Life Insurance for Drinkers

When you apply for a life insurance policy, your health is one of the biggest factors insurance companies consider in determining your eligibility and rates. Alcohol use can have an impact on whether you qualify for insurance and what you’ll pay.

Since you’re not breaking any laws if you drink as an adult, insurance companies want to know if you’re using alcohol responsibly and whether it’s affecting your health. Excessive alcohol use can cause a variety of physical and mental health complications, so insurers want to consider that carefully when you’re getting life insurance. Some factors they look at include:

• How frequently you drink: In general, insurers are looking for any signs of binge or risky drinking.
• Alcohol abuse treatment: If you’ve received treatment for alcohol addiction in the past, it can be harder to qualify for life insurance.
• Your driving and criminal record: Companies tend to look at this extra closely if you’re a moderate or heavy drinker. Arrests, DUIs, and DWIs can potentially prevent you from getting covered.
• Lifestyle choices: If you use drugs or smoke tobacco in addition to drinking alcohol, it can impact your eligibility and life insurance rates.
• Health issues: Conditions like anxiety or depression can affect your ability to get covered, regardless of whether they’re related to your alcohol use.
• Age and employment status: Your insurance company will offer lower life insurance rates if you’re younger, and they’ll also want to make sure you qualify financially for life insurance.

In general, drinking alcohol shouldn’t prevent you from getting covered, as long as it’s not interfering with everyday life. In many cases, you should be able to qualify for similar rates as non-drinkers if you have no health issues. A life insurance agent can help you walk through your options to find the best fit for your needs, lifestyle, and budget.