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Life Insurance and DUI

Where do you stand if you’ve been charged with driving under the influence of alcohol (DUI) and want to get life insurance? It’s interesting to note that in the eyes of life insurers, driving under the influence does not stand alone with regard to if you can get life insurance, and how much you’re going to pay for it.Life insurance underwriters look at your entire driving record – they want to know all the violations that you have on your driving record, including any license suspensions due to excessive speeding.

Understanding Life Insurance and DUI

The role of a life insurance company is to insure your life and pay a benefit to your beneficiary upon your death. Thus, it only makes sense that they want to know everything they can about you. This includes your health, hobbies and driving record.

Life insurers base ratings and policy amounts on the chances someone will die before others their age. Many young people lose their lives in motor vehicle accidents – which plays a role in risk. As well, many fatal accidents involve contributing factors such as alcohol and excessive speed.

Life Insurance – Other Factors

Insurers also look at the following with respect to driving violations:

  • Types of violation
  • Date of last violation
  • Date of last suspension from DUI
  • Length and reason for your driving suspension

Does a DUI Automatically Get You a Life Insurance Decline?

If you have a few, minor driving infractions and are in good health, you can probably get a standard rate. However, most drivers with a DUI conviction don’t fit into this category and the typical scenario is a rated policy.

However, if you have multiple DUI charges, you will be declined traditional insurance. This behavior tells insurers that you engage in high-risk activities, and thus are too risky for them to insure.

There are also limits to when you can get life insurance after you get a DUI. You can’t be considered for life insurance for a minimum of six months following the completion of your suspension. If other infractions were involved, you can’t be considered for at least 12 months.

If you apply for traditional term life insurance within this time, you will more than likely be declined. It is very important that you know when you’re eligible to apply for life insurance. You don’t want to apply too early and be red flagged. Being flagged reduces your chances of getting a good rate when you are eligible to apply. However, there are some simple and guaranteed issue you may qualify immediately.

This is why you should always speak to a life insurance professional first. Someone that know how insurers view driving records, including driving under the influence of alcohol.

We know that every situation is different and we will do everything we can to get you insured. To find out more and speak with an insurance professional, please call us at 1.888.498.5288.

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