Drug Rehab and Life Insurance

[Redbull1025]

What is the name of your state?What is the name of your state? NY

I am in the market for Life insurance and I'm concerned about the questions that will be asked relating to past drug use. I was in a rehabilitation for a Painkiller addiction this past year and now see a pschotherapist as part of the after care. Today I have a small life policy now and I'm wondering if I should report this to them? Will they drop me? Will They raise my rates?

I am also considering a new policy for a large amount but am concerned that If I tell the Insurance co about my past I won't get the policy or won't be able to afford the premiums. What should I do? What do Insurance companies typically do with this type of applicant? What would happen If I died from a drug related cause?

I've also been treated for depression in the past. Should I report this?

Will HIPPA laws prevent the Insurance comapny from getting this info If I leave it off the application?

If you sell insurance and answer these questions honestly leave your name and number and I'll contact you for a quote.

THANK YOU!!

 

[I AM ALWAYS LIABLE]

What is the name of your state?What is the name of your state? NY

I am in the market for Life insurance and I'm concerned about the questions that will be asked relating to past drug use. I was in a rehabilitation for a Painkiller addiction this past year and now see a pschotherapist as part of the after care. Today I have a small life policy now and I'm wondering if I should report this to them? Will they drop me? Will They raise my rates?

I am also considering a new policy for a large amount but am concerned that If I tell the Insurance co about my past I won't get the policy or won't be able to afford the premiums. What should I do? What do Insurance companies typically do with this type of applicant? What would happen If I died from a drug related cause?

I've also been treated for depression in the past. Should I report this?

Will HIPPA laws prevent the Insurance comapny from getting this info If I leave it off the application?

If you sell insurance and answer these questions honestly leave your name and number and I'll contact you for a quote.

THANK YOU!!

My response:

First, it's "psychotherapist".

Second, it's HIPAA, not "HIPPA".

Third, if you were an insurance company, would you sell to a burned out druggie skank, like yourself?

IAAL

 

[angelave]

Lonely pathetic creature strikes again, once more providing evidence of his own shortcomings.

 

[ALawyer]

First if you HAVE an old policy don't worry about it. Life Companies can NOT drop you if your health or risk profile changes once the policy is issued -- they are stuck with it, and can not even seek to rescind after 2 years.

On new policies, see if you can get some guaranteed issue policies from your job, etc. Many of them are for smaller amounts and ask no medical questions or very few -- such as are you actively at work. If so, and you don't have to disclose anything or lie, buy it.

In terms of a large policy, quite frankly, with a medical record that you are describing, and the very recent history, you are a very unattractive life insurance risk. I doubt anyone would want to write you at any price until some time elapses. Two to 5 years from now, with a clean history, you're certainly insurable, and the cost increase may be modest.

As for trying to lie, that's wrong, and not only are you very unlikely to get away with it (your application would grant the underwriters the right to get copies of ALL medical records. That would have the effect of flagging your application for 7 years to decades. Further, if you get away with the lie but die within 2 years the policy would certainly be contested.

 

[Shay-Pari'e]

https://forum.freeadvice.com/showthread.php?t=203682