Recreatical drug use in the last 2 years

Gillard23

Hello everyone.

Please keep your judgemental comments to yourself. I'm only looking for genuine advice.

My partner has recently been looking at taking out a life insurance policy so we could get a mortgage. Whilst completing the application he disclosed he had used cocaine in the last two years. From that point he was then immediately declined, from what I understand it was a one off and hasn't happened again recently.

The insurance company we were purchasing with then advised that all conversations are recorded and that we shouldn't try again with another provider. This will hold us up on getting our mortgage.

Should we try again else where and tell a white lie or should we put our whole lives on hold now.

please help

forgotmyname

Its not a white lie its FRAUD!!

EdGasket

Can't you get a mortgage without life insurance then? I've never had to get life insurance to get a mortgage or been asked about drugs when getting a mortgage.

Gillard23

As my partner doesn't have a pension if he was to die I think they would want a death in service lump sum to pay off his half of the mortgage

EdGasket

I never heard of any requirement like that; try a different lender or a mortgage broker.

DCFC79

Dont lie as it could come back to bite you.

bearcat16

It could come back to bite you if you lie, but I am puzzled as to how an insurance company could prove you snorted a line a couple of years ago?

I was never asked about illegal drug taking for my life and critical illness insurance policy. That was with Legal and General, so you might want to try them.

Gillard23

Is the information that he has been rejected for insurance in the past held any where? Will he have to always admit to this now. Is there anything we can do

ThinkingOutLoud_2

Ok so he is not the only person ever to have taken drugs and want life insurance. But it may affect which insurers will cover you and the cost.

But first - we need clarity in what happened. I am not quite clear - you say he disclosed it and they declined. So was he honest up front from the start declaring his cocaine use OR does your other comment about all calls being recorded mean he hid that initially?

This matters and drives your future options.

Weighty1

bearcat16 wrote: »

It could come back to bite you if you lie, but I am puzzled as to how an insurance company could prove you snorted a line a couple of years ago?

I was never asked about illegal drug taking for my life and critical illness insurance policy. That was with Legal and General, so you might want to try them.

You should have been asked!

L&G have always (at least in the last 8-years) asked about drug use. The current format is as follows:

During the last 5 years have you used any of the following?
- Recreational drugs other than cannabis, for example cocaine, ecstasy, heroin
- Methadone
- Anabolic steroids not prescribed by a doctor

OP most, if not all, providers would have an issue with illegal drug use if within a relatively short period of time. That said, I arranged cover for a client who'd used cocaine within the last 2.5-years (this was a couple of years ago). The premium was increased but it was offered. I suggest you speak to a specialist broker who'll act on your behalf and can speak directly to the underwriting departments.

In regards to it affecting you getting a mortgage it really shouldn't. Lenders don't really care these days if you have cover or not. They'll just repossess the property if payments can't be maintained.

ACG

Ive done life insurance in the past for people who have all sorts of weird and wondeful drugs (some of which I have never heard of) and also someone who has had heavy use of heroin. Premiums were a little more but both of those insurers no longer exist in the format they were.

It may be worth speaking to a broker who specialises in those with "quirky" circumstances.

On a side note, there is no lender (I am aware of) who insists on having life insurance. You are only tied to having buildings insurance.

Best of luck.