Kevin Spade2024-06-20T05:05:12+00:00How DUI Affects Life Insurance Premiums
Higher Risk Perception
Insurance companies view DUI convictions as a red flag, indicating higher risk. A person with a DUI is perceived as more likely to engage in risky behavior, which increases the likelihood of future incidents. Consequently, life insurance providers adjust premiums to account for this increased risk. Typically, this results in higher premiums for individuals with a DUI on their record.
Policy Approval Challenges
In addition to higher premiums, securing approval for a life insurance policy can be more challenging with a DUI. Some insurance companies may outright deny coverage to applicants with recent DUI convictions. Those who are approved might face stringent policy terms and conditions, such as higher premiums, shorter policy terms, or additional health examinations.
Insurance companies see DUI convictions as a serious risk factor. They believe individuals with DUIs are more likely to file claims. This perception leads to increased premiums for...
