Underwriting Guidelines: Alcoholism is Not a Barrier to Life Insurance

Posted on January 4, 2010 and updated February 11, 2011 in Canadian Life Insurance Companies, Life Insurance Canada News, Manulife Financial, Term Insurance
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Occasionally we take a look at those factors that mean the difference between approval and denial when it comes to qualifying for life insurance. Today, as we come back from the no doubt champagne fueled festivities that rang in the new year, we reveal that an alcohol addicted past is not necessarily a barrier to insurance – at least, not according to the underwriting guidelines of Manulife Financial.

The following is the list of criteria they would be assessing:

  • Current age

  • Amount of alcohol declared

  • Any diagnosis of abuse or dependence

  • How long you have consumed alcohol in moderation or been abstinent.

  • Any relapses?

  • Are you a member of a self-help group, such as Alcoholics Anonymous?

  • Are you treating your addiction with medication?

  • Any co-morbid conditions? (conditions in addition to, or compounded by alcohol abuse)

  • Any medical complications related to alcoholism?

In addition, you will be subject to a medical exam, a blood test and an alcohol usage questionnaire, but there are also ways you can be fast-tracked for approval:

  • Details of the medical treatment and any psychological/psychiatric report.

  • Documentation supporting any residential treatment, including dates and length of care.

  • Documentation detailing any additional favourable aspects of your life, such as continued employment and continued attendance at group meetings.

If you are looking at potential life insurance options, don’t forget to visit our free Term Life Instant Quote Page, or call the office at 1-866-899-4849.

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Ted G
Ted G

Is it harder to get life insurance as an alcoholic in Canada than United States.

LSM Insurance
LSM Insurance

Hi Ted,

Alcoholism in Canada is on the rise – see recent article in Huntington Post link to huffingtonpost.ca. The good news is Simplified Issued policies are available – with No Medical Tests and series of Health questions that do not include Alcohol questions