High Risk Life Insurance Companies- Which Are Best [In 2019]
high-Risk Life insurance Companies-Don’t Tell Me I Can’t Do THAT and Get Insurance
We all take occasional risks. 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.
Like parents without a sense of humor, life insurance companies like to tell people that their high-risk, hobbies, or health issues are a ‘no-no.’ If you’ve behaved badly and 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. Consulting an agent experienced with the market and high-risk insurance companies is the best way to find policies and rates that let you do what you want.
I’m Healthy! Why Am I High Risk?
Some people are shocked when life insurance carriers classify them as high risk. Their adventurous and enthusiastic YOLO lifestyleis one that insurers frown upon. 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 fun and so-called irresponsible activities that may send you shopping for life insurance with a high-risk carrier include:
- Scuba diving
- Hang gliding
- 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.
High-Risk Life Insurance Companies Don’t Take No for an Answer
High-risk insurance companies are in business because other companies say no.
However, they sometimes deny applications, too.
If you are denied, there are still avenues to pursue when you are a high-risk candidate.
Most life insurance buyers don’t 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.
Live Your Life and Insure It, Too!
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 companies 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.