funeral insurance for alcoholics

Funeral Insurance for Alcoholics

We are discussing a sensitive subject today. Seniors suffering from Alcoholism and Alcohol Dependence have difficulty finding and qualifying for  reasonably priced funeral insurance for alcoholics.

Life insurance companies take alcohol abuse and alcoholism very seriously for many reasons. But, funeral insurance for alcoholics is still available from some of the best funeral insurance companies.

In every  likelihood, if you are suffering from alcoholism or alcohol dependence, your funeral insurance choices are limited. Your choices are going to be limited to a simplified issue life insurance policy or a guaranteed issue life insurance policy. But first and foremost , we will recommend a company that provides a no medical exam required policy. There is no reason to get poked and prodded by a paramed stranger.

Let’s discuss the 2 types of policies that you will consider for your funeral insurance policy.

Simple Issue

No Medical Exam

Guaranteed Issue

No Medical Questions

Simplified Issue Policy

Simplified issue policy means that you just answer a few medical questions about your history instead of taking a medical exam. Simplified funeral insurance for alcoholics is fast , easy and affordable.

Guaranteed Issue Policy

Guaranteed Issue Policy means that you don’t have to answer any medical questions. You will qualify for funeral insurance for alcoholics regardless of your health. Guaranteed funeral insurance for alcoholics offers slightly lower benefit amounts and a somewhat higher premium.

However before we make any recommendations, and with your permission, we would like to inquire about your sobriety. Our goal is still to find the right company for you that offers the best program for your individual needs.

The 2 (two) questions below are from 2 (two) different life insurance companies. Both companies are tops in their fields and are A rated. Can you see how the wording is different?  It is just one example of how life insurance companies look at each person’s medical condition a little differently and rate the proposed insured differently according to their own underwriting guidelines and standards.

2 very different questions about alcohol use from 2 different funeral insurance providers

In the past 2 years have you been treated for or been advised to have treatment for alcohol or drug dependency or consumed more than 10 alcoholic drinks per day?

In the past 12 months, has the Proposed Insured been medically diagnosed as having or been treated for: congestive heart failure or cardiomyopathy, stroke, aneurysm or sleep apnea; or been advised to have treatment for any drug or alcohol abuse?

Depending on how you answers the question will determine the funeral insurance program that you will qualify for. One of our companies is looking back 12 months, while the other company is looking back 2 years. It is important that you always answer the questions truthfully when applying for life insurance because the consequences can be denial of the claim. It is far better to pay a little more each month in premium than to say you are in perfect health when you are not. 

The 3 questions we’ll ask about your disease.

 

Sobriety

Are You Still Drinking ?

Medical Problems

Treatments or Prescriptions

dui

DUI's

It's On the Record

Sobriety

First, we want to let you know that we are dedicated to your privacy. We understand the sensitivity of the situation and will treat our conversation with the utmost respect. We need to know if you have stopped drinking and how long ago? If you are currently drinking then we may move right on to a guaranteed issue funeral insurance policy. Funeral insurance for alcoholics who are currently drinking will be set up as a guaranteed issue policy. That means that there is a waiting period of 2 years before the face amount of the policy  would be paid to any beneficiary in the event of your death. The premiums are not lost though. The sum of the premiums plus any interest would be paid to the named beneficiary. So it becomes somewhat of a waiting and guessing game.

Medical problems

The medical problems associated with alcoholism are numerous. It’s not any wonder why life insurance companies are concerned about funeral insurance for alcoholics.

  • Liver Disease
  • Diabetes
  • High Blood Pressure
  • Some Cancers

There are no blood tests to be taken when looking for funeral insurance for alcoholics. If you were trying to get another type of insurance policy, like a term life insurance policy, then underwriting for the policy would be much more cautious.

It’s hard to get term life insurance if you are dependent on alcohol.

During that term life insurance underwriting process they will look at just how risky you are to insure. A medical exam will be ordered, and a paramend will be dispatched to your home or office.If there are medical conditions and health issues associated with your alcohol dependency then it will be almost impossible to get a term life insurance policy.  In addition the whole underwriting process can take up to 8 weeks while health histories are pulled, and your doctor is contacted. The process can be delayed even further if the Doctor’s office is hesitant to comply with turning over the records. The back and forth will take time. Consequently, during that wait and see period ,your family is not protected!

 

Paramed

A Paramed is a certified medical professional who will gather information during a paramedical exam. They will take your height and weight measurements and most noteworthy the Paramed may take a urine sample, draw blood and saliva or order an EKG.

Driving Under the Influence is a huge problem for alcoholics

Facts:

  • In 2016, 10,497 people died in alcohol-impaired driving crashes, accounting for 28% of all traffic-related deaths in the United States.
  • Of the 1,233 traffic deaths among children ages 0 to 14 years in 2016, 214 (17%) involved an alcohol-impaired driver.
  • In 2016, more than 1 million drivers were arrested for driving under the influence of alcohol or narcotics. That’s one percent of the 111 million self-reported episodes of alcohol-impaired driving among U.S. adults each year.

Source: CDC. Behavioral Risk Factor Surveillance System (BRFSS), 1993–2014.

If the proposed insured has been convicted of driving while under the influence, then it becomes even more difficult to find an inexpensive life insurance policy. One of the questions on some applications will be about driving under the influence of alcohol or any drug.

Funeral insurance for alcoholics that have had a DUI in the past year will be limited to Guaranteed Issue. The key will be for Choice Senior Life to find the right company willing to work with you and get you the best rate possible.

Case Study : 60 year old male with alcohol dependency applying for a $10,000 funeral insurance policy.

The difference in premiums are listed for level policies, graded policies and guaranteed policies. Contact Choice Senior Life to see which program you qualify for. All funeral insurance companies that we work with represent the top companies in the funeral insurance industry and are A rated.

60 Year Old Alcohol Dependent Male $10,000 Funeral Policy

CompanyCoverageProgramMonthly
Mutual of Omaha Burial Insurance$10,000Living Promise
Level Benefits
$42.76
United Home Life Insurance$10,000Express Issue
Level Benefits
$44.69
$10,000LifeScape Graded Benefit
Graded Benefits
$61.70
AIG Burial Insurance$10,000Guaranteed Issue$63.17
This is not an offer of life insurance. Prices may vary by State and health conditions of the proposed insured.
Final rates are based on eligibility. To receive a formal offer you must apply and submit an application through Choice Senior Life.