re approved for coverage, assuming no other health issues.
Additionally, let’s break down the question itself, so you can fully understand the clarity as to how the company poses the question.
Has a medical professional diagnosed you with alcoholism? As long as it has not occured within the past two years, you can answer the question “no.”
Most final expense life insurance companies define treatment as any occurence where a patient requests advice or counsel from a medical professional, even if you have already received a diagnosis.
For example, if you see a psychiatrist to help manage your addiction, this is current treatment. Even if your alcohol diagnosis occurred beyond two years ago.
Taken Medication For
If you are prescribed suboxone, naltrexone, or any prescribed medication to reduce alcohol cravings, then you must answer “yes” to the “taken medication for” question.
If a doctor has recommend any sort of treatment within the last two years, even if you have not started it, you must answer yes to this question.
Most final expense carriers define “treatment” with a broad scope.
For example, some carriers consider Alcoholics Anonymous as treatment.
What If You Answered YES To Any Of These Questions?
No matter how you answered these questions, you most likely will qualify for some type of final expense whole life insurance.
If The Questions Above Occurred Within The Past Year
If alcohol abuse is within the past year, a guaranteed-acceptance whole life insurance product is your best option for coverage.
If The Questions Above Occurred Within The Past 12 to 24 Months
An alcoholism diagnosis or recommendation for treatment within the past 12 to 24 months allows for the chance for partial first-day full coverage burial insurance options.
Alcohol Abuse Treatment, Diagnosis, or Recommendation For Treatment Beyond 24 Months
Many life insurance companies offering final expense insurance will allow you to qualify for first day full coverage if it has been 24 months or longer since treatment, diagnosis, or recommendation for treatment.
Burial Insurance Rates, Age 40 to 90*
Rates For $5,000 In Burial Insurance
Rates For $10,000 In Burial Insurance
Rates For $15,000 In Burial Insurance
Rates For $20,000 In Burial Insurance
Rates For $25,000 In Burial Insurance
*Burial insurance premiums are subject to underwriting, based on rates as of 8/20/2018, from state-regulated life insurance companies offering final expense burial whole life insurance protection. Understand that in order to potentially qualify, you must submit an application to see if you’re eligible. Rates are subject to change. Give Buy Life Insurance For Burial a call at 888-626-0439 now to see what program you may qualify for.
Health Ailments Associated With Alcohol Abuse
Naturally, the examples above how alcoholism may have aroused serious, chronic health ailments. Long-term alcohol abuse causes liver disease like cirrhosis, pancreatitis, heart disease, brain damage, cancer, and other serious health ailments. If you have had any of these health ailments, it may cause serious impact on your ability to qualify for final expense whole life insurance.
The solution? Talk with an experienced life insurance agent like myself. I can tell you in a matter of minutes what final expense whole life insurance products you’ll qualify for. Call me at 888-626-0439 now for a free life insurance quote.