Watch Yourself; your Life Insurer is Counting your Drinks
Life insurance coverage may soar way up or be completely unobtainable for people whose health or driving records show alcohol abuse. Here's how it works.
What’s the drink limit when it comes to buying life insurance? Heavy alcohol use impacts your life expectancy, so insurers want to know distinguish between the person who has a glass of wine with dinner and the person who drinks the whole bottle.
According to the Centers for Disease Control and Prevention (CDC), excessive alcohol use over the long term can lead to a variety of chronic conditions and neurological problems such as cardiovascular problems, dementia, stroke, depression, liver disease and gastrointestinal problems.
Insurers will ask you about your alcohol use on your life insurance application. Anything more than social drinking will affect your life insurance rate. Drinking more than two drinks a day will generally knock you out of "preferred" rates, and drinking more than three or four drinks will knock you out of "standard" rates, according to life insurance brokers who find life insurance for buyers with medical problems and other high-risk factors.
If you drink over the limit you’re looking at "rated" policies, meaning an additional premium is added because of a risk factor.