High Risk Life Insurance For High Risk Individuals
For a healthy individual, getting a cheap term life insurance policy should be relatively easy. I’ve been fortunate to have locked in a “preferred class” rating each time I have applied.
But what if you’re not super fit or live a more “adventurous” life style? High risk life insurance quotes is necessary for many life insurance buyers because they present a higher risk to the insurance company.
An additional factor which may be involved could be that someone works at a dangerous job. When this is the situation, like the ones previously mentioned, then it will likely make a life insurance policy more expensive, if it is available at all. This is also known as impaired risk life insurance.
High Risk Health Conditions
You may be healthy as a horse, but because you are a risk taking, thrill seeking adventurer who likes to say these famous last words to your friends, “Hey, watch this…” you may find yourself being considered a high risk individual.
High Blood Pressure or Treated Blood Pressure
Life Insurance with Diabetes
Life Insurance with Multiple Sclerosis
Life Insurance for Smokers
Life Insurance with Lupus
These are just some of the categories of activities, hobbies, or lifestyles (or addictions or just plain bad habits) that will cause you to generally pay extra on your life insurance quotes:
Even non-fatal things like ADHD or OCD can have an effect, too.
If you do like to engage in some of these more dangerous activities, then be prepared to answer questions related to them such as how often do you do these, and what is your experience in these areas. Also do you have any type of special credentials or certifications in these areas.
Professions that require High Risk Life Insurance Quotes
The last category of those seeking high risk life insurance quotes are those finding themselves in hazardous occupations, like flying. Hopefully this isn’t you, but if it is, maybe your wages are more than enough to help pay for higher life insurance premiums.
Let’s look at some of these occupations, and keeping in mind this isn’t an exhaustive list, you may have some idea if you are in a hazardous occupation, and need to look for life insurance for high risk individuals.
For example, if you have to wear a harness, tote a gun, can’t buy workers compensation insurance because it is too expensive, wear some type of complete protection suit that keeps water or deadly unknown viruses from penetrating your suit, work over 3 stories high or underwater, have a chainsaw as your primary work tool, work for a company called Ringling Brothers Barnum and Bailey, or can be seen on TV on the Deadliest Catch, then you probably have a high risk profession and will being paying extra on your life insurance premiums.
Oh yeah, if you’re constantly traveling to Syria, Somalia, Iraq, Libya, or other countries on the US State Department’s not recommended dangerous travel list, then forget about it.
Options if you can’t get initial Life Insurance offers
Here are a few options to consider if you are rated up too high or you don’t receive initial high risk life insurance quotes:
Check with your employer to see if you are offered group voluntary life insurance at work through payroll deduction. Many times this life insurance is guaranteed. One of the insurance companies that offer these type products is the Cincinnati Life Insurance Company. You don’t have to work for a large corporation for this plan to be available. This is called work site marketing and it is becoming increasingly popular among employers.
Contact us for our guaranteed life insurance plans. The easiest way is to complete our Compare Quotes form on the right side of this page. You may not get the amount of death benefit you originally desired, however you will be able to get something. Sometimes these plans do not require a medical exam.
Look for high risk term life insurance quotes instead of more expensive permanent insurance quotes. However, if you get offers on either one, I suggest you take what you can get.
Lastly, take a serious look at your lifestyles, hobbies, profession, and/or addictions, and see if you have the means and/or willpower of changing those factors that are causing you to be considered a high risk life insurance prospect.
Getting High Risk Insurance Life Insurance Approval
When an insurance applicant is in a high risk group, it is inevitable that some insurance companies simply won’t write a policy for them. To increase your chances of getting a favorable life insurance policy, apply to many companies and specifically to the best insurance companies for your personal needs.
There are dozens of companies that will take your application, and it may take many applications to get an offer of coverage (we will submit them – you don’t have to do this). If you are not able to find one that does the traditional health exam, you can seek out life insurance without a physical to see if you can find the policy to meet your needs.
Keep an open mind when it comes to coverage. The terms you’re offered won’t be the best rates that the company offers to those outside the high risk life insurance group, but life insurance is important for everyone to have. You may have to lower the death benefit in order to get the premium down inside your family budget for life insurance.
When you get a favorable trial offer, take advantage of it. Keep a copy of it and make sure that the company that offered it stands behind it. Keep records of all of your offers.
If you accept one and the company discovers more unfavorable health information, it may be withdrawn. With a backup offer in hand, you can simply accept a different offer.