From Pharmaceutical Databases If you’re taking medication for high blood pressure, diabetes, depression or anything else, life insurance companies will find out. They use third-party companies such as Milliman Intelliscript to check your prescription drug history.

Can life insurance Be Denied for drug use?

Life insurance companies can deny coverage if they can prove that the drug overdose was deliberate (suicide) or the insured used illegal drugs or abused prescription medications.

What would cause a life insurance policy to be denied?

Their reasons could be anything from a serious medical condition (like heart disease) or poor results from your life insurance medical exam to nonmedical reasons like bankruptcy, a criminal record, a positive drug test or even a dangerous hobby.

Do life insurance policies always pay out?

Life insurance is cover that pays out a lump sum if you, the policyholder, pass away during the policy term – or if you’re diagnosed with a terminal illness and not expected to live longer than 12 months. The policy only pays out once and ends after that.

Why are some medications bad for life insurance?

After practicing medicine for 20 years, I’ve become adept at “clarifying” to life insurance companies why patients are taking certain medications. The same medications appear to trigger red flags for both long-term care and life insurance companies.

Can a life insurance company see your medical records?

Life insurance companies may only access your medical records if you provide written consent. If you grant permission, they can see a variety of information, including: Doctor visits – the reason and the diagnosis

Why do life insurance companies require a medical exam?

Why Life Insurance Companies Require a Medical Exam There are three reasons life insurance companies administer medical exams: To verify the information originally submitted to the company in your life insurance application

What kind of medications can you take while applying for insurance?

Insurance companies don’t like alcohol overuse or abuse to be part of your history and this medication is used to help with alcohol cravings and will trigger a red flag. Harvoni, Sovaldi, and Viekira Pak. Medications used for the treatment of Hepatitis C will cause insurance companies to balk at your application.