Alcoholism is a chronic medical condition characterised by the inability to control excessive drinking caused due to his or her physical and emotional dependence on alcohol.
It is one of the leading social and medical issues all around the world and could lead to other medical complications.
It is a very common condition and often requires professional assistance to be controlled. It can’t be cured but with the right guidance, it can be managed.
Life insurance and alcoholism
Insurers are willing to provide standard rates to individuals with a history of alcoholism however adequate proof that they have been clean for years and their other medical records are in ideal condition.
Since alcoholism can lead to a series of other medical conditions the insurance underwriters will look through your medical and social history with a fine-tooth comb.
Factors that affect your life insurance
Many key factors will be carefully looked at by the underwriters before the insurers can quote the level of premium they are willing to offer you.
- Length of time you were an alcoholic
The insurance underwriter will ask you for how long you were physically and emotionally dependent on alcohol.
- If you suffered any liver damage or any other condition as a result of your alcohol dependency.
Alcoholism can lead to permanent damage to your heart, liver, digestive organs while also causing memory problems and other neurological complications.
Details of all such conditions have to be disclosed to the underwriter.
- Control measures you practised or practising
If you were admitted to any medical facility to help you quit alcoholism or if you were or still are part of a social support system you need to provide relevant details to the insurers.
- Psychological side effects
If you suffered any psychological side effects as a result of alcoholism including depression, anxiety or suicidal thoughts etc, the insurers will like to know.
We understand that talking about something as sensitive as alcoholism can be challenging for you, however, we do encourage you to answer all questions with utmost honesty.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00