Life Insurance after a Narcan prescription.

In this article, we wanted to take a moment and try and answer some of the most common questions we get from folks applying for life insurance after they have been prescribed Naloxone or one of the common brand names it is sold under, including Evzio or Narcan to treat an emergency overdose caused by a narcotic.

Questions that will be directly addressed will include:

• Can I qualify for life insurance after I’ve been prescribed Narcan?
• Why do life insurance companies care if I’ve been prescribed Narcan?
• What kind of information will the insurance companies ask me or be interested in?
• What rate (or price) can I qualify for?
• How can I help ensure I get the “best life insurance” for me?

So, without further ado, let’s dive right in!

Can I qualify for life insurance after I’ve been prescribed Narcan?

In theory, an individual can qualify for a traditional term or whole life insurance policy if prescribed Narcan. But with that said, we should point out that typically, having been prescribed Narcan within the past three years can and often will cause a life insurance company to Postpone or Deny your life insurance application immediately.

Why do life insurance companies care if I’ve been prescribed Narcan?

Life insurance companies “care” if an individual has been prescribed or administered Narcan because there is only one reason why someone would receive a Narcan dose, which is to prevent an overdose resulting from some form of narcotic or pain medication.

Now…

In “most” cases, these Naloxone doses will be administered to individuals who are suffering from drug addiction, which most life insurance companies consider as a “pre-existing medical condition” to which they do not want to provide life insurance coverage.

Fortunately…

Because life insurance companies treat drug and alcohol addiction as a “medical issue” and not a “law enforcement” issue, once it has been determined or “deemed” that an individual no longer suffers from a drug addiction or alcohol dependency, they, too can potentially qualify for a traditional term or whole life insurance policy and not be “permanently” disqualified for coverage.

That said…

We should also point out that there may also be some who have recently been prescribed a powerful pain medication due to some recent injury or medical procedure they underwent, which may have led to an ACCIDENTAL overdose where no previous drug or alcohol abuse is present. In cases like these, the fatal overdose that Narcan prevented would be looked upon as an extremely close call, and one that might not have significant ramifications on the outcome of your life insurance application, provided that it is clear that this event is improbable ever to happen again.

This is why…

It’s essential to ensure that your life insurance agent is aware that you may have been prescribed Narcan in the past so that they can ask the appropriate questions and ensure that the underwriter with whatever company you decide to apply with is well aware of your situation.

What kind of information will the insurance companies ask me or be interested in?

If you have been prescribed Narcan, the insurance company may ask you about your medical history, including any past or current substance abuse issues and any other medical conditions you have. The company may also ask about your family medical history and any other medications you are taking.

Specific questions may include:

• When were you first prescribed Narcan?
• How and why were you prescribed Narcan?
• How many times have you been prescribed Narcan?
• What pain medication or narcotic led to you being given Narcan?
• Do you suffer from a history of drug or alcohol abuse?
• Have you been prescribed any other prescription medications?
• Have you ever been convicted of a felony or misdemeanor?
• Do you have any issues with your driving record, such as multiple moving violations, a DUI, or a suspended license?
• Are you currently working now?
• In the past 12 months, have you been convicted of a felony or misdemeanor?

What rate (or price) can I qualify for?

When it comes time to determine what kind of “rate” an individual might qualify for, there are hundreds of factors that can come into play. This is why it’s pretty much impossible to know for sure what kind of rate an individual might be able to qualify for without at least speaking with them for a few minutes.

That said, however…

We can make a few “assumptions” based only on the fact that an individual has been prescribed Narcan in the past.

Assumptions such as:

Suppose you have been given Narcan in the past, and it is clear that, at one point, you did suffer from a drug or alcohol problem. In that case, most (if not all) life insurance companies are going to want to see that you have sought out treatment and that you have been clean and sober for a minimum of 3 years before being considered eligible for coverage (coverage at a Table Rate or “high risk” rate).

Conversely…

Suppose you have been given Narcan in the past, and it is clear that you DO NOT SUFFER from a drug or alcohol problem and that your “accidental” overdose was indeed an accident. In that case, there is a definite chance that you may be eligible for a traditional life insurance policy.

Additionally…

It’s quite possible that your Narcan prescription in cases like these may not even affect the outcome of your life insurance application. This means that whatever rate you might have been able to qualify for PRIOR to being given Narcan should “theoretically” be the same rate you would be able to qualify for AFTER having been given Narcan.

This brings us to the last topic that we wanted to take a moment to discuss with you today:

How can I help ensure I get the “best life insurance” for me?

In our experience here at IBUSA, what works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true-life insurance professional who will work as an advocate for them.

Such an agent…

It will help guide you through the application process and be perfectly “frank” with you about what options may or may not be possible.

From there…

You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because, after all, it doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now, does it?

Lastly…

Before applying for coverage, it would be best to be completely honest with your life insurance agent. By doing so, you will help them narrow down what options might be the “best.”

So, what are you waiting for? Give us a call today and see what we can do for you!