Affordable Life Insurance With Hydrocodone Use – Get The Best Deal
Life Insurance With Hydrocodone Use
Impact on Underwriting Class:
Preferred + Rates Possible
Rate impact based on time & level
of use, Severity of underlying cause
History of Abuse, Overall Health
Can I be approved for life insurance with a history of Hydrocodone use?
Every applicant for life insurance with Hydrocodone use can be approved for a policy.
However, the type of policy that can be approved, and the rates charged, will depend on the length of your Hydrocodone use, the underlying cause, prognosis for discontinuing use, any disability during use, history of drug or alcohol abuse, and your overall health.
Because the underwriting standards are different for each type of policy, this review of life insurance options with opioid painkillers is broken into three sections: (click link to go directly to section)
What information will life insurance companies want to know?
In order to underwrite your application life insurance carriers will need to know the symptoms that you have experienced -including any work missed due to the disorder, the treatment undergone, including prescription drugs used, and any medical follow up.
For a more exhaustive discussion of the underwriting of hydrocodone use applications please scroll to What Insurers Will Want to Know
Will I need to take an exam for life insurance with Hydrocodone use?
Depending on the length and underlying cause of your use you mayl need to take an exam to get the best term rates available. Click here for more on the exam.
If your use is short and for a temporary issue, you may qualify for competitive rates without having to take a medical exam. Also, if it turns out that simplified issue or guaranteed issue policies are the best fit for your application, no exam will be required.
How much will my life insurance cost and how exactly is the rate affected by my Hydrocodone use?
The rates you pay for tem insurance are dependent on the underwriting class you are graded by the carrier. Hydrocodone use generally will not have an affect on the underwriting grade if the underlying condition is temporary..
Cases that have a history of interrupted employment due to the condition may be rated as substandard. The severity of the "table " rating will be dependent on the severity of the applicant medical history.
How accurate are the quotes I get from your quote tool?
The quotes you receive from the quote tool on this site are 100% accurate for the information inputted. That is to say, if you get the rate class correct- your rate will be correct. The problem with online tools is that people generally think they are inn better or worse shape than is reality.
If you are unsure about rate class you should choose a range and hope to be pleasantly surprised. Alternatively, you can fill out the customized quote form and we will get in touch with you as soon as possible.
How can I improve my underwriting score and lower my life insurance rates?
The most effective ways to improve your life insurance rating are to use an agent that has access to the companies that will view you most favorably and to take care of your health.
See Why to use Independent Agent when Shopping for Life Insurance with Hydrocodone use to better understand the reason to use an independent agent.
As far as lifestyle goes, if you take diet and exercise seriously along with limiting alcohol and quitting smoking (if you smoke), it should be reflected in your blood markers.
if you have a medical condition that requires opioid pain killers, documenting compliance with medical advise and any medications is very important. Obtaining Having a physicians letter stating that you have been compliant and improving is helpful.
Do these things and you can't help but improve your health and your life insurance rating.
What are the best life insurance companies for pain killer use?
Life insurance companies have differing appetites for specific risks. These appetites are reflected in underwriting and ultimately pricing. Simplified issue carriers will be state dependent and three of the better known term carriers for dealing with prescribed opioid use are Prudential, American General (AIG), and Banner.
However, risk appetite can, and does, change and the only way to guarantee the best possible deal is to work with an experienced independent agent. see the case study here to get a clear understanding.
What is the application process for life insurance with Hydrocodone use?
The life insurance application process is an eight step process that includes choosing your terms, picking a carrier, submitting to the exam, and signing documents (digital signatures accepted). The entire 8 step process is laid out for you here.
When applying for life insurance with a history of Hydrocodone use , carriers will want to know as much as they can about the risk they are being asked to insure. This is no different than how the carriers deal with any other condition like high blood pressure and Atrial Fibrillation or lifestyle choices like marijuana use or or scuba diving.
The purpose of this article is to provide a background on the information insurers will require of you, and answer any questions you may have about how to obtain life insurance with Hydrocodone use disorder at the best price possible.
Traditional Term Life Insurance with Hydrocodone Use
While it is not uncommon to see applications with Hydrocodone use, associated with a recent injury or surgery, receive standard and even preferred ratings, it is also not uncommon to see offers rated as substandard. However, the severity of the rating can vary significantly, therefore it's important that you use an agent that is experienced with pain killer use cases and has access to the carriers most likely to be receptive.
The process of obtaining a term life insurance offer with a history of Hydrocodone use is similar to seeking life insurance after a heart attack, Sleep Apnea or AFib and many other specific conditions.
Primarily, term life insurance is available for lengths ranging from 5 years to 30 years with 20-year terms being the most popular. Term policies usually have a minimum face amount of $50000, and the policies terminate at the end of the term period or can be renewed annually at a vastly increased rate.
Things to Know About Term Insurance
In addition to the period of insurance, it is essential to understand the available policy riders. Riders are additional benefits that, often for an additional cost, are included in your policy.
The five most prominent riders are listed below with links to in-depth descriptions.
- Waiver of Premium
- Living Benefits
- Conversion Privilege
- Child Rider
- Additional Purchase Option
While there is no waiting period for the insurance to go into effect, the insurance company has a two-year window from the policy start in which they can contest a benefit for material misrepresentation on the initial application. So, honesty is the best policy.
You can dive deep into the ins and outs of term life insurance, learning about available term lengths, riders, financial ratings, and rates. The Life Insurance Help Desk works with the top term life insurance carriers.
What Life Insurers Will Take Into Consideration
When applying for life insurance with Hydrocodone use, or any other condition, underwriters will generally be concerned with some basic questions:
- Do you fit into the usual risk factors for the condition
- What are/were your syptoms
- What was the Diagnosis & Treatment
- What is the aftercare (follow up & compliance)
- What is your health like apart from the condition/history in question
While the outline above is general in form , the questions will require specific answers. These answers will be gathered from your application, a telephone interview, the Medical Information Bureau, a Script Check, and possibly an attending physicians statement (APS).
Lets look at the general areas of inquiry one at a time.
Do you "fit" into the usual risk factors for Hydrocodone use
Underwriters will want to know the underlying cause for the Hydrocodone prescription, Further they will probe for any signs of substance abuse such as DUI.
The reason it matters with most conditions is that underwriters are more comfortable with making offers when an applicant fits into a common pattern. If the condition doesn't fit, there is a real possibility that something else is at play. When this is the case, underwriters will take a harder look at the file.
What are/were your underlying symptoms that caused the Hydrocodone Use?
Underwriting will want to know the symptoms you had (if any) and how long you had them before the diagnosis.
Your Diagnosis and Treatments
Life insurance underwriters will want to know the date of first diagnosis that led to Hydrocodone use, and of any subsequent major flare-ups. Underwriting will also want to know what other medications you have been prescribed for the condition.
While information that is "foggy" will be taken from your medical records, knowing the dates of diagnosis and treatments is necessary to get an accurate quote for life insurance with Hydrocodone use.
Your Follow Up Care
For Life insurance with Hydrocodone use, underwriters will want to see that you have been compliant with medical provider instructions to solve the underlying cause for the use of pain killers.
Your Over all Health (and related conditions)
While any application for life insurance with Hydrocodone use will take into consideration your overall health including conditions like high cholesterol and gout, underwriters in pain killer cases will specifically look for certain related conditions.
Among the related conditions of special concern to underwriters are:
No Medical Exam Term Life Insurance with Hydrocodone Use
The term life insurance market is quickly adopting accelerated underwriting programs that do not require a medical exam as part of the application process. However, these no exam or non-med policies may not be available if you have had a lengthy history using Hydrocodone.
Cases of short Hydrocodone use due to injury, will likely qualify for no exam offers. However, cases where use is seen as more chronic will not qualify for no-exam options. Without the no exam option, you will be required to take a para-medical exam.
The exam is usually a 15-20 minute meeting with a nurse. Your exam will consist of a blood draw, a urine sample, and height and weight recorded. The exam is free and can be done at the location of your choice.
Note that more expensive simple issue and guaranteed acceptance policies do not require exams.
Possible Underwriting Ratings with Hydrocodone Use
Because applications for life insurance with Hydrocodone use are evaluated on a case by case basis, your story always matters. That is to say two people with the same age and condition may get vastly different offers from the same carrier based on age of diagnosis and patient compliance.
Because each case is different, the following pricing scenarios are the best estimates based on experience.
Best Case – If Hydrocodone use is short term and due to a temporary condition, some cases have a chance for a preferred/preferred plus rate.
Mid Case –If your Hydrocodone use is longer term and due to a chronic condition, you may be looking at a standard to mild substandard rate (table 2/B).
To learn about how table ratings work click here.
Severe Case – If your Hydrocodone use is long term due to a chronic condition and you have a history of that includes abuse, the best you will likely do is a severe substandard rate. You calculate this rate by multiplying the standard rate by 3 (table 8/H).
Decline– For a severe case you may be declined for traditional coverage. If this is the case you may be eligible for a smaller face amount policy. These policies are referred to as Guaranteed issue or simplified issue. If you have been declined please contact us.
Pricing For Term Life Insurance With Hydrocodone Use
At the top of this article we stated that any body can be approved for affordable life insurance with Hydrocodone use. Note, however, we mention “affordable” rather than inexpensive or “low cost’. The reason for the distinction is that life insurance with Hydrocodone use is not always cheap life insurance.
Often times, because the coverage can be expensive on a per benefit dollar basis, the benefit is reduced to make the life insurance affordable. While this is often not an ideal situation, the truth is we all have to live within our budgets, and sometimes the way to make life insurance with Hydrocodone use affordable is to reduce either the term of coverage or the benefit amount.
The difficult part of term life insurance with a history of Hydrocodone use is finding the best deal. This is because different carriers have differing appetites for certain kinds of risks. As a result
navigating this process is not as easy as using a quote tool and picking the lowest price. This is discussed in detail in the case study below...
$500000 20 Year Term
$100000 10 Year Term
$250000 10 Year Term
$200000 20 Year Term
Why to use Independent Agent when Shopping for Life Insurance with Hydrocodone Use
Now you already understand that your story matters, and that two people in similar situations can get very different offers from the same carrier.
What you might not know is that different insurance companies will also treat each case differently.
For example Lincoln Financial may have more of an appetite for the risk that life insurance with Hydrocodone use presents than say AIG. In this case the underwriting grade will reflect this increased appetite.
So, if your Agent only represented one carrier and you found out later that that you could have gotten a rate 35% or 45% better, how would you feel?
You’d probably be mad either at the agent or yourself or both. So it’s important that your Agent represent multiple carriers.
In fact a good independent agent will have access to over 50 carriers. This ensures the best chance at a good rate.
Note, that if he doesn’t, he may not be in a such hurry to let you in on this info.
Case Study Pricing Policies with Depression
So, I have been preaching about the importance of using an independent Agent and you may think that sounds a bit self serving coming from an independent agent.
You’re right, it is. However, it is also the (provable) truth.
Please see the case study below . it will show why it is in your interest to have as many options as possible available when shopping for life insurance with opioid pain killers or any other impairment.
Gender: Female Age: 29
$1000000 20 Year Term
3 month Hydrocodone Use due to back surgery. Diagnosed Age 28
No history of drug or alcohol abuse
This looks like a best case scenario that would be either Preferred, Standard Plus or Standard depending on the insurers appetite for a Graves disease risk.. Let’s take a look at the rates.
- preferred Rates
- standard plus rates
- Standard Rates
Life Insurance Company
Life Insurance Company
Life Insurance Company
This table which shows only a few of the major life insurance companies available illustrates the difference in rates.For Preferred rates Prudential is 29% more expensive than SBLI.
On it’s face this seems like a pretty straight forward choice and if underwriting grades between carriers is the same, it really can be that simple. This kind of easy price shopping is particularly useful for younger folks in good health and demonstrates why you want to use an independent Agent.
For people who need to use pain killers or any other serious diagnosis, it gets much more complicated.
Because life insurers manage their appetite for specific risks by being more lenient or more stringent with underwriting grades, you need to know which company will grade you a preferred risk and which ones will grade you as standard (or worse).
In the case above, because the Hydrocodone use is moderate and the applicant is in excellent health, Prudential (the most expensive standard rate) is not a factor. However, if her health was not quite as good as this example, Pru would likely be among the best deals because of more lenient underwriting.
That is if the more competitively priced carriers dropped her rating to standard or standard plus Prudential would likely be the best deal because they might still rate her as P+.
This is something you can’t know by simply looking at the lowest price. In the alternate scenario using an independent agent could save you 17% (the difference between Prudential @ preferred and AIG @ Standard).
Obtaining Life Insurance With Hydrocodone Use
With a couple of caveats, the process of obtaining life insurance with depression is essentially the same as for any other condition.
The information that you will be required to provide in order to get the most accurate quote is as follows:
- Date of Diagnosis that required Hydrocodone
- Age at Diagnosis
- Treatments Undergone (with dates)- This will require a list of any pharmaceutical drugs being taken as well as any prescription changes.
- Work history, including any application for disability benefits.
- Any history of drug or alcohol abuse / DUI
- Other Health Issues
Simple Issue Final Expense Burial Insurance with Hydrocodone Use
Final expense or "burial insurance carriers are generally not concerned with use of pain killers. Unlike term carriers, short of bi-polar disorders, final expense insurance companies don't concern themselves with psychological issues. In fact, with most final expense carriers you are likely to end in day 1 coverage (no waiting period).
Regardless of the nature of Hydrocodone use, there is no issue in getting coverage.
These "no-exam needed" burial policies are the next best choice for anyone who will not get through traditional underwriting.
The "final expense" market serves differing consumer needs. There is the need that is made obvious by the name "final expense". This term refers to a funeral, burial and miscellaneous cost tied to the rituals surrounding life's end.
Many of the buyers of these end of life policies simply want to remove any financial burden their funeral and burial would cause to their loved ones, while others want to leave a legacy.
Alternatively, the simplified issue marketplace serves as a safe harbor for people who need some life insurance, but cannot qualify for traditional term underwriting. The lenient underwriting standards of this market allow for people with a history of chronic pain killer use to get coverage.
How the policy works will be dictated by the type of final expense or burial policy it is:
- First-day Coverage
- Graded Coverage
How Final Expense Life Insurance Works with a History of Hydrocodone Use
With death benefit face amounts that top range from $5000-$100000, the simplified issue or "final expense " life insurance market is mostly made up of whole life insurance products. However, there several policies that have components of term policies starting to emerge. Make sure you know what you are buying!
Whether term or whole life, the calculation of the death benefit depends on if the policy is first-day coverage or graded
First day policies are straightforward, and provide a full death benefit from day 1 of the policy.
Graded policies use a two or three year period in which the benefit increases to the face amount over the contractual time period.
These policies commonly pay premiums plus interest if you die in the first year of the policy; 30-50% if you die after one year but before two; and full face amount after two years.
The carriers offer graded policies based on the applicant's health. These provisions are a way for the carriers to provide coverage while limiting their risk.
Graded or not, a whole life policy has a fixed premium that cannot increase and the policy stays in force until the premiums stop being paid or the insured dies.
Final Expense pricing with Hydrocodone Use
In addition to different underwriting standards, final expense pricing is complicated by the fact that a lot of providers only operate in certain states.
As a result the samples below are of limited value. You should use the final expense quote tool found here.
$25000 "Final Expense" Whole Life 1st Day Coverage
$15000 Final Expense" Whole Life Graded Coverage
$15000 "Final Expense" Whole Life 1st Day Coverage
$10000 "Final Expense" Whole Life Graded Coverage
No Exam, but possibly a phone interview
Many burial policy insurers will have 10-15 minute home office interviews using the telephone. They are looking for the use of prescriptions that do not come up on their prescription check and assessing cognitive function. Be alert!
Final Expense Policy Features
There are fewer riders associated with simplified issue policies than traditional term, but living benefits such as the accelerated benefit for terminal illness, and chronic illness are fairly common. Additionally, some final expense policies have a small cash component and have loan provisions.
The contestability laws are the same for all types of life insurance policies. That is, the carrier has two years from the origination of the policy to contest the benefit payout on policy where the application contained material misstatements.
What Final Expense Life Insurers Will Take Into Consideration When It Comes To Hydrocodone Use
As stated before, simplified underwriting is unconcerned with pain killer use. Unlike traditional underwriting that grades on a scale, "final expense" is a yes or no proposition.
Note that "yes" is divided into first-day coverage and "graded" categories. Depression offers are generally "level day one" unless there are other serious health concerns.
With regard to other impairments, underwriting will want to know if there are any and what they are. Such impairments that limit activities of daily living or ADL's ( eating,bathing, dressing, and toileting, transferring & continence), require home health care or nursing rehab. These issues may force a waiting period or outright decline.
Final expense policies contain "knockout" questions and prescriptions. pain killer medications in most cases will not knock you out of 1st day coverage.
Next Step For Final Expense With Hydrocodone Use
Because most final expense underwriting rules differ wildly, it's unusual that you can just go to the final expense quote tool and start. However, unless you have other serious conditions, that is exactly how to start.
Because Hydrocodone use is not usually an issue with final expense carriers, the best price may win. Remember to use the quote tool on the "final expense" page. The quote tool on this page is limited to term quotes.
Upon receiving your quote request, we will be in touch as soon as possible (often in minutes), and we will help you through the process. The whole process shouldn't take more than 30-40 minutes.
We are committed to a transparent pricing process and are happy to share a computer screen with you or send a video of the method used to get your rate. If you have any questions, please contact us.
Guaranteed Life Insurance for Hydrocodone Use
As a stand-alone condition, Hydrocodone use does not require the use of guaranteed life insurance. However, if there are additional impairments and the only offers are "graded", it may make sense to use a guaranteed policy until the 1 or 2 year period passes and you become eligible for day one coverage.
Additionally, if you are physically impaired due to additional conditions and require home health care, or nursing facility, you will likely require guaranteed life insurance
If this describes your situation, keep reading.
Pricing for Guaranteed Issue policies
Guaranteed policies should only be used as a last resort. In addition to the benefit grading provisions that make the policies toothless during the two or three year grading period, they are the most expensive policies sold.
Male Monthly Rates
Female Monthly Rates
How Guaranteed Life Insurance Works
With only the requirement of age (depends on the carrier) and citizenship, guaranteed issue life insurance policies have a death benefit that ranges from $5000-$50000. Such plans are exclusively whole life insurance.
However, all guaranteed issue policies are "graded". Generally, the grading represents a 2 or 3 year period that the policy must be in force before a full death benefit will be paid.
Like "final expense" policies, guaranteed policies use a two or three year period in which the benefit increases to the face amount over the contractual time period. These policies commonly pay only premiums plus interest if you die if you die before the end of the "grading" period. (2-3 years depending on carrier). After the grading period ends, the carrier would pay the full face amount.
Also, like the "final expense" write up says, these provisions are a way for the carriers to provide coverage while limiting their risk.
No Exam Required on guaranteed policies
There is no exam for guaranteed life insurance. After all, it's guaranteed to be issued regardless of your health.
Contestability on Guaranteed issue policies
Although the contestability laws are the same as other policies, beyond age and citizenship, it's difficult to see where contestability may arise in a guaranteed issue case.
Your Next Step
Now that you know the information you will need to receive the most accurate quote possible, it’s time to gather the information and speak to an independent Agent (raising my hand).
We are committed to totally transparent pricing (we’ll even share our computer screen with you if you’d like), and making the application process as painless as possible.
Simply give us a call or shoot an email over and we can get you started.
Thank you for choosing the Life Insurance Help Desk to research life insurance with Addison's disease, if you have any questions, We’d like to hear them.
Your Next Step
hank you for choosing the Life Insurance Help Desk to research life insurance with Hydrocodone use. Now that you know the information you will need to receive the most accurate quote possible, it’s time to gather the information and speak to an independent Agent (raising my hand).
Simply give us a call or shoot an email over and we can get you started. We are committed to totally transparent pricing (we’ll even share our computer screen with you if you’d like), and making the application process as painless as possible.
If you have any questions, We’d like to hear them.
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