Why Am I High Risk For Life Insurance? I Just SCUBA A Little

High-Risk Life Insurance Companies

 

Because we all take occasional risks, there are high risk life insurance companies who specialize in "outside the box" life insurance.  


But while everyone is known to have a bad habit or two, there are some people who enjoy hobbies that others consider ‘extreme.’ Life is a matter of personal choices. 

Unfortunately, when you’re shopping for life insurance, bad habits and hobbies are likely to be judged along with your health.

 

Life insurance companies consider some habits, hobbies, or health issues ‘high risk.’ If you’ve done something or have been placed in a high-risk category, finding affordable coverage can be difficult. However, it’s not impossible to meet your financial goals and provide your loved ones with comfort and security when you work with a high-risk insurer. Working with an agent experienced with the market and high-risk insurance companies is the best way to find policies and rates that fit your lifestyle.

 

 

I’m Healthy! Why Am I High Risk for term insurance?

 

Some people are surprised to learn that life insurance carriers have classified them as high risk. Their adventurous and enthusiastic YOLO lifestyle is one that insurers are not so happy about insuring. If you seek inspiration for your bucket lists from extreme sports and travel magazines, you may have to rely on a high-risk insurer for your life insurance.

 

Some not-so-common activities that may send you shopping for life insurance with a high-risk carrier include:

 

●       Scuba diving

●       Hang gliding

●       Skiing

●       Racing

●       Bungee jumping

●       Hot-air ballooning

●       Cigar and cigarette smoking

 

Other applicants naturally fall into the high-risk classification based on health issues. Underwriters may classify people with chronic diagnoses like kidney disease, diabetes, high blood pressure, or various cancers as high risk and send them to a high-risk company.

 

Once you know why you are a high-risk candidate, it’s easier to understand the market and shop for a life insurance policy with the help of a qualified and knowledgeable agent.

 

 

A life insurance application Denial Does Not Always Mean No

 

High-risk insurance companies are in business because other companies say no. However, they also deny applications. If you are denied, there are still avenues to pursue when you are a high-risk candidate.

 

Most life insurance consumers do not know that you can appeal a denial when you believe the underwriter may not have had all the facts or gave you a poorer than expected rating. Perhaps there was a change in circumstances that the company did not fully appreciate or investigate, or maybe you forgot to include certain mitigating factors when you made your initial application.

 

In any event, if you are denied, be sure the denial is accurate before moving on to other options. Appeals cannot be filed simply because you are unhappy with the insurance company’s rejection, so be sure to discuss an appeal with your agent first.

 

 

Specialty term life Insurers Provide Options

 

Whether you are classified as a health risk or a risk taker, specialty high-risk insurers may be your best option when buying a life insurance policy. Providing your agent with all the facts and details of both your health and your lifestyle will allow him to locate the best available market for your needs.

 

The worst thing to do when shopping for high-risk life insurance is to assume that you’re not eligible. The longer you wait to make your application and purchase, the more difficulties you are likely to encounter, so don’t delay and talk to an agent who knows the high-risk market today.

high risk life insurance companies
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Chris Acker, CLU, ChFC
 

Chris is an independent life insurance broker located in Palo Alto, Ca. He started helping families and businesses build strong financial safety net in 1985. He earned a BA in history from Williams College in 1985. He Earned the CLU designation in 1989 and the ChFC designation in 1991. He is a past board member of the local chapter of the Society of Financial Services Professional. He has been a member of the National Association of Insurance and Financial Advisors since 1985. Chris resides in Palo Alto with his wife, Carol and daughters Rachael and Samantha. In his spare time he is a regular platelet donor for the Stanford Blood Center and actively volunteers for various organizations and alumni groups.

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