Male   Female
  • How alcohol affects your life insurance
  • June 11, 2015
  • How the burden of alcohol impacts your life insuranceBy Emily Miller

    Alcohol has been part of human culture for all of recorded history, and for most of the time, people have had an understanding of its potential harm to both the person consuming the beverage in society as a whole.

    Calculating the true burden caused by alcohol on a local, national and a global scale can be challenging. But, researchers have been developing and perfecting techniques to help graph alcohol’s influence on health, social life and economics.

    The National Institute of Alcohol Abuse and Alcoholism releases a quarterly Alcohol Alert bulletin that disseminates important research findings on a single aspect of alcohol abuse and alcoholism.

    In the most recent bulletin, the Alert focused on assesses alcohol’s burden on morbidity and mortality, separate from its role in alcohol use disorders. It breaks down alcohol’s impact on a local, national and global scale.

    Research casually links alcohol abuse to more than 200 diseases and injuries, but the majority of alcohol-related deaths can be categorized into three broad groups – alcohol-attributable cancer, liver cirrhosis and injury. These three categories are used to determine the total number of alcohol-related deaths globally.

    In 2010, it was estimated by the Comparative Risk Assessment Study that alcohol-attributable cancer, liver cirrhosis and injury caused approximately 1,500,000 deaths worldwide. This number increased from 1990 to 2010, suggesting that alcohol is a significant and increasing risk factor on the global burden of mortality.

    The World Health Organization ranks alcohol consumption as the eighth leading risk factor for deaths worldwide and third leading cause of death in the United States.

    Excessive alcohol consumption can be attributed to 25 chronic diseases and conditions – such as liver disease, fetal alcohol syndrome, chronic pancreatitis, cardiovascular disease and colon cancer.

    The effects of alcohol consumption on physical and mental health come at an economic cost that includes loss of productivity, healthcare costs and costs related to property damage and alcohol-related crime.

    The last analysis, from 2006, estimates that excessive drinking in the United States costs $223.5 billion, which is about $746 person. The following information is a break down of the total economic loss:

    · 72.2 percent from lost productivity

    · 11.0 percent from health care costs

    · 9.4 percent from criminal justice costs

    · 7.5 percent from other effects

    Why does this matter when it comes to life insurance?

    Insurance companies are in the business of insuring the lives of their clients and providing monetary benefits to their beneficiaries when they die. In order for companies to determine how to rate someone for a premium, they will use a series of questions, risk factors and classifications to determine their risk towards the company.

    Alcohol consumption–beyond social drinking–is seen as incredibly risky due to the future implications that may affect the consumer later in life.

    During the underwriting process, companies will usually look at three determinants when figuring out your life insurance rate:

    · Simple questions regarding your average alcohol consumption

    · Your driving record and any history of DUI’s or DWI’s

    · Results from your medical examinations

    However, due to ever-adapting cultural norms, certain insurance companies are less strict in regards to alcohol consumption than others. This makes shopping around for life insurance policies vital as you could be saving money on premium payments.

  • Category: Articles Library, Life Insurance, Medical News

Leave a Reply

Archives

About

Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland at bob@lifequotes.com.

Originally founded in 1984 as Quotesmith Corporation, Life Quotes, Inc. owns and operates www.consumerinsuranceguide.com and www.lifequotes.com, two online consumer insurance information services that cater to the needs of self-directed personal and corporate insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  


Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.
10.1.1.86