Just say no to drugs?

2cb

Should I just say no when asked by a Life Insurance provider about any history of recreational drugs?

I've just started looking into this, and although I will speak to an IFA to find the right product, I'm probably looking at a level term policy. Before I speak to anyone though, I need to decide in advance what information I'm willing to give out.

I've tried pretty much every drug available, some of them regularly for a number of years.
But, I've never injected, never needed medical attention as a result of drugs, never had employment problems, and never been caught by the police. As far as I can see, there's no way anyone can find out. Unless of course they start questioning friends or work colleagues.
Admitting the full extent seems to be a crazy idea, but is even admitting a bit of dabbling going to mean trouble? Once I've owned up to an insurance company it's there on record, and I'll never have the option to keep quiet about it again. That seems to be a big risk. Against this I have to weigh up the risk that they might find out, and not pay out.

Can anyone provide some information on how much effort they put into investigating this sort of thing? I assume that all Life policies are void if you are under the influence when you die, even if drugs aren't the cause? This is the only way I could see them finding out, and it's irrelevant then anyway.

There must be a few more people like me out there who have been through this, it would be good to hear your thoughts (anonymously of course!).

laurel7172

2cb wrote: »

I assume that all Life policies are void if you are under the influence when you die, even if drugs aren't the cause? This is the only way I could see them finding out, and it's irrelevant then anyway.

I'm sure somebody else will be able to answer that question. But if you don't care whether your life insurance policy pays out or not, why are you wasting money on premiums?

geri1965_2

Do they even ask this question?

shelly42

And people complain as to why insurance companies need to investigate claims so thoroughly....

So are you going to put your family at risk by not disclosing full details just to leave them stranded if your claim gets turned down?

homerjh

I have never heard of this before EVER.

basically if you USED to dabble then if you do croak it and it is not suspicious then there wont be an issue, ie at 80 you get ill and die.

however if you still use them and die suspiciously, ie at 40 you die whilst semi naked with powder around your nose then i would expect the insurers to investigate further!

also if its a QUOTE then check elsewhere! unless drugs are the cause of your death then you should be fine !

2cb

@homerjh

Maybe I've been getting worried about nothing. I haven't got any quotes, I've just been browsing this forum to get some background info before I start.
I came across a couple of threads where someone had said that they'd admitted prior drug use to an insurer and ended up regretting it.
I take it that you have life insurance and didn't get asked?

OshayAway

The golden rule with all things insurance is disclose everything.

However, I would suggest that in this case you would benefit from advice. This is because insurers do vary when it comes to how they asses risk and that is reflected in how they each word application questions. As an example, some will ask, have you ever used non-prescription / recreational drugs etc. However, some insurers will ask, in the last five years have you injected any non-prescription drugs or specify "apart from cannabis, have you used..."

The biggest problem you will have is finding a whole of market broker / adviser who is willing to make some phone calls pre-application (its all anonymous)to see which insurer would take the most favourable stance in your situation.

In terms of exclusions, a few providers have now removed all standard exclusions so that may be worth factoring in also.

I hope that helps.

2cb

@OshayAway

That is helpul, thanks. I just need to restrict my applications to providers that don't ask questions that apply to me, and I can apply without worries. I'd much rather do that than disclose, and have the info on record somewhere.

I don't suppose there's a list of what questions each provider asks is there?

2cb

@OshayAway

That is helpul, thanks. I just need to restrict my applications to providers that don't ask questions that apply to me, and I can apply without worries. I'd much rather do that than disclose, and have the info on record somewhere.

I don't suppose there's a list of what questions each provider asks is there?

starrystarry

shelly42 wrote: »

And people complain as to why insurance companies need to investigate claims so thoroughly..../QUOTE]

Yep and you never see a piece on Watchdog about how many people lie to their insurance companies do you? And before anyone encourages this person to lie, just remember that everyone else ends up paying more in the long run.

This illustrates why some insurance companies may be harsh on people who have used drugs in the past, because their history paints a picture of the type of person applying for the insurance.

GEEGEE8

If you don't use them now and aren't planning to in the future then I wouldn't bother saying anything really. I don't see how they would find out, and if past use hasn't caused any medical issues that you are aware of then it's not likely to affect how you eventually die.