Life Insurance Drug Test - Is it Required?

Life Insurance Drug Test - Is it Required?

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Drug Testing is widely used nowadays; because of the wide spread abuse with illegal drugs. These drugs are known for their negative effects on people using them that might affect other people like love ones, friends, coworkers etc. There are some companies that mandated their people to undergo drug test.

What is drug test in life insurance? Is it required?

Life insurance companies also require their applicants to undergo a series of medical tests, which includes drug test. This will help the agency to properly evaluate the overall health of their clients. This will also help in determining the rate policies applicable for them. Some agencies accept clients even if they are using marijuana, because some countries are legalising it already for its medical used. Those who are positive with marijuana should get prescription their doctor and present it to the agency to approve their application. Insurance Agencies know what illegal drugs are and that they can cause serious health problem and have higher claims than others.

This make them require the applicants to pay more. A healthy applicant diagnosed with marijuana substance will pay double or triple amount than those who are unhealthy. But as soon as there are illegal substances found such as cocaine, barbiturates, opiates and others, there is a big possibility that they will deny your application. It is advisable to stop the use of illegal drugs if you plan to avail of life insurance and you want it to be approved at a lower rate. It is also a smart advice to totally stop the use of illegal drugs.

Better alternatives

Drug Testing can be done thru series of tests on saliva, blood, urine and even hair follicles. The tests will analyse the samples for the presence of illegal substance like cocaine, barbiturates, marijuana, opiates and others in the body. Insurance agencies often use saliva test for fast results.

Benefits

Drug Testing is an advantage to Insurance Agency and to the customers as well. Properly evaluated tests will enable the company to give you appropriate policy that you will use for your future needs. The tests will somehow give awareness to you and your family of your current condition, so they can help you avoid addiction completely.

Disadvantages

There are people reluctant in buying insurance, because they are afraid to undergo drug test. They are afraid of what ifs- what if they find out that they are positive of illegal drugs? What if they put me to jail or to rehabilitation? These what-ifs are nothing, because they respect the confidentiality of their clients.

Providing financial security is the main goal of life insurance and this is not just for you, but for the entire family too. Before buying a policy, it’s best to consider your financial standing first and the way of life that you would like your dependents to have even if you are gone.

What is Life insurance drug test? Is it required?

A drug test is not just for job applicants, but it is now becoming prevalent for those applying for a life insurance policy. You will be surprised to learn that you will be subjected to a urine tests for certain legal and illegal substances, especially if you are applying for a big face value. You will be asked to submit a urine test during the course of the preapproval medical exam, this is quite comprehensive and you will be tested for illegal drugs like cocaine, marijuana, amphetamines and others.

If during the screening the company finds out that there is an evidence of substances in your blood, you will be asked to go through further tests. A medical exam that includes a drug test is required by insurance companies to know the coverage of the insurance policy that best fits you. It is also required to know the pay-out risks they will go through when they accepted you. The company should know what to charge you for the premiums and they also need to set certain upper limits just to know how much you will be allowed to be insured for according on the data you have also.

Is there any alternative for a life insurance drug test?

At present, there blood works and urines are the most common elements being used by insurance companies during routine physical exams. The urine will let them know if you are using drugs or alcohol, while blood tests can give more information to them. These tests are legal and they are not considered as invading ones privacy.

The benefits

If the tests showed that you are not using any type of illegal drugs, you will not be required by the insurance company to pay for higher premiums, especially if you are really in good shape. The result of the underwriting will let you know how much premium will pay for with the insurance company.

The drawback

If the test is positive, your application will be denied or you will be asked to pay for higher premiums, because the insurance company will assume that you are using illegal drugs and you are at risk with serious health ailments in the future.

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