Drinking and Your Life Insurance Policy

Did you know you could be increasing your life insurance premiums every time you uncork that bottle of wine or break open a six pack of your favorite beer? Although it generally takes heavy alcohol use to do so, insurance companies often charge higher premiums to drinkers or deny them coverage all together. Excessive alcohol use can lead to numerous different conditions, some of which are life threatening or can potentially lower your life expectancy. For most insurance companies, having more than two alcoholic beverages a day keeps you out of their “preferred” rates tier and more than four drinks a day pushes you out of the standard tier. Of course, some people aren’t always honest on their life insurance applications, which is why insurance companies have several ways of finding out customer’s drinking habits.

How do Companies Find out About Your Alcohol Consumption?

One of the ways insurance providers get information about their customer’s alcohol consumption is through their doctors. Almost every life insurance company requires that prospective customers take a physical exam before approving you for insurance. Statements from the doctor or health practitioner may lead the company to label someone a drinker. Many people are also required to have blood drawn for a multitude of different tests, one of which is likely for liver enzymes. Elevated levels of liver enzymes often points to heavy drinking or some other serious health problem. Outside of blood tests and physician statements, insurance companies also look for DUI’s in their applicant’s records. Even a single DUI from someone without a history of alcohol abuse can greatly increase premiums. Those with multiple DUI’s may even be completely uninsurable. While alcohol consumption or a DUI can make finding a decent life insurance policy difficult, it’s by no means impossible.

What You can do About it

• First, don’t just settle for any life insurance policy you can get approved for. Shop around online and talk to friends or family members who already have a policy. Some companies may be willing to overlook drinking if you’re otherwise in good health.
• Although it may be difficult if you’ve been drinking heavily for several years, try significantly cutting back on your drinking habits. You could even get professional help and quit all together. If you’re able to change your lifestyle, get the proper testing done so you can show proof to your insurance provider and hopefully get better rates.

Additional Resources

• Life Insurance and Alcohol are not a Good Mix
• How to Pay Less for Term Life Insurance by Reducing Your Alcohol Consumption

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