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Suboxone is one of those medications which will immediately trigger an automatic decline on any traditional term or whole life insurance policy. The reason for this is because Suboxone is a prescription medication that is used to help treat heroin addiction and/or dependence on other opiate medications/drugs.
Suboxone is a prescription medication that consists of a combination of buprenorphine (which can be prescribed as a standalone medication to treat opiate dependence) and naloxone which can be administered alone to help treat and/or prevent opiate overdoses.
National Opioid Overdose Epidemic.
According to the American Society of Addiction medicine, drug overdose is one of the leading causes of accidental death in the US, with just over 47,000 deaths in 2014 alone!
Which is why…
You’re going to find that most (if not all) life insurance companies are going to immediately deny anyone coverage who is currently using Suboxone to treat their opiate addiction.
Accidental deaths due to drug use have become so common in the United States today that most, if not all, accidental death insurance policies will also exclude “death by drug” or “accidental overdose” as a type of “cause of death” which these types of policies will cover. Or worded another way, if you happen to die by an accidental overdose you will NOT be covered if all you own is an accidental death policy (in most cases, be sure to read your own policy to be 100% sure).
What if I’m not using Suboxone anymore?
Now if you’re no longer taking Suboxone, and you are no longer using or abusing any illegal or prescription medications, we can then begin to take a closer look at your particular case and see if you will now be eligible for a fully underwritten term or whole life insurance policy.
Questions insurance companies will ask to learn more about your addiction problems/drug use.
- When were you first prescribed Suboxone?
- How long did you take Suboxone?
- Who prescribed your Suboxone?
- What types of drugs/medications were you addicted to?
- Did you attend a rehab center?
- Were you ever hospitalized due to your drug use?
- Do you have any residual medical issues due to your drug use?
- Have you suffered from any relapses?
- Are you currently working now?
- In the past 12 month’s have you applied for or received any form of disability benefits?
- Do you have any issues with your driver’s license?
- Have you ever been convicted of a felony or misdemeanor?
Now with these answers in hand, the insurance companies will generally have a pretty good idea about what type of life insurance policies you will and won’t be eligible for.
But in general…
What you going to find is that the longer you’ve been drug free, the better your chances will be to qualify for a traditional term or whole life insurance policy.
Now it should be noted…
That not everyone is really looking to purchase a large life insurance policy. Many folks would simply like to purchase a small policy that would be able to coverage the cost of their final expenses.
The good news is that…
For these folks who aren’t looking for a larger life insurance policy and would be completely satisfied with about $25,000 dollars in coverage, assuming that they are over the age of 45, there should be plenty of options for them to choose from that won’t require them to answer any questions about their current state of health or their current or prior drug use.
Now these policies…
Will have certain “clauses” and “exceptions” that you should become aware of (please see Top 10 Best Burial Life Insurance Companies) but the important take away should be this….
“If you’re over the age of 45 and you only want about $25,000 in coverage, you should have plenty of options.”
Lastly, for those who would like to get an idea about how much their life insurance might cost before speaking with an agent, we would recommend that they check out our Final Expense Life Insurance Quotes page when you have a few moments to spare.
So what are you waiting for? Give us a call today and see what we can do for you!