Cocaine Use and Life Insurance

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Cocaine and crack are the second most prevalent illicit drug, behind cannabis, used by Canadians 15 and older, according to the RCMP’s Canadian Addiction Survey
Unfortunately, applicants who have a history of past drug use, including hard drugs such as cocaine, may have a difficult time obtaining life insurance.These choices include the following:

  1. Traditional life insurance policies, which ask a full series of health questions and usually have some type of medical test.
  2. No medical life insurance policies, which can be broken down into guaranteed issue life insurance (where there are no medical tests and no health questions) and simplified issue policies (where there are no medical tests and a short series of health questions).

Traditional life insurance policies, which ask a full series of health questions and usually have some type of medical test.

Many simplified issue policies can provide coverage from day one and some simplified issue providers, such as Assumption Life and Canada Protection Plan, do not have question to do with past drug use.

Traditional life-insurance providers will have a question related to him the past drug use including cocaine and most traditional providers will not provide life insurance if the insured has used cocaine use within the past three years.

For applicants with no cocaine use in the past three years, but use in the last six years, a policy will likely still be available on a rated basis. This means the insured will be able to obtain coverage, but will also pay an extra premium, due to the extra risk.

On the other hand, applicants who have not used cocaine in the last six years, and do not have any other related health and lifestyle issues, will likely qualify for standard rates.

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