An Unknown Consequence to a 4th of July DUI: The Inability to Get Life Insurance
SAN FRANCISCO, June 28, 2021 /PRNewswire/ -- Fourth of July is historically one of the worst holidays for driving and alcohol-impaired accidents. Drivers who drive under the influence are not only risking their life and the lives of others, they are risking being able to ever get life insurance for their families, according to new data from Ethos Life, the InsurTech leader that is transforming the life insurance space.
Upon analysis of applicants for life insurance who had at least one driving under the influence (DUI) infraction, the data from Ethos Life shows it's cut and dry — either you qualify or you don't.
- If you've had one DUI in the last five years, you will not be eligible for a fully underwritten life insurance policy.
- If you have more than two DUIs on your record, you will likely not ever qualify for a fully underwritten life insurance policy.
"According to the National Highway Traffic Safety Administration, every day 29 people in the U.S. die in motor vehicle crashes that involve an alcohol-impaired driver," said Peter Colis, Ethos CEO and Co-founder. "We hope that by empowering people with additional information on the lesser-known implications of a DUI, they will be able to make more informed decisions moving forward."
For those with a recent DUI conviction, or with several DUIs in their past, an elevated risk product like guaranteed issue (often purchased as end-of-life or burial costs insurance), might be their only option for life insurance coverage. While these policies may be limited in coverage or have higher premiums, it still allows anyone the opportunity to protect their family in case something were to happen to them.
About Ethos
Ethos is a new kind of life insurance provider that makes getting coverage easy and accessible for millions of families. Ethos uses deep technology and data science to eliminate traditional barriers to life insurance and bring the industry into the modern age. The company built its technology from the ground up with a focus on creating a seamless customer experience; a mobile-first, online application process that takes minutes instead of weeks, and offering coverage without a medical exam for over 99% of applicants and a few health questions. The result is a life insurance company that puts people first. The company is headquartered in San Francisco with offices in Austin and Singapore. To learn more, visit www.ethoslife.com.
SOURCE Ethos Life
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article