High Risk Life Insurance

This is an area close to our heart – just because you have a higher risk or a pre existing condition does not mean you can’t be protected.

Not everyone is going to be the perfect candidate for life insurance. Those who have serious health conditions, dangerous occupations, or hobbies may find it a challenge to find affordable high risk life insurance. However, just because you are considered to be of a higher risk should not disqualify you from finding the protection you need.

Your first step should be to contact an independent agency such as ourselves. Every life insurance company has different risk categories and underwriting guidelines that determine if they can offer you coverage and how much they are going to charge you. Since we have access to a multitude of different companies we will have much more flexibility to offer you a variety of solutions. Don’t be discouraged if you already contacted an insurance company and could not get the protection you need – in most cases we will be able to get you affordable coverage.

Insurance companies generally classify clients as high risk based on several factors including:

• Occupation: Some professions are more dangerous than others. Firefighters, fishermen, private pilots, miners, loggers, and similar jobs will be considered to be in a high risk category.
• Hobbies: Are you a weekend warrior who spends their workweek in an office only to go skydiving, rock climbing, or scuba diving on your days off? This is a category that is often overlooked, but those with dangerous hobbies are considered riskier to insure.
• Lifestyle: Two of the biggest risk factors in life insurance are smoking and obesity. Insurance companies use height and weight tables to qualify clients for preferred rates, while tobacco use alone can also prevent you from getting the best rates.
• Medical Issues: Probably the biggest question out there is “Can I get life insurance with a chronic illness?”. In most cases the answer is Yes! This all depends on the severity of the condition, long-term outlook, treatment options, and the age of onset. Don’t let having a chronic condition stop you – in most cases we can get life insurance coverage for those suffering chronic illness such as:
  • Multiple Sclerosis
  • Crohn’s Disease / Colitis
  • HIV
  • High Blood Pressure
  • Diabetes
  • Asthma
  • Heart Disease

Falling into one of these categories in itself will normally not disqualify you from obtaining high risk life insurance. In order to properly classify your risk level the insurance underwriters will attempt to obtain more detail about your occupation, hobby, lifestyle, or medical issue.

For example, if you are a recreational scuba diver the underwriters may ask about how often you dive, the average depth and conditions, ask for any certifications, etc. A casual diver who only goes diving once or twice a year will be seen much more favorably than someone who frequently dives deep shipwrecks. This also applies to those lifestyle issues. Recent smokers who have quit or smoke infrequently can often find better rates than heavy smokers.

Medical issues will also have a higher degree of underwriting. Having a past heart attack may not disqualify you, but the company will determine your risk level by requesting medical records from your doctor, checking your prescription history, and asking you questions about your condition.

Remember, every company has different standards when it comes to high risk clients. We will work with you to get a full understanding of your risk level and take your case to multiple companies to put together a package that gives you the protection you need at an affordable price.