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?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’ dive right in!
Can I qualify for life insurance after I’ve been prescribed Narcan?
Yes, in “theory” an individual can qualify for a traditional term or whole life insurance policy if they have been prescribed Narcan in the past. But with that said, we should point out that typically having been prescribed Narcan within the past 3 years can and often will cause a life insurance company to immediately 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 really 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.
In “most” cases, these Naloxone doses will be administered to individuals who are suffering from drug addiction which is considered by most life insurance companies as “pre-existing medical condition” which they do not want to provide life insurance coverage to.
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.
We should also point out that there may also be some that have recently been prescribed a powerful pain mediation due to some recent injury or medical procedure which 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 which was prevented by Narcan would be looked upon as a extremely close call and one that might not have significant ramifications upon the outcome of your life insurance application provided that it is clear that this event is highly unlikely to ever happen again.
This is why…
It’s important to make sure 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 make sure 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?
Common questions you’ll likely be asked 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 or 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? Issues 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 be able to qualify for, there are literally 100’s of factors that can come into play. This is why, it’s pretty much impossible to know of 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…
There are a few “assumptions” that we can make based only on the fact that an individual has been prescribed Narcan in the past.
Assumptions such as:
If 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, 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 prior to being considered eligible for coverage (coverage at a Table Rate or “high risk” rate).
If 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 truly an accident then there is a definite chance that you may be eligible for a traditional life insurance policy.
It’s quite possible that your Narcan prescription in cases like these may not even have an effect on the outcome of your life insurance application what so ever. Which means that whatever rate you might have been able to qualify for PRIOR to being given Narcan should “theoretically” be the same rate that you would be able to qualify for AFTER having been given Narcan.
Which brings us to the last topic that we wanted to take a moment and discuss with you today which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that 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 profession who will work as an advocate for you.
Such an agent…
Will not only help guide you through the application process but also be perfectly “frank” with you about what options may or may not be possible for you.
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 really 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?
You’ll want to make sure that you’re completely honest with your life insurance agent prior to applying for coverage. By doing so, you will be helping him or her 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!