Life Insurance for High-Risk Individuals [2023]
A person’s occupation, hobbies, lifestyle, and health conditions can qualify them as high-risk. Buying life insurance for high-risk individuals can be simple as long as you know what to look for. Read through the article to learn more and get started with your search for affordable high-risk life insurance today.
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Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
Licensed Insurance Agent
UPDATED: Jul 7, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jul 7, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Life insurance is an option for people who are considered high-risk
- High-risk life insurance coverages vary based on several factors
- Many companies offer high-risk life insurance coverage
Finding life insurance for high-risk individuals can feel like a daunting task.
Whether you’re deciding between term or permanent life insurance coverage, being high-risk can make finding life insurance coverage more of a challenge, and the cost of insurance can vary from one company to the next.
If you are high-risk, you can still find affordable life insurance for high-risk individuals. Finish reading this article and then compare life insurance quotes to see how much you can save!
What is high-risk life insurance?
High-risk life insurance is a label that many insurance companies use to identify individuals who do not meet the standard health category but are instead categorized as sub-standard.
Rating Class | Policy Risks | Policy Costs |
---|---|---|
Preferred | Low | Least Expensive |
Standard | Average | Average |
Sub-Standard | High | Most Expensive |
As the table indicates, people who are considered high-risk will likely pay the most for life insurance coverage.
The reasons a person may qualify as high-risk are vast and may include:
- occupation
- hobbies
- lifestyle
- health history
- travel tendencies
Because of these factors and many more, some people have to shop specifically to find life insurance for high-risk individuals.
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What is a high-risk occupation?
Most insurance companies consider occupations that endanger your life in any way to be high risk.
For example, in the most recent study by the U.S. Bureau of Labor Statistics, one out of every five work-related fatalities in the U.S. was either a driver/sales worker or a truck driver.
Because of this, the individuals in these job positions will likely be considered high-risk.
Additionally, life insurance for nurses and other people in the medical field may also be considered high-risk due to their risk of exposure to life-threatening illnesses and diseases.
Other high-risk occupations include:
- Agriculture
- Construction
- Emergency response
- Military
- Transportation
- Manufacturing
While not all insurance companies have the same list of high-risk occupations, most of them are fairly similar.
What are high-risk hobbies?
Similar to a person’s career, an individual’s choice when it comes to pastimes can affect life insurance rates.
If you enjoy skydiving, scuba diving, rock climbing, or racing cars, you may want to consider searching for life insurance quotes for high-risk individuals.
Are there high-risk health conditions?
One of the most impactful categories when it comes to assessing risk is a person’s health. If you have health issues or pre-existing conditions, many insurance companies may deem you high-risk.
High-risk health conditions include:
- Crohn’s disease
- Kidney disease
- Heart disease
- High cholesterol
- Cancer
- COPD
- HIV/AIDS
- Stroke
Finding life insurance for pre-existing conditions can be difficult, so it’s important to shop around and explore your options.
In addition to health conditions, a person’s habits could put them in the high-risk category if those habits have the opportunity to impact their overall health. Some high-risk habits include smoking, drinking alcohol, chewing tobacco, or using non-prescribed drugs.
What is guaranteed issue life insurance?
Life insurance for high-risk seniors, especially those who have pre-existing conditions or who participate in high-risk habits, can be difficult to find. This is where guaranteed issue life insurance comes in.
Guaranteed issue life insurance—also called guaranteed acceptance life insurance—involves no health questions and can help individuals pay for end-of-life expenses like funeral costs and medical bills.
Guaranteed issue life insurance falls into the category of final expense life insurance.
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How are rates for high-risk individuals determined?
Because life insurance rates for high-risk individuals fall into the sub-standard category, they will likely automatically cost more than the standard rates for coverage; however, there is still room for interpretation when it comes to average rates per person.
Companies will take all of the above factors into account before offering specific high-risk coverage options. Each insurance company will employ its own system for evaluating a person’s risk level.
What are my options for life insurance for high-risk individuals?
If you are considered high risk, you can likely still purchase a life insurance policy.
You may find that you have limited coverage options, and you will likely have to pay more for your life insurance policy. This is because any insurer’s life expectancy for you will be considered shorter than average.
How do I choose?
After reading all of the information above, it may feel daunting to try and choose where to go to find life insurance for hard to insure individuals.
Now that you have learned more about high-risk insurance coverage, use our tool to buy life insurance for high-risk individuals today!
Your life insurance quotes are always free.
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Case Studies: Life Insurance for High-Risk Individuals
Case Study 1: John – The High-Risk Occupation
John works as a professional firefighter, a job that involves significant risks to his life. His occupation classifies him as a high-risk individual when it comes to life insurance. Despite his passion for helping others and dedication to his work, John faces higher premiums due to the inherent dangers associated with firefighting.
Case Study 2: Sarah – The Adventurous Hobbies
Sarah is an adrenaline junkie who loves engaging in extreme sports like skydiving, scuba diving, and rock climbing. While her hobbies bring her joy and excitement, they also increase her risk profile in the eyes of life insurance providers. As a result, Sarah’s life insurance rates are higher compared to individuals with less adventurous pastimes.
Case Study 3: Michael – The High-Risk Health Conditions
Michael has a pre-existing health condition, specifically Type 2 diabetes. This health condition places him in the high-risk category for life insurance coverage. Insurance companies consider individuals with certain health conditions more likely to face complications, leading to increased mortality risk.
Frequently Asked Questions
What is high-risk life insurance?
High-risk life insurance is a category used by insurance companies to classify individuals who don’t meet standard health criteria and are considered sub-standard. Being high-risk can result from factors such as occupation, hobbies, lifestyle choices, and health conditions.
What occupations are considered high-risk?
Insurance companies typically consider occupations that involve potential risks to life as high-risk. Examples include drivers, truck drivers, medical professionals, and other occupations with a higher likelihood of exposure to life-threatening situations.
Can hobbies affect life insurance rates for high-risk individuals?
Yes, an individual’s hobbies can impact life insurance rates. Engaging in activities such as skydiving, scuba diving, rock climbing, or car racing may increase the risk factor, making it important to consider life insurance quotes for high-risk individuals.
What health conditions are considered high-risk for life insurance?
Health conditions play a significant role in assessing risk for life insurance. Pre-existing conditions like heart disease, cancer, diabetes, or any condition that poses a potential risk to life can be considered high-risk. Certain habits like smoking, excessive alcohol consumption, or substance abuse can also contribute to the high-risk category.
What is guaranteed issue life insurance for high-risk individuals?
Guaranteed issue life insurance, also known as guaranteed acceptance life insurance, is a type of coverage that requires no health questions. It can be suitable for high-risk individuals, particularly seniors with pre-existing conditions or high-risk habits. Guaranteed issue life insurance helps cover end-of-life expenses like funeral costs and medical bills.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.