Life insurance can seem like a daunting task that many people hesitate to complete. This could be troublesome for your family if something god forbid did ever happen to you. Over several years in this industry, I have fielded questions from clients on nearly every topic imaginable. One of the questions relates to approval chances with a driving history. Can I get life insurance with a DUI? Here is what I can tell you on this topic.
So, can you get life insurance after a DUI? Yes, you can get life insurance after a DUI. Obtaining life insurance after a DUI is 100% possible. Specific criteria will need to be met to make this possible. Multiple DUI’s will require a waiting period to apply for life insurance between 36 and 60 months. 1 DUI on your driving record will result in a shorter waiting period to be approved for life insurance coverage.
I have a strong feeling that you want more details about this topic.
I know this because everyone I speak to about obtaining life insurance after a DUI always has the same questions. I completely understand, and that is what this post is designed to do.
I want to break down all the details that you need to know about obtaining life insurance with a DUI.
Additionally, I want to cover other critical related questions about obtaining life insurance with a DUI.
Some of these topics will include answers to questions such as the following.
These are all excellent questions we get from clients after they have run into issues with the law and been handed a DUI and I think we need to cover them all.
Let’s dive into the details and get you prepared to get approved for life insurance after a DUI and get you approved at great, affordable rates.
More About Life Insurance with a DUI (Driving Under the Influence) on Your Motor Vehicle Report
First and most importantly, why do the life insurance companies throw such a fit about DUI’s being on your driving record? Many clients will use phrases or raise an attitude on this topic because they feel, a DUI on my record doesn’t indicate that I’m in poor health or will die any sooner.
Here’s the issue. That is precisely what indicates.
In 2017, 10,874 individuals were killed as a direct result of alcohol or drug related vehicle crashes. While they may seem like a relatively small number compared to other potential causes of death such as cancer or heart problems, but it’s still a substantial amount of deaths when you think about it.
10,874 individuals are still a large number and indicating many individuals would still be alive today if an individual would have called an Uber as opposed to driving or operating a motor vehicle after consuming alcohol.
So, what’s my point?
Well, my point is simple. First, I understand that you may have made a mistake and you’re not one of these individuals that the statistic above is referencing. However, life insurance companies dig into more than just your health history.
The entire idea of life insurance is built around mortality tables and your potential of death at some point throughout the life of a life insurance policy.
If life insurance companies just freely insured everyone, they would run out money and not be able to remain trustworthy for death claims for very long.
With a DUI, the life insurance company wants to check certain things and even ask specific questions. These are NOT meant to upset you or be intrusive. They are strictly intended to give the life insurance company a better picture of the situation.
Questions the Life Insurance Company Will Ask You After A DUI (Driving Under the Influence)
I mentioned how the life insurance company is going to have some questions for you if you are applying for coverage after a DUI.
Well, let’s start covering some of those questions, so you have an idea of what to expect. Here’s a look at those questions you can expect the Agent or life insurance underwriting department to ask you.
The answers to these questions are critical. You see, life insurance companies are much more comfortable providing your life insurance if they feel that time has elapsed, it was an error in judgment, and they don’t feel like it’s going to happen again or happen frequently.
You also need to be sure you always are forthcoming and completely honest with your life insurance agent about these questions. Refrain from getting upset when these questions are asked and merely provide the answers as truthfully as possible.
You see, life insurance companies pull a motor vehicle report electronically based on your driver’s license information so one way or another, they will be able to see your full driving record including other moving violations, DUI’s or other issues on your background.
Waiting Periods and Requirements to Be Approved for Life Insurance After a DUI
Like I stated earlier in this post, life insurance companies like to see time elapsed since your last DUI. Many life insurance companies will want to see no more than 2 or 3 total moving violations in the past five years.
A few of these life insurance companies will consider your driving record on a case by case situation and don’t have a strict underwriting guideline set for DUI’s, speeding tickets or other moving violations.
Most of the time, 2 DUI’s on your driving record is going to have an absolute minimum 5 year waiting period with no further DUI’s before considering you for life insurance coverage (don’t worry, you still have other options to consider).
Best Life Insurance Companies to Consider After a DUI and Driving Record Requirements
Now, another big factor to keep in mind is that if you truly need life insurance for your family and to protect assets, we don’t have to aim for preferred plus rates (best rating you can achieve in life insurance).
What’s most important is getting the life insurance approved. Especially when you are applying for life insurance after a DUI. With that in mind, let’s show you some underwriting guidelines based on the life insurance company.
These are going to be what’s required to be approved for life insurance coverage after a DUI at standard rates (3rd best rating class out of 12) and sub-standard rates. This is not the requirements to meet the preferred plus standards.
However, if your driving record looks even better than these guidelines, then you should be pumped up and excited.
Likely you can be approved for life insurance coverage after a DUI and fall into those top tier classes which ultimately means you are paying the least amount possible for your life insurance coverage.
Life Insurance Guidelines for Life Insurance Coverage After a DUI, (By Company)
Protective Life Insurance Company
For standard rates or substandard rates for your life insurance with Protective Life after a DUI, they do not specify criteria. This means that for these ratings, they will evaluate your driving record and determine if you are eligible for coverage after a DUI on a case by case basis.
For preferred rates and preferred plus, you need less than two moving violations and no more than 1 DUI in the past 5 years.
Mutual of Omaha Life Insurance Company
Mutual of Omaha will not approve you for standard rates after a DUI unless 5 years have elapsed. This also includes 5 years of no driver license suspensions or revocations as well.
Banner Life Insurance Company
Banner is one of the most lenient life insurance companies to turn to after a DUI. They will allow, you to apply and you can be approved for life insurance at standard rates if you have no more than 4 moving violations in the last 3 years. They also only look back 24 months for your previous DUI.
This is a company to consider when searching for life insurance with a DUI on your driving record.
Prudential Life Insurance
We have also had great luck with Prudential approving individuals for life insurance after a DUI. This is because Prudential takes pride in not having a set rule in place to base your approval from. They evaluate all the details of the driving history. Similar to Protective Life like we mentioned previously.
This could include the actual amount you were over the speed limit when receiving a ticket and other factors such as injuries caused in accidents. Prudential Life doesn’t believe this is a one shoe fits all scenario, and you have a strong chance of being approved for life insurance after a DUI with Prudential.
5 Star Life Insurance Company, Another Fantastic Option for Life Insurance After a DUI
5 Star Life Insurance is another wildcard life insurance company when it comes to being approved for coverage after a DUI. What’s incredibly unique about 5 Star Life Insurance is that they don’t pull your driving history when evaluating your approval.
If you haven’t been declined coverage in the past 1 year, you are eligible for coverage with 5 Star Life.
Pro Advice- What we like to recommend to clients is allowing us to secure coverage with 5 Star Life Insurance first during the process. This is only to make sure that we don’t hit an issue after being declined by another carrier.
This way, we have coverage in place for you and your family and then can relax as we shop all the life insurance companies. Remember, you are eligible with 5 Star Life Insurance if you haven’t been declined coverage in the past year.
Get coverage first, get the best deal and best company 2nd. That’s always the best way to get things done with tricky situations such as DUIS.
Taking this approach is still going to be 100% better than settling for spotty funeral insurance from companies such as American Memorial or hundreds of the others offering this form of life insurance coverage.
This is often overpriced, limited coverage and has some odd payment options.
Trust me, this is what we do all day, and we have seen it all.
Accidental Death Life Insurance Coverage and Guaranteed Issue Life Insurance After a DUI
Don’t forget about options that will offer you coverage no matter what the situation is. Guaranteed Issue and Accidental Life Insurance coverage are often ignored when it shouldn’t be.
If you can’t get life insurance after a DUI, it doesn’t mean this will be the case forever. Consider powerhouse companies who offer the best no questions asked life insurance policies such as American General Life.
These policies have great perks such as 10% interest-earning during the mandatory waiting period and include features such as living benefits. This is something that needs to stop being ignored as often as it is in this industry because it sure makes for a great option to protect you and your family.
Using an Independent Life Insurance Agent Only for Life Insurance After a DUI
Don’t use captive agents or captive life insurance companies such as State Farm, Farmers Life Insurance or USAA after a DUI. This is a big mistake. These companies cannot shop your cases with multiple life insurance companies.
This hurts you dramatically. Limiting yourself to only one option can be a huge downfall and ultimately either get you declined for life insurance coverage after a DUI or paying way too much money for your coverage.
Additionally, other people often fall victim to companies such as Ethos Life Insurance. These companies invest tons of money into marketing and advertise instant approvals and low rates. The problem, however, is that they also run your DMV or Motor Vehicle Report.
Once they notice a driving issue, they won’t offer coverage, and they also won’t offer up any other solutions. This can also ultimately cost you the chance to protect your family, leave you frustrated and hinder your abilities to get life insurance coverage in the future.
I’d avoid both the options listed above at all cost if it was me. Only work with someone who can offer all life insurance companies and that works for the clients, not the life insurance companies.
This ultimately creates a scenario where the only job that needs to be completed is finding you the cheapest coverage from a life insurance company you trust. Regardless of if you have a DUI or not.
No Medical Exam and Fast Approvals for Life Insurance After a DUI
In some situations, no-exam life insurance can still be an option for you. For this to work, you need to make sure your driving record has been clean for at least 5 years. If this is the case, we recommend looking at life insurance companies such as Phoenix Life Insurance or Sagicor Life Insurance Company.
They have competitive rates and can get your life insurance approved quickly if you need coverage fast.
What Should You Do Next When Applying for Life Insurance After a DUI
If we have built your confidence that life insurance is possible after a DUI, we recommend you get started by filling out the instant quote form on the hand side of your screen (orange button on top of the screen if you are on a mobile device)
Re-read our section about the companies that handle life insurance after a DUI better than others and compare the rates on your own. When you fill out this form, you will be able to compare rates from over 50 of the top life insurance companies and get a reliable gauge for where you fall for the price.
Alternatively, you can always give Good Life Protection a call using the number on the top of the screen. We aren’t your typical agents. We are experts at underwriting high-risk life insurance and can allow you to shop with all life insurance companies. An un-matched benefit in this industry.
The Final Word, Life Insurance After a DUI is 100%, What Are You Going to Do About It?
Is life insurance after a DUI possible? Absolutely. 100%, no doubt about it. Like we stated in this post, some other conditions need to be met, but that’s our job to help walk you through the process.
At the end of the day achieving life insurance to protect your family and assets is the most important thing. Regardless of if you are hesitant due to your driving history or a past DUI.
To get started, fill out the quote form on the right and let us prove to you how cheap life insurance can be after a DUI can really be. You have nothing to lose, and it’s 100% free. So, what are you going to do about it?
FILED UNDER – HIGH RISK LIFE INSURANCE LIFESTYLE
Resources : Mr.Checkpoint
Josh Martin is the founder of Good Life Protection. He began his career as a captive Agent working for New York Life Insurance Company. After continued education and designations, Josh founded Good Life Protection to provide consumers with more options and insurance that truly fits into your budget and health classification.