For those who are currently having a difficult time getting approved for life insurance, you may want to read the following articles which focus on difficult to place insurance policies: Best Final Expense Burial Insurance and Top 10 Best No Medical Exam Companies
Whenever we get a call or a quote request from a client who is currently using Vicodin, we never want to jump to an immediate conclusion. Yes, it’s true that insurance companies are going to get a little “nervous” when they first see Vicodin on a client’s prescription history, but this does not mean that Vicodin is “automatically” going to play a role in the outcome of your life insurance application.
Vicodin is an analgesic prescription medication that contains both acetaminophen and hydrocodone, that is categorized into a group of drugs called opioid pain relievers. Vicodin will most frequently be used to treat moderate to severe pain, and is one of the most frequently abused medications in America.
For this reason…
Knowing exactly how your prescription for Vicodin is going to affect your life insurance application can sometime be challenging. Challenging because we’ll first need to determine why you’ve been prescribed Vicodin, we’ll then need to determine how long you’ll need to continue taking Vicodin and then lastly we’ll need to rule out any possibility that you may or may not be abusing your Vicodin prescription.
Common questions you’ll likely be asked regarding your Vicodin prescription.
- Why where you originally prescribed Vicodin?
- How long have you been taking Vicodin?
- Are you using any other prescription pain medications?
- How long do you anticipate taking Vicodin?
- Do you have any history of drug or alcohol abuse?
- Do you have any issues with your driving record such as a suspended license, multiple moving violations or DUI?
- Have you ever been convicted of a felony or misdemeanor?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
From here, the insurance companies will generally have a pretty good idea about what “type” of life insurance policies you may or may not be eligible for as well as what “rate” you may qualify for.
Insurance companies may also want to order medical records from your primary doctor so that they can learn more about the condition which caused your prescription as well as to learn more about how your condition being managed.
Now in general…
What you’ll usually find is that if your Vicodin prescription is being used for a brief period of time, applicants should be able to receive a Preferred or better rate (assuming they would otherwise qualify).
However, if your Vicodin has been prescribed for a longer period of time (or an indefinite period of time), what you’ll generally find is that it may become more difficult for you to find an insurance company that is willing to approve you for a traditional term or whole life insurance policy.
The Good News is that…
We here at TermLife2Go built our life insurance brokerage to specifically help those who are having a more “difficult” time finding that “perfect” life insurance policy. You see, here at TermLife2Go, we’ve chosen to remain an independent life insurance brokerage that is able to work with dozens of highly rated life insurance companies so that when we do have a client that may not fit into that picture perfect “cookie cutter” image of what an ideal life insurance applicant should be, we can still find then a great life insurance policy that they can qualify for.
Now before we let you go…
Let us be the first to admit that up until this point, we really have talked about what you might be expected to pay for your insurance. And this isn’t because we don’t want to tell you what the cost may be, its simply because until we learn more about you we simply won’t know what “rate” you may qualify for.
That being said however…
If you have a “general” idea about “rate” you may qualify for, we would certainly encourage you to take a look at our Life Insurance Quotes page where you’ll have access to quotes from dozens of different life insurance companies instantly!
So what are you waiting for? Give us a call today and see what we can do for you!