Can I Get Life Insurance with a history of alcohol dependency?
In many cases we have been able to help people to secure cover, even if they have been declined before.
What are the risks associated with heavy drinking?
According to the NHS, in the short-term alcohol misuse include:
- accidents and injuries requiring hospital treatment, such as a head injury
- violent behaviour and being a victim of violence
- alcohol poisoning – this may lead to vomiting, seizures (fits) and falling unconscious
- People who binge drink (drink heavily over a short period of time) are more likely to behave recklessly and are at greater risk of being in an accident.
In the long-term persistent alcohol misuse increases your risk of serious health conditions, including:
- heart disease
- liver disease
- liver cancer and bowel cancer
- mouth cancer
If, once you’ve read this case study, you’d like to talk through your situation, please call 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.
Our Client’s story
Our client is 36 year old who was hoping to arrange some life insurance which would pay out enough to repay his mortgage in the event of his death. He had a history of alcoholism and has seen a psychiatrist regarding his mental health. At his worst, the client was drinking around 80 units of alcohol a week.
Our client has only stopped drinking completely in the last year and so most insurance companies would postpone (or decline) an application for a few years.
The reason for this is the possibility of re-lapse and the health issues that could result from drinking again.
When a client has a pre-existing condition, or has suffered a serious illness in the past, the first thing we do is pick up the phone. We speak to Underwriters at many of the UK’s leading Insurance companies. Discussing all of our client’s medical history helps us to identify the best company to apply to. This also means we avoid applying to companies who will end up being too expensive or worse, decline an application. By completing our research thoroughly, we are able to avoid wasting time and obtain the best terms possible for our clients.
An excellent Outcome
Owing to our clients history, and despite the vast majority of insurers refusing to offer his cover, we were able to help him arrange £365,000 of life cover over a 31 year term for a premium of £146.00 per month.
We will continues to stay in touch with him. Assuming he continues to not use alcohol (and his health remains good), we are confident we will be able to help him reduce the cost of the cover as the years go on.
Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.
Interested in related stories?
- Read Jon’s moving story about his cancer diagnosis.
- Read how we helped someone with a family history of breast cancer arrange critical illness insurance
- The Benefits of an Index-Linked Life Insurance policy
- Life Insurance and a history of Mental Health Issues
- What is terminal illness benefit?
- Watch our short video about why a life insurance trust is so important.
- How does terminal illness and critical illness cover differ?
- What Questions will I be asked when i speak to an adviser about Life Insurance?
Whilst you are welcome to get a quote on-line we would recommend you talk to one of our advisers.
Any quote that your adviser provides you with will take into account to your circumstances, your medical history, as well as your budget!
An on-line quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.
Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.
For more information on alcohol consumption read below:
Take a look at our handy guides ‘What Cover is Right for me?’
Do you suffer from a medical condition and concerned you can’t secure Life Insurance? Please view our ‘Medical Guides’ for further information.
Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success. All applications are subject to underwriting.