Does a drug overdose break a life insurance policy?
%REPLIES% Answer Read the policy. An accidental overdose of prescription drugs is probably covered. If it was an intentional overdose, most policies have an exclusionary period, typically 3 years I believe, during which death by suicide is not covered.
There are also exclusions for "participation in illegal activities", so if it was an overdose (accidental or intentional) of "recreational" drugs, maybe not Answer The previous statement is accurate except that the exclusion period (contestable period) is usually 2 years except in Colorado where it is 1.
Most group life insurance policies indicate an accidental death clause. This means that the policy will be canceled in the event of an accident, in this case, an overdose. It has the same logic as the suicide clause, where payouts can be affected.
Accidental death clauses are not common in individual life insurance plans. If your insurance is provided by an organization or your employer, thereâ? S a good chance that this clause is included.
A term that policy holders need to be familiar with is â? Material misrepresentationâ?. Insurance carriers will do a thorough job of reviewing the policy and even the application documents of the plan holder.
If there was information that was missed out or incorrectly stated, for example, history of drug abuse, companies can use this in order to deny a claim.
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