Life Insurance & Alcoholics – Alcoholism/Alcohol Abuse
Alcoholics and alcoholism is regarded my life insurance companies in a similar way to many ailments and illnesses.
The severity of the alcoholism and how long a person has been an alcoholic will play a part in determining the cost and availability of cover.
Confirmed alcoholics who are still drinking are unlikely to be offered cover.
If a person drinks regularly but has not been diagnosed as an alcoholic the insurance companies decision will depend on the quantity of alcohol consumed on average per week.
Although the Government recommended alcohol intake is 21 units per week for men and 14 units per week for women, many life insurance companies will accept individuals who consume 30 – 40 units per week without the need for additional medical information.
If a person has been diagnosed as an alcoholic, insurance companies will require more information.
Different insurance companies view alcoholism differently but recovering alcoholics who have abstained for a reasonable length of time (6 – 12 months) may be able to obtain life insurance at standard rates. This will however depend on whether or not there are any other associated health problems as a result of the alcoholism.
Confirmed alcoholics who are still drinking are unlikely to be offered cover.
Excessive alcohol consumption affects every system of the body leading to significantly higher mortality and morbidity.
Because insurers view alcoholics and alcoholism differently it is important to research the options before making a decision or discussing your case with an adviser who can research the market for you.
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