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Can a history of substance abuse raise your life insurance rates?

Can a history of substance abuse raise your life insurance rates?

By M.K. Guetersloh

Life Quotes, Inc.

The hard partying years after college may have been replaced by the calm of married life. But those past behaviors may haunt you like an unwanted call from a former sweetheart—especially when you try to buy life insurance.

In order to receive standard rates, most insurance experts agree that drug and alcohol abuse problems need to be behind you for a minimum of five years.

Excessive use of drugs and alcohol can cause a number of serious health conditions. Researchers from the University of North Carolina, Chapel Hill, Bowles Center for Alcohol Studies, estimates that alcohol and drug abuse can decrease your lifespan by nearly 10 years. Among the health risks, drug and alcohol abuse can cause high blood pressure, cancer (breast, esophageal, mouth, larynx and pharynx), liver disease, and heart or respiratory failure. The American Cancer Society reports that 2 to 4 percent of all cancers are directly related to alcohol abuse. The mixing of drugs and alcohol can be immediately fatal leading to seizures, coma, heart attack and respiratory failure.

“That kind of behavior can affect your rates catastrophically,” says Ryan Pinney, a high-risk insurance specialist for Roseville, Calif.-based Pinney Insurance Center, Inc. “It’s a health hazard and a moral hazard.”

In addition to affecting your rates for life insurance, Pinney says, drug and alcohol abuse can also affect your health and auto insurance rates. In some instances, if you have a DUI, you might find your auto insurance policy cancelled altogether.

While drug and alcohol dependency is a fairly common obstacle for those seeking life insurance, Dr. Robert Pokorski, Chief Medical Strategist for The Hartford, says that it’s still not impossible to get a life insurance policy at an affordable rate— if you no longer drink.

“The classic case is: you have someone who is getting a little older and realizes they need to take better care of themselves,” Pokorski says. “If they put five years between themselves and those events, they are very insurable and can get standard rates.”

Insurers ask prospective policyholders to be forthcoming on medical questionnaires, but if you pass the medical questionnaire you’re still not out of the woods yet. Insurance companies also review a prospective customer’s medical and driving records along with blood and urine tests.

Pinney says of you have a problem with substance abuse—the best course of action is to talk to an agent about those problems

How do they know?

Insurance companies can access information about a person’s health status through the Medical Information Bureau (MIB). The MIB protects insurers, policyholders and applicants against insurance fraud in the life, health, disability, critical illness and long-term care lines of insurance.

If you’ve been denied life insurance due to a health risk such as substance abuse, a record of the denial is kept in the MIB’s database,

“Any insurance company can look up your information in the database,” says Pinney.

For that reason, Pinney says, “The worse thing they can do is blindly apply to several insurance companies for coverage and omit information, especially after a denial.”

Although drugs are more difficult to detect and some insurance companies such as The Hartford don’t test for drugs, alcohol abuse can be found in several tests used by most insurers to detect problems with liver function. During a paramedical examination, blood samples are subjected to a Carbohydrate Deficient Transferrin (CDT) test to rule out liver disease. Often, when excessive drinking is involved, a person’s liver function will be elevated.

“Honestly is definitely the best policy,” Pinney said. “If you don’t disclose to an insurance company that you have a problem and they find it in your blood work or they find that you were arrested for driving under the influence last year; they won’t be very happy and they won’t insure you. In fact, no one will.”

Allen Hixon, manager of State Farm’s life and health underwriting division, agreed.

If someone is able to hide their problem from an insurance company’s review and a policy is issued, Hixon says insurance companies might balk at paying the claim to beneficiaries if it’s found out later that they hid information.

“If an insurance company can argue that the policy was entered into fraudulently that could limit what the beneficiary receives,” Hixon said.

Hixon and Pokorski add that unlike hard drugs, insurers view alcohol and marijuana a little differently.

“How someone gets the hard drugs can also make a difference,” Hixon says. “If the abuse comes by someone who has been prescribed chronic pain medication and they can’t shake it, it’s a little different than someone who is going out to the street corner to buy cocaine or heroin.”

For those who have gone through treatment and recovery, insurers recommend waiting at least two years before seeking life insurance.

State Farm generally uses two years of being clean and sober as a benchmark to revisit a policy, but Hixon warns that the rates may still be a little higher.

Pinney says that insurance companies are looking for three things when it comes to underwriting drug and alcohol abuse:

complete disclosure of problems,
compliance with their doctor’s orders to stop the behavior,
and what is the ultimate result of that person’s efforts to remain clean and sober.



Facts and Myths about alcohol

1.) A person who wants to drink less alcohol should drink white wine.

Fact:

The standard 5-ounce serving of white or red wine, a 12-ounce bottle of beer and a ½-ounce shot of 80 proof distilled spirits contain the same amount of alcohol and register the same on a Breathalyzer test.

2.) Drinking red wine is good for your heart.

Fact:

Red wine can prevent heart disease if it is limited to only one drink a day.

3.) DoesDrinking beer causes a “beer belly”?

Myth:

Eating too much food causes a “beer belly.” No beer or other alcohol beverage is necessary is needed to create one.

 4.) Drinking will add pounds to your waistline.

Myth:

Drinking alcohol does not cause weight gain. This myth is widely believed because alcohol does have calories. Extensive research has concluded that it does not cause weight gain in men. For women, the research found alcohol frequently causes limited weight loss.

5.) Only college students binge drink.

Myth:

Few college students are binge drinkers. In recent years, the number of students that drink continues to decline including the number of students that drink heavily. Some researchers have defined binge drinking as consuming at least four drinks a day for women and five drinks a day for men. Many college students become branded as binge drinkers because they qualify under that definition. However, by definition binge drinking is an extended period of drunkenness that lasts for several days while the drinker drops out of normal life activities.

6.) Men and women can drink the same amount of alcohol if they are roughly the same height and weight.

Fact:

Men can metabolize alcohol faster because they have more lean muscle than women. Lean muscle helps dilute the affects of alcohol because it increases the percentage of body water. Women typically have a little more fat than lean muscle compared to men. Also, alcohol can affect women more rapidly. Women also have less of the enzyme dehydrogenase, which metabolizes alcohol. And woman’s menstrual cycle also affects how alcohol is absorbs and metabolized.

7.) The strictest drinking laws are found in the United States

Fact:

Among Western nations, the United States has the strictest drinking laws for young people. Age 21 is the highest minimum drinking age in the entire world. These tight rules continue by covering adults with zero tolerance rules regarding public intoxication and drinking and driving. 8.) The country with the highest consumption of alcohol in the world per capita is the United States.

Myth

9.) The United States is ranked 32nd with an average consumption rate of 1.74 gallons of pure alcohol per person annually.

Myth:

According to latest estimates, the Top 10 Alcohol Consuming Countries and the average gallons of pure alcohol consumed per person is:

Portugal 2.98
Luxembourg 2.95
France 2.87
Hungary 2.66
Spain 2.66
Czech Republic 2.64
Denmark 2.61
Germany 2.50
Austria 2.50
Switzerland 2.43

Sources: Alcohol: Problems and Solutions, Hanson, David; Carroll, C.R. Drugs in Modern Society; Cline, C. N. (Ed.) The Frequently Asked Questions (FAQs) of Life; Wechsler, H., et al., Journal of American College Health, 1998; National Institute on Alcohol Abuse and Alcoholism; Avis, H. Drugs and Life; Lowenson, J., et al. (Eds.) Substance: A Comprehensive Textbook; Barr, A. Drink: A Social History of America.

This article originally published on www.lifequotes.com.

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Car Insurance Tidbits For Las Vegas, Nevada Motorists

Car Insurance Tidbits For Las Vegas, Nevada Motorists

Car insurance in Las Vegas is available through many providers.  Some popular insurers you might be familiar with include State Farm, Bristol West, Travelers, Badger Mutual, Colorado Casualty, Safeco, Farmers, Allstate and ANPAC.  These and others will vary in how much they charge on premiums.  So no matter how large or small a provider, it’s wise to compare auto insurance rates before you buy.  You might be pleasantly surprised at the savings.

Facts to Know about Las Vegas

Auto insurance providers use various statistics to determine rates.  They consider how long the average commute to work is for local residents, which is 25.4 minutes in Las Vegas.  Providers also consider how many fatal car crashes there are in a specific city.  Las Vegas had 45 fatal automobile accidents in 2007, which involved 125 people and 76 automobiles.  Auto thefts are also considered.  If you have a car, truck or SUV that’s on the top ten list for stolen vehicles, then your insurance premium might be somewhat on the high side.  In Las Vegas, there were 16,445 thefts in 2007!  The most stolen vehicles in the state of Nevada include the 1992 Honda Accord, the 1991 Toyota Camry, the 1994 Nissan Sentra, the 2003 Chevrolet Tahoe and the 1995 Honda Civic.  If you’re getting ready to purchase a new car, look up the most stolen cars in your area and be sure to compare car insurance rates before you buy.

Know the Requirements in Nevada

Las Vegas motorists must follow the auto insurance guidelines set by the state of Nevada.  The state law requires a minimum of ,000 per individual of Bodily Injury Liability and ,000 total per accident.  For Property Damage coverage in NV, the minimum is ,000.  You might see these Nevada state requirements written as 15/30/10.  Uninsured and underinsured motorist coverage are not required in Nevada; however, these types of coverage can provide peace of mind if you are ever hit by a driver that has inadequate coverage.  Nevada uses the Tort system, which means the “at-fault” driver is responsible for damages or bodily injury caused in an accident.

Shopping for Las Vegas Car Insurance

It’s a good idea to compare many car insurance providers before deciding on a plan or provider.  Use online quote sites to do a free comparison.  This will save time and money, and enable you to get a bird’s eye view of what several companies offer.  Quote sites may offer quotes for 25 to 50 providers at a time.  Be sure to include all your vehicle information, driving history, any discounts you are entitled to, etc.  This will ensure that your quote is accurate and you can do an informed comparison.  Keep in mind that many factors will be considered to determine your rate, including your marital status, where you live in Las Vegas, your average commute to work, credit score, driving history, etc.

As you shop for car insurance, remember that not all providers are created equal.  Compare rates and customer service ratings.  The Nevada Department of Insurance website is a great resource along with Better Business Bureau and several car insurance financial rating sites.  Get started today to find Las Vegas car insurance that fits your budget!

Cheap Car Insurance In Ohio

Cheap Car Insurance In Ohio

Low cost Ohio auto insurance rates are available from most major auto insurance companies. Geico, Progressive, State Farm, Allstate and many other Ohio car insurance companies offer low cost policies. Ohio premiums tend to be much lower than most other states and a wide range of plans are available to both individuals and families. Of course, all policies must meet the state’s guidelines for financial responsibility.

Typically, Ohio auto insurance rates are lower in the southern portion of the state. Rates in the Cincinnati, Dayton, Springfield and Columbus areas tend to be less than rates in the Cleveland, Akron, Canton and Toledo areas. However, each company offers different rates in each area, so it’s always wise to get multiple quotes from different carriers. And sometimes, neighboring counties may have rate differences by as much as 20%.

There are many ways to reduce your auto insurance rates. Perhaps the most popular option is to increase the collision deductible. If you rarely have at-fault accidents, increasing the deductible from 0 to 0 or 0 could save hundreds of dollars every year. There are numerous other available cost-saving ideas including a “good driver” discount, “55 and retired” discount, “multiple policy” discount if you have more than one line of insurance with the same company, and a “good student” discount if there is a youthful driver in the household.

Eliminating unneeded coverage can also reduce your rate. Although it’s tempting to purchase extra benefits, it could also prove to be very costly. Roadside assistance benefits may be costing you -0 per year. But often, you may already have that coverage through a new vehicle warranty or from a credit card benefit. It’s always a good idea to check your policy for benefits that you may not need. An annual review of your entire policy is always recommended.

Ohio law requires auto insurance policies to contain bodily injury and property damage liability coverages. Insurance cards must be provided by the insurer for every vehicle on the policy. A certificate of proof of financial responsibility is also required on a form provided by the Ohio Bureau of Motor Vehicles (BMV).

The minimum allowed bodily injury coverage for Ohio drivers is ,500 per person and ,000 per occurrence. The minimum allowed property damage coverage is ,500. Of course, you should carry much higher limits on your auto insurance policy since current law allows a victim to sue and possible recover your assets to cover the cost of their damages. Each of the minimum coverage limits should be increased by 400%, if possible.

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Better Approach to Buying Car Insurance

Better Approach to Buying Car Insurance

Buying car insurance online is a common trend in now common among savvy drivers in an attempt to try to save money on needed and legal coverage.

Car insurance is not just there to compensate drivers for damages, but it’s also a legal requirements. As the cost of living continue to rise, people are using the internet to search, compare and buy car insurance online from different websites.

Most customers will try to visit well known car insurance carriers such as Geico, State Farm, Progressive or Nationwide. A better way to do this is buy comparing quotes from as many insurance companies as possible ideally using a single form and single results page. Buycarinsurancetoday.com has been on a mission since it foundation on 2007 to help online customers with this process.

No, it’s not an exaggeration. A host of sites are already offering customer to purchase car insurance online with a few simple clicks. In many cases, you don’t need to provide personal information to start. Selecting a state or typing a zip code can get you started with the available insurance providers available near you.

The next stage of your car insurance shopping will require more details. Personal information, vehicle details and other little information are usually request by the insurer to automatically generate a custom quote. Different companies utilises different systems for generating car insurance quotes online, so make sure you don’t go buying the first policy you come across.

On 80% of the cases, customers are able to get an instant car insurance quote and buy then and there. If you happen to be a bad driver, banned or have a bad credit history, you will either be directed to page that requires you to call the insurance provider or simply referred to an agent.

Shopping for car insurance quotes doesn’t get any easier today. It only take a few clicks to get, compare and buy car insurance online with confidence from the best insurance companies in the country. Just remember not to turn off small insurance providers as they can be equally efficient in providing excellent auto insurance coverage for less to win new customers.

As a final word of advice, do check the car insurance provider out before you hand out your credit card information. Large and well known insurance providers have a clear branded site. If unsure, call the insurer and check their registration with the Bureau of Motor Insurance website in your state.