When considering the many options that come with life insurance, a common question comes up a lot: does life insurance cover overdoses? The answer is not as straightforward as a yes or a no, it depends on multiple factors. They include the specifics of the policy and the circumstances surrounding the overdose.
Almost all life insurance policies do cover accidental deaths, which can include accidental overdose. Where the situation gets more intricate, is whether or not the overdose is ruled intentional. If it is ruled to be intentional, such as in cases of suicide, coverage can be denied by your insurer. Policies almost always have a suicide exclusions period, usually the first two years, if it were to happen during this time it would almost be a guarantee that the claim would be denied.
Insurance Agencies will do whatever they can to not pay out claims. If the policyholder has a history of substance abuse, the insurer will use this as a reason to deny the claim. Sometimes in extreme examples they will exclude coverage all together for overdoses or even deny the application from the start.
When applying for a new life insurance policy it is important to read the fine print and understand what is included and excluded. That is why working with a broker, like AZ Insurance Team, can be incredibly helpful. Brokers are able to get quotes from multiple different providers and find the right policy for their customers.
It is important that you and your loved ones are insured and protected from unforeseen circumstances. By contacting AZ Insurance Team you will be making the best decision for future you.
Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…
Disclaimer: Coverage will vary on state, insurance company, and type of policy.
<a href="https://www.freepik.com/free-vector/prescription-drug-abuse-abstract-concept-vector-illustration-prescription-medication-health-danger-pills-experiment-feigns-pain-pharmacy-control-drug-addiction-overdose-abstract-metaphor_24070956.htm#fromView=search&page=1&position=1&uuid=f2c2a66c-85c5-4a8b-b6a2-fd1998a9e660">Image by vectorjuice on Freepik</a>
Comments