Obtaining life insurance for alcoholics can be the same as any other serious disease. Insurance companies are likely to not extend an offer of life insurance to a diagnosed alcoholic who is still drinking, but may to someone who is in the process of recovery. A recovering alcoholic is likely to face higher life insurance quotes and premiums as a result, but they can still provide their family or dependants with financial security. Like any illness, the severity of the condition will determine what cover is offered if any at all.
Anyone who drinks more then the weekly amount recommended by the government of 21 units for men and 14 units for women may be asked to provide the insurance providers with more information. The amount of time an individual has spent in recovery from being alcoholic effects life insurance premiums as well. Someone who has been alcohol free for a year or two may be able to pay premiums at an average price.
Companies may ask a diagnosed alcoholic seeking life insurance for further information including:
- Details of any treatment
- Medical records to check whether or not a person has developed long term health problems
- Whether a person’s employment was affected
- A person’s family situation
Different companies view alcoholism differently so make sure to get a number of different life insurance quotes to research the market and ensure you come out with the best deal for you. It is important to read the small print when comparing life insurance quotes to make sure the policy is suited to your individual situation.