If you have a DUI on your record and have applied for life insurance, you know how hard it is to obtain affordable life insurance coverage. You've likely been declined or given a very high premium.
Many consumers who come to us for life insurance with a DUI on their record are frustrated with the process, but it doesn't have to be this way if you use the right life insurance company.
Here's the deal. Life insurance carriers use re-insurers who dictate their underwriting guidelines for DUI's. With that said, every life insurer abides by these required underwriting guidelines for DUI's, except for 1 carrier - Prudential.
Prudential is hands down the most competitive for anyone with a DUI history.
What to expect when applying for life insurance with a DUI
Before we get into showing you what to expect when applying for life insurance with a DUI, you must know 2 life insurance terms that are foreign to most people applying for life insurance:
Flat Extra: This charges an extra dollar amount per $1,000. For example a $3 flat extra will be an extra $300 added to a $100,000 policy. The important thing to know here is that flat extras for DUI's are PERMANENT. You'll have to re-apply to get those removed in the future.
Postpone: A Postpone means the life insurance company can't consider your risk until you've surpassed their specified time limit. For example - a postpone for 12 months from the date of DUI means you have to wait to apply until that time has passed.
Here's what you can expect:
(quick note: contact us and we'll provide you with the lowest life insurance rates based on your DUI details )
- Within last 12 months
- Age 25 and under will postpone for at least 1 year, then add a flat extra of $5-$7.50 per thousand (depending on age, date of DUI & details)
- Age 25+ $3.50-$7.50 flat extra.
- Prudential will give a Table B rating which is much less expensive than working with flat extras.
- Over 12 months ago
- Most carriers will have a flat extra of $2.50 to $5
- Prudential will give Standard Plus rating which again is the cheapest you can find on the market.
- Over 3 years ago most carriers will give you a Standard health class.
- Most carriers will postpone 2-3 years from the date of the last DUI if over age 25. After 3 years from the date of the last DUI, a flat extra of $2+ will be added (depending on carrier, age and complete details)
- Prudential will be Table 5 (if last DUI within past 5 years)
Prudential will be Table 2 (if last DUI more than 5 years ago, but less than 10)
Prudential will offer no additional rating if last DUI is more than 10 years ago.
More than 2 DUI's is a decline everywhere. In this case, we can help you secure a graded death benefit policy.
As you can see, Prudential is the best option in every DUI case.
On top of the information above, if you have 2 or more of the following factors, underwriters will consider increasing your premiums even more than what was stated above.
-Alcohol misuse or drug abuse
-Individuals under age 30 or over age 70
-Currently participating in avocations (race car driving, sky diving, scuba diving, etc)
-Yearly driving violations or habitual offenders
-Additional non-moving violations
-Past criminal history
-Rated medical impairments
Lastly, keep in mind this information when applying for life insurance with a DUI
- The life insurance company will pull your MVR report. Make sure you're completely upfront with us regarding everything on your record. Including speeding tickets.
- When you take the medical exam to qualify for life insurance, they will take a careful look at your liver enzymes and possibly your alcohol markers. Any elevation will either increase your rates or decline your application.
- You'll likely be required to complete a questionnaire about your driving history. Usually your agent will go over this with you over the phone.
We know this is A LOT of information. Our suggestion is to let us do the work and we'll provide you with the best life insurance rates based on YOUR unique DUI details.
Bottom line. It takes an experienced life insurance agent to navigate the DUI underwriting guidelines to find you the most affordable rate on the market. All of our agents are familiar with these and we would appreciate the opportunity to earn your business. Along with working with many different top carriers, we also offer company reviews on each one for your reference, such as AIG Direct. We can even help you with more specific needs such as looking for a million dollar life insurance policy or a no medical exam life insurance policy!