2007-02-26 23:42:59 · 7 answers · asked by Anonymous in Business & Finance ➔ Insurance
Yes they do. There are some companies with policies that don't require any testing at all, but the policies are lesser amounts. In normal policies they test for drugs, nicotine, HIV, plus other health factors like blood pressure, weight, height, etc. And if a test comes back positive for drugs, they will more than likely deny the application, and that denial is in a database so you won't be able to get any other company's policy for about 10 years usually
2007-02-27 03:35:14 · answer #1 · answered by daniellet_212 2 · 0⤊ 0⤋
It depends on the amount. Some companies rely only on your answers to questions for small face amount policies. The larger the policy, the more requirements are needed to get the policy issued. Think about it. The company is on the risk. Small amounts don't matter much, but the larger the amount, the more risk the company has and therefore the need to know it is doing its best to minimize the risk. However, as stated above, if you lie on the application and die in less than 2 years, the policy can be voided.
2007-02-27 00:27:34 · answer #2 · answered by deep5223 4 · 1⤊ 0⤋
That will depend on the guidelines of that particular company. Your age and the amount of insurance are also considered. mbrcatz is wrong about coming back 3 years later. After a policy has been in effect for 2 years, it cannot be contested for any reason. That is why death by suicide is covered after the policy has been in effect for 2 years.
2007-02-27 00:36:01 · answer #3 · answered by nurse ratchet 6 · 1⤊ 0⤋
Yes, they do. However, once the policy is issued, the cause of death will have no factor on payment of the death benefit. The exception is suicide or fraud within the first two policy years. Fraud is almost impossible to prove, as the company would have to prove that the deceased was an active drug user or had a specific intent to use at the time of signing the application. After the first two years, the company is bound to pay no matter what.
2007-02-27 00:27:49 · answer #4 · answered by Rob D 5 · 1⤊ 2⤋
It depends on the company policies and the size of the policy. The more insurance you are buying the more they will check you out. If you lie and test positive, you'll never be able to buy life insurance.
2007-02-27 03:17:44 · answer #5 · answered by bugs280 5 · 0⤊ 1⤋
They usually screen for drugs during the application process. If they don't, they can always do a hair test if you die within the first three or so years - if it comes back positive, and you lied on the application, it voids the policy.
2007-02-26 23:59:49 · answer #6 · answered by Anonymous 7 · 0⤊ 2⤋
They can require a physical and that physical usually includes blood and urine tests, in which case, if you're using drugs, they'd likely find it.
2007-02-26 23:51:10 · answer #7 · answered by Faye H 6 · 1⤊ 0⤋