Life Insurance Options for Past Alcohol Abuse
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Join Date: Jun 2011
Posts: 543
Life Insurance Options for Past Alcohol Abuse
I just got turned down for term life insurance. I am definitely obese and slowly losing weight but all of my labs came out normal... including liver function, triglycerides, and other measure that become elevated with excess drinking. I am at also very low risk of developing Diabetes, Heart Disease, etc. Never smoked, never took recreational drugs, etc. The reason for denial: "Past social habits". (Past diagnoses from my doctor has been "Mild alcohol abuse".)
I have always had plenty of guaranteed issue life insurance through past employers (5X salary or more) but the current employer only has a guaranteed offer of $125,000 so I am cutting my family short if anything were to happen. (It is a job I intend on leaving in a year or so anyway so my term life needs are very short term.)
That being said, does anyone have any recommendations on options for life insurance until I can get back with a larger employer with better life insurance benefits?
Thanks!
I have always had plenty of guaranteed issue life insurance through past employers (5X salary or more) but the current employer only has a guaranteed offer of $125,000 so I am cutting my family short if anything were to happen. (It is a job I intend on leaving in a year or so anyway so my term life needs are very short term.)
That being said, does anyone have any recommendations on options for life insurance until I can get back with a larger employer with better life insurance benefits?
Thanks!
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Thread Starter
Join Date: Jun 2011
Posts: 543
On a side note, the fact that a large life insurance carrier is not willing to bet on me living for the next 20 years is eye opening... this has sent me into an emotional tail spin of regret, despair, and self-defeatism. After about 30 minutes of solid crying and reflecting, this just reinforced the realization that alcohol has NO place in my life!!
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Join Date: Apr 2018
Posts: 4,036
Hi TeeJay,
Maybe this will be an opening - an interim. Life is changing. Instead of planning for death, plan for living.
More will be revealed. Trust in where the journey goes. Trust that if you're meant to have life insurance, for any reason or no reason, it'll work out in good timing.
Maybe this will be an opening - an interim. Life is changing. Instead of planning for death, plan for living.
More will be revealed. Trust in where the journey goes. Trust that if you're meant to have life insurance, for any reason or no reason, it'll work out in good timing.
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Join Date: Dec 2014
Posts: 2,966
I'm self employed and took out an extra $250K when I was spiraling really hard. I'll check who I'm with and get back to ya. I do pay a higher premium than most because i went in with 'no physical' policy. I would have failed that big time and probably been denied. Actually.. I need to get that rate adjusted now that I'm 'healthier'.
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Join Date: Oct 2017
Location: Minnesota, USA
Posts: 1,468
You should contact a broker for life insurance ( I am an agent for about 7 states) and have them ask all the companies they have about your labs and alcohol use. You will be paying rates, there is no doubt about that.
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Thread Starter
Join Date: Jun 2011
Posts: 543
Some potentially great news...
My life insurance agent called me back and provided a good alternative option to a term life policy... and that is an accidental death policy. (Got the amount of coverage I need and the cost is quite affordable.)
After some thought, we agreed this would be a great stop gap until I maintain a couple of years of sobriety and/or get hired by a company with better group life benefits.
I think this is perfect for me because my recent lab results and family history indicate that I am at a very low risk of developing a terminal illness. (For example some type of test that measures calcification in my heart puts me at less than a 0.1% chance of developing heart disease.)
My primary concern in the near term is really only accidental death (like a car accident). Obviously, this also requires me to maintain improved eating, exercising, and, most importantly of all, drinking habits.
If you are ever in a similar situation, it could be a nice alternative solution to explore.
(If any experts have any words of warning or advice, please let me know.)
Thanks!
My life insurance agent called me back and provided a good alternative option to a term life policy... and that is an accidental death policy. (Got the amount of coverage I need and the cost is quite affordable.)
After some thought, we agreed this would be a great stop gap until I maintain a couple of years of sobriety and/or get hired by a company with better group life benefits.
I think this is perfect for me because my recent lab results and family history indicate that I am at a very low risk of developing a terminal illness. (For example some type of test that measures calcification in my heart puts me at less than a 0.1% chance of developing heart disease.)
My primary concern in the near term is really only accidental death (like a car accident). Obviously, this also requires me to maintain improved eating, exercising, and, most importantly of all, drinking habits.
If you are ever in a similar situation, it could be a nice alternative solution to explore.
(If any experts have any words of warning or advice, please let me know.)
Thanks!
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Thread Starter
Join Date: Jun 2011
Posts: 543
Originally Posted by DreamCatcher17 
This is why I never told my doc about alcohol consumption. GRANTED I was able to stop on my own, without a doc or rehab, if you really need help ASK!
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Join Date: Oct 2018
Posts: 131
TJ, how old are you if I may ask.
This is interesting to me now. I have not been able to get work for the last 18 months...hundreds of resumes have gone out from about 5 separate job platforms. Even if I got an interview, I have some bad issues that would be revealed on a background check...disqualifying stuff. I have even dropped off some resumes for stores with job fliers posted in their window. I am currently looking to pull some equity and buy a business and once I do, I'll have to self insure. Too, my medical history is ugly where all "this" is concerned. Good thinking ahead.
This is interesting to me now. I have not been able to get work for the last 18 months...hundreds of resumes have gone out from about 5 separate job platforms. Even if I got an interview, I have some bad issues that would be revealed on a background check...disqualifying stuff. I have even dropped off some resumes for stores with job fliers posted in their window. I am currently looking to pull some equity and buy a business and once I do, I'll have to self insure. Too, my medical history is ugly where all "this" is concerned. Good thinking ahead.
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Thread Starter
Join Date: Jun 2011
Posts: 543
Originally Posted by cordeliatolear
TJ, how old are you if I may ask.
This is interesting to me now. I have not been able to get work for the last 18 months...hundreds of resumes have gone out from about 5 separate job platforms. Even if I got an interview, I have some bad issues that would be revealed on a background check...disqualifying stuff. I have even dropped off some resumes for stores with job fliers posted in their window. I am currently looking to pull some equity and buy a business and once I do, I'll have to self insure. Too, my medical history is ugly where all "this" is concerned. Good thinking ahead.
This is interesting to me now. I have not been able to get work for the last 18 months...hundreds of resumes have gone out from about 5 separate job platforms. Even if I got an interview, I have some bad issues that would be revealed on a background check...disqualifying stuff. I have even dropped off some resumes for stores with job fliers posted in their window. I am currently looking to pull some equity and buy a business and once I do, I'll have to self insure. Too, my medical history is ugly where all "this" is concerned. Good thinking ahead.
So sorry for your challenges with employment and the like.
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Join Date: Jul 2018
Location: UK
Posts: 431
Originally Posted by DreamCatcher17
This is why I never told my doc about alcohol consumption. GRANTED I was able to stop on my own, without a doc or rehab, if you really need help ASK!
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