AAS and Life Insurance

Wolfinator

Well-known member
Trusted Member
I am concerned that if something were to happen to me while on a cycle, my life insurance company would find out that I was using and void my policy. I have a wife and 2 small children, so needless to say that is something I don't want to happen. I don't want to ask my agent. Can anyone chime in and let me know if my fear is valid or not?
 
I am concerned that if something were to happen to me while on a cycle, my life insurance company would find out that I was using and void my policy. I have a wife and 2 small children, so needless to say that is something I don't want to happen. I don't want to ask my agent. Can anyone chime in and let me know if my fear is valid or not?
Just don't mention anything to your doctor and ensure a clean health record. No problems....
 
im in same boat never got life insurance yet and im searching this was a good question i wasn't sure if they did blood work for life insurance or not
 
I was 255 and on an extended cycle. They did the blood work. I got insurance
I am sure tests cost money and they for sure never tested me for aas
I'm concerned that when it comes to paying out a lump of money they would dig abit deeper for an excuse to not pay...
 
I'm concerned that when it comes to paying out a lump of money they would dig abit deeper for an excuse to not pay...
This is exactly the issue. If an autopsy shows AAS abuse that contributed to death, they would not pay out, they will do everything at their disposal to avoid a payout.

I, like Bull, had bloodwork done for acceptance of my policy while I was on cycle but they weren't checking for testosterone levels, they're looking at your overall health. They're checking your heart, lipids, kidney function, stuff like that. They will ask about steroid use but then you would obviously deny usage. I passed and was accepted for the policy.
 
I wrote this on another forum and it is relevant to this question - bit of a long read but factual and no conjecture. Some of it is relevant to your question and some isn't but I just copied and pasted so apply the sections that you are concerned about.
Not sure where to begin here but there is a lot of misinformation in this thread. It is difficult to cover this in a short paragraph.

If you want to pay a premium and have it guaranteed forever, your options are universal life or whole life. Universal life is just term insurance with a built in 'investment' component. When I was young and wanted to have a specific amount for my entire life I purchased a small universal life insurance policy which has provided approximately 7% return on the non insurance premium. I take that money out and spend it vs. leaving it with the insurer. There is a possibility investment returns could be awful and premiums could change but I do not know anyone who has experienced that unfortunate situation. Whole life rates are guaranteed forever.

Each year you will get a statement telling you what your cash value is on a UL policy. That being said, I would not buy a universal policy as an investment unless I was a multi millionaire and needed to find a way around paying more tax. I know some wealthy individuals who buy whole life/universal life and put their money in that product vs. paying tax and are better off but the average person does not have that luxury.

I also have a larger term policy so my family's lifestyle will not change if something happens to me - whatever the cause. We have no debt of any kind and have net worth but I still want my family to have a great life/no change in their quality of life after I am gone as my income will disappear and I am the main breadwinner.

All life insurance has a clause, usually for two years, excluding suicide but all other causes of death are covered. If you answer the application honestly and qualify, the insurance company has no choice but to pay regardless of the cause of death.
Answer the questions honestly and don't offer additional information unless it forms part of the application.

For example you could be a non smoker (better premium) and they test this with a mouth swab and then you start smoking two years later and die from a heart attack from smoking are you covered - yes. You could overdose from drugs and you would still be covered. Once the two years is up or whatever the stipulated waiting period is, if you took your own life you are still covered. Point being if you qualify honestly for a policy, the cause if death is irrelevant.
The only exception is if you buy accidental death coverage which is very cheap because most people die from natural causes but banks or loans will not accept this as collateral.

Term insurance is great for a specific term (obtain more coverage because it is cheaper) but your rates will increase significantly every 10 years (if you purchased 10 year term) or 25 years if you paid higher premiums and have guaranteed premiums for 25 years. There is a product available now called term to 65 which some people purchase and then convert a small portion of it to whole life to cover funeral expenses at 65.

The larger limit of coverage you want the more qualifying factors will be involved. A nurse may visit you and take your BP, blood, and ask questions. You have the right to ask what they test for too.

Insurance companies have actuaries who calculate these factors knowing some people will commit suicide, become drug addicts, start smoking, engage in risky behaviour but this does not negate your coverage. If you lied on the application and were a drug addict at the time and the insurance company could prove it when you passed away, the policy may be considered void (as if it never existed) and your estate would be returned all the premium you paid.
Now actuaries are becoming less common as super computers factor all these variables to determine the premium.

Of course these companies are in the business to make money just like all businesses other than not for profit but they still have to pay death claims. Life insurance is a lucrative business because companies know they are guaranteed to pay because everyone dies (unlike auto, commercial, farm, residential insurance) so they can easily factor how to ensure a reasonable profit.

There is no grey area in insurance as that is BS, it is black and white. There are clear wordings that you, your lawyer, or a trusted person can read that stipulates what is covered and what isn't. Life insurance wordings are not complicated - they cover death.

I do not know if they ask specifically about PED's because I haven't looked at an application in a while but I can this week for you if you wish and let you know. If they didn't ask and you qualified and died due to PED use, the policy would have to pay. As mentioned not stating something is not fraud unless you are asked and you lied.

I have been in risk management for 25 plus years and insurance is part of the service albeit I don't sell life insurance but am required to understand the nuances of all insurance policies.
 
This is exactly the issue. If an autopsy shows AAS abuse that contributed to death, they would not pay out, they will do everything at their disposal to avoid a payout.

I, like Bull, had bloodwork done for acceptance of my policy while I was on cycle but they weren't checking for testosterone levels, they're looking at your overall health. They're checking your heart, lipids, kidney function, stuff like that. They will ask about steroid use but then you would obviously deny usage. I passed and was accepted for the policy.
I wrote this on another forum and it is relevant to this question - bit of a long read but factual and no conjecture. Some of it is relevant to your question and some isn't but I just copied and pasted so apply the sections that you are concerned about.
Not sure where to begin here but there is a lot of misinformation in this thread. It is difficult to cover this in a short paragraph.

If you want to pay a premium and have it guaranteed forever, your options are universal life or whole life. Universal life is just term insurance with a built in 'investment' component. When I was young and wanted to have a specific amount for my entire life I purchased a small universal life insurance policy which has provided approximately 7% return on the non insurance premium. I take that money out and spend it vs. leaving it with the insurer. There is a possibility investment returns could be awful and premiums could change but I do not know anyone who has experienced that unfortunate situation. Whole life rates are guaranteed forever.

Each year you will get a statement telling you what your cash value is on a UL policy. That being said, I would not buy a universal policy as an investment unless I was a multi millionaire and needed to find a way around paying more tax. I know some wealthy individuals who buy whole life/universal life and put their money in that product vs. paying tax and are better off but the average person does not have that luxury.

I also have a larger term policy so my family's lifestyle will not change if something happens to me - whatever the cause. We have no debt of any kind and have net worth but I still want my family to have a great life/no change in their quality of life after I am gone as my income will disappear and I am the main breadwinner.

All life insurance has a clause, usually for two years, excluding suicide but all other causes of death are covered. If you answer the application honestly and qualify, the insurance company has no choice but to pay regardless of the cause of death.
Answer the questions honestly and don't offer additional information unless it forms part of the application.

For example you could be a non smoker (better premium) and they test this with a mouth swab and then you start smoking two years later and die from a heart attack from smoking are you covered - yes. You could overdose from drugs and you would still be covered. Once the two years is up or whatever the stipulated waiting period is, if you took your own life you are still covered. Point being if you qualify honestly for a policy, the cause if death is irrelevant.
The only exception is if you buy accidental death coverage which is very cheap because most people die from natural causes but banks or loans will not accept this as collateral.

Term insurance is great for a specific term (obtain more coverage because it is cheaper) but your rates will increase significantly every 10 years (if you purchased 10 year term) or 25 years if you paid higher premiums and have guaranteed premiums for 25 years. There is a product available now called term to 65 which some people purchase and then convert a small portion of it to whole life to cover funeral expenses at 65.

The larger limit of coverage you want the more qualifying factors will be involved. A nurse may visit you and take your BP, blood, and ask questions. You have the right to ask what they test for too.

Insurance companies have actuaries who calculate these factors knowing some people will commit suicide, become drug addicts, start smoking, engage in risky behaviour but this does not negate your coverage. If you lied on the application and were a drug addict at the time and the insurance company could prove it when you passed away, the policy may be considered void (as if it never existed) and your estate would be returned all the premium you paid.
Now actuaries are becoming less common as super computers factor all these variables to determine the premium.

Of course these companies are in the business to make money just like all businesses other than not for profit but they still have to pay death claims. Life insurance is a lucrative business because companies know they are guaranteed to pay because everyone dies (unlike auto, commercial, farm, residential insurance) so they can easily factor how to ensure a reasonable profit.

There is no grey area in insurance as that is BS, it is black and white. There are clear wordings that you, your lawyer, or a trusted person can read that stipulates what is covered and what isn't. Life insurance wordings are not complicated - they cover death.

I do not know if they ask specifically about PED's because I haven't looked at an application in a while but I can this week for you if you wish and let you know. If they didn't ask and you qualified and died due to PED use, the policy would have to pay. As mentioned not stating something is not fraud unless you are asked and you lied.

I have been in risk management for 25 plus years and insurance is part of the service albeit I don't sell life insurance but am required to understand the nuances of all insurance policies.


Thanks for the very detailed reply. Here is the actual question they asked me...
 

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I wrote this on another forum and it is relevant to this question - bit of a long read but factual and no conjecture. Some of it is relevant to your question and some isn't but I just copied and pasted so apply the sections that you are concerned about.
Not sure where to begin here but there is a lot of misinformation in this thread. It is difficult to cover this in a short paragraph.

If you want to pay a premium and have it guaranteed forever, your options are universal life or whole life. Universal life is just term insurance with a built in 'investment' component. When I was young and wanted to have a specific amount for my entire life I purchased a small universal life insurance policy which has provided approximately 7% return on the non insurance premium. I take that money out and spend it vs. leaving it with the insurer. There is a possibility investment returns could be awful and premiums could change but I do not know anyone who has experienced that unfortunate situation. Whole life rates are guaranteed forever.

Each year you will get a statement telling you what your cash value is on a UL policy. That being said, I would not buy a universal policy as an investment unless I was a multi millionaire and needed to find a way around paying more tax. I know some wealthy individuals who buy whole life/universal life and put their money in that product vs. paying tax and are better off but the average person does not have that luxury.

I also have a larger term policy so my family's lifestyle will not change if something happens to me - whatever the cause. We have no debt of any kind and have net worth but I still want my family to have a great life/no change in their quality of life after I am gone as my income will disappear and I am the main breadwinner.

All life insurance has a clause, usually for two years, excluding suicide but all other causes of death are covered. If you answer the application honestly and qualify, the insurance company has no choice but to pay regardless of the cause of death.
Answer the questions honestly and don't offer additional information unless it forms part of the application.

For example you could be a non smoker (better premium) and they test this with a mouth swab and then you start smoking two years later and die from a heart attack from smoking are you covered - yes. You could overdose from drugs and you would still be covered. Once the two years is up or whatever the stipulated waiting period is, if you took your own life you are still covered. Point being if you qualify honestly for a policy, the cause if death is irrelevant.
The only exception is if you buy accidental death coverage which is very cheap because most people die from natural causes but banks or loans will not accept this as collateral.

Term insurance is great for a specific term (obtain more coverage because it is cheaper) but your rates will increase significantly every 10 years (if you purchased 10 year term) or 25 years if you paid higher premiums and have guaranteed premiums for 25 years. There is a product available now called term to 65 which some people purchase and then convert a small portion of it to whole life to cover funeral expenses at 65.

The larger limit of coverage you want the more qualifying factors will be involved. A nurse may visit you and take your BP, blood, and ask questions. You have the right to ask what they test for too.

Insurance companies have actuaries who calculate these factors knowing some people will commit suicide, become drug addicts, start smoking, engage in risky behaviour but this does not negate your coverage. If you lied on the application and were a drug addict at the time and the insurance company could prove it when you passed away, the policy may be considered void (as if it never existed) and your estate would be returned all the premium you paid.
Now actuaries are becoming less common as super computers factor all these variables to determine the premium.

Of course these companies are in the business to make money just like all businesses other than not for profit but they still have to pay death claims. Life insurance is a lucrative business because companies know they are guaranteed to pay because everyone dies (unlike auto, commercial, farm, residential insurance) so they can easily factor how to ensure a reasonable profit.

There is no grey area in insurance as that is BS, it is black and white. There are clear wordings that you, your lawyer, or a trusted person can read that stipulates what is covered and what isn't. Life insurance wordings are not complicated - they cover death.

I do not know if they ask specifically about PED's because I haven't looked at an application in a while but I can this week for you if you wish and let you know. If they didn't ask and you qualified and died due to PED use, the policy would have to pay. As mentioned not stating something is not fraud unless you are asked and you lied.

I have been in risk management for 25 plus years and insurance is part of the service albeit I don't sell life insurance but am required to understand the nuances of all insurance policies.

(so tempted to read this, but when I scroll down it takes soooo long)


šŸ˜
 
(so tempted to read this, but when I scroll down it takes soooo long)


šŸ˜
LOL, it is a page and is you want to know about AAS and life insurance read it but if you don't - don't, these are all facts and not stories or conjecture. I know for certain as I read all insurance wordings in my business and must understand them and work with sales people I trust. One lady, who has morals, helps me protect my clients.
 
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