Britons are drinking too much, shout the headlines. Out of those who live in Great Britain, two thirds say they drink to excess at least once a week and almost a quarter hurt themselves while they are intoxicated. This is according to a report by the Drink Aware Trust and the British Chiropractic Association.
But binge drinking is not just a health issue, but a financial one as well. It hits you not just in the pocket through the excess weekly spending on alcohol, but it can drive up the cost of your Life Insurance premiums too.
Talk to the Association of British Insurers and they will tell you that in fact yes, years and years of heavy drinking will be taken into account when calculating your premiums on your life insurance policy. On the Life Insurance application form a questions asks about your alcohol and tobacco consumption. And as with all sorts of insurance products, the underwriting is done at the point of your application.
You might think you can get away with not declaring the fact that you have been drinking excessively for a certain period of time. After all, no one is really going to know when you die right? And of course, you plan to cut down...
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