Life Insurance and Recreational Drugs

LegacyUser

I have a problem and I would appreciate if I only received advice from people who know what they're talking about (Sorry if that sounds rude but I'm pretty stressed over this). I'm taking out a life insurance policy and I told my broker that I used to do a lot of drugs, namely cocaine, ecstasy, marijuana, LSD, mushrooms and valium. I also told her that I stopped 2 years ago. Trouble is I took ecstasy on June 18th. Now the insurers have given me a form to fill out about what drugs I have taken and when have I stopped. I just want to know if I'm honest about what I've done will they refuse me a policy? Please, only responses from people in the know.

PirateShampoo

Why would you tell them in the first place?

You should probably read there terms and conditions, theres probably a section in there about voiding the policy if drugs are found in ur system.

wylo

Cmon, lets be realistic here, It does not a rocket scientist or someone 'in the know' to figure out whether you should tell them or not, seriously.

Why you told them you took em in the first place is beyond me, unless its cause you failed a drugs test which they can look up on or something.

LegacyUser

My God, I had trouble sorting my life assurance and I only have mild anaemia- they wanted to know flippin everything about it, you'd swear it was life threatening- so I can only imagine the scrutiny you'll be subjected to. I understand you were trying to be honest, but if you're going to continue taking drugs then maybe it's best from now on keeping the info you give to a minimum.

I don't do any type of illegal drugs but I think at this stage seeing as you told the broker you stopped 2 years ago then continue with that story- it'll only make it more difficult to get the policy up and running. As I said, if something as simple as mild anaemia can hold things up then I'd hold back on admitting to taking anything recently. Maybe I'm wrong, just my opinion.

philologos

Unregistered wrote: »

I have a problem and I would appreciate if I only received advice from people who know what they're talking about (Sorry if that sounds rude but I'm pretty stressed over this). I'm taking out a life insurance policy and I told my broker that I used to do a lot of drugs, namely cocaine, ecstasy, marijuana, LSD, mushrooms and valium. I also told her that I stopped 2 years ago. Trouble is I took ecstasy on June 18th. Now the insurers have given me a form to fill out about what drugs I have taken and when have I stopped. I just want to know if I'm honest about what I've done will they refuse me a policy? Please, only responses from people in the know.

OP, they won't refuse you a policy, but your policy may be more expensive due to heightened risk. I would advise you to be 100% honest however, as legally if you are not honest and if they find this out factually by some means they have a right not to give out anything to you because you were dishonest. It's known as Utmost Good Faith. If you lie on an insurance form / life assurance, it will not be good for you if they find out you have been lying. Simple as.

You should be glad you did tell them, because if they found out you had a history of drugs they would have had a right to withhold any funds from a life assurance plan / insurance because you would have withheld information that was important in calculating a premium.

Bottom line: Tell them, it could have serious affects on your life assurance plan.

astrofool

You're taking out life insurance to cover you in the event of death or major injuries. If something happens beyond natural causes (i.e you're not 90+ years old and die in your sleep), there will be an autopsy, which will contain a toxicology report. If that report shows you were taking any drugs at the time of the accident, or took any in the last number of months, the insurance payout will likely be cancelled.

i.e. if you're not going to be honest when taking out insurance, you might as well not get it.

BankMan

There's a fair few mistruths here OP.

If you admit to taking drugs for recreational purposes recently, you will almost certainly be declined cover. Bear in mind also life companies do share information between themselves on rated / declined insurance proposals.

Also, it's quite unusual for a life company in Ireland not to pay out on a death case, especially if it's mortgage related life cover.

It's not appropriate to give you advice as to what you should state on the form, but you can probably read between the lines.

Best of luck with it - you might want to consider swapping ecstasy for tiddlywinks or something - much less hassle !

philologos

Couldn't you just say you aren't interested and wait a few months before reapplying to the same or a different company?

LegacyUser

Jakkass wrote: »

Couldn't you just say you aren't interested and wait a few months before reapplying to the same or a different company?

Not an option, its for a mortgage

LegacyUser

Can't believe you told them. Anyway well I use recreational drugs and certainly did not tell my insurance company. They never asked so that means they can't refuse to cover me in unlikely event I die through use. So if I were you I would cancel arrangement with existing broker and get your own policy from different broker or different from another company (thats all bank wants that you are covered by someone). If you are young with no medical conditions(have to declare them), they will probably not even give you a medical and you are home free.

I work in a big company that does drug tests on entry. I researched all the testing methods. Ironically only illegal drug that stays in system longer than 2 or 3 days is hash. I had smoked three weeks before medical but passed. One of my colleagues told me he had written on form at the test centre that he smoked marijuna recently at party and doctor laughed and took form and gave him a fresh one saying that he was surprised how many people were so honest.

In this case brother, honestly is not the best policy.

wylo

OP, read up on ecstacy, it doesnt stay in your system for more than a few days at most

kelle

Unregistered wrote: »

Anyway well I use recreational drugs and certainly did not tell my insurance company. They never asked so that means they can't refuse to cover me in unlikely event I die through use.
.

If it's in the small print, they can!

Oh The Humanity

This is pure insanity.....what did you tell them that for ???

Half the people covered do the same and say sweet feck all.

If you die through drug use right there will be no pay out but its incredibly unlikely thats gonna happen....

Now your policy is gonna be heavily loaded!!!

In future when in doubt say NOWT !!!

lynsalot

Hi OP,

It's probably best to go ahead it's done now... and if the ecstacy doesn't show up it's happy days. We got our mortgage last year and needed life assurance. My hubby had to go for a medical and I didn't. We're both overweight so our premiums were higher for SIC so we didn't take it... but interestingly because I'm adopted I wasn't called for a med because there's no family history so nothing to base it on. how strange....

anyway if u haven't taken out your mortgage yet and you've not gone ahead with the life assurance then there's no records. I'd advise going to a different broker if u can and saying nothing. All else fails tell them you're adopted.... might work lol i know its serious sorry i hope it works out for ya mate.