Life insurance for high risk applicants


When applying for life insurance, the insurance company takes into account factors like yours age, Gender, medical history and lifestyle to determine your eligibility and calculate your premium. People without serious health problems usually have no problem getting a policy. However, some people have risk factors that make them a greater risk for the insurance companies. These people, known as high-risk applicants, still have life insurance options, but they should know what options they have.

What is a term life insurance applicant?

“A term life insurance applicant is someone who already has health concerns,” says Jake Irving, owner of Willamette life. “Every insurance company has its own definition of high risk (underwriting) standards. Some companies only look back two years into an applicant’s medical history; others have a much broader perspective. “

Unlike home or car insurance Life insurance offers depend on the life expectancy of the applicant. When you apply for coverage, your insurance company wants to know if you are statistically more likely to die prematurely.

From 2018 the average life expectancy in the United States is 78.7 years old. More specifically, the average life expectancy for men is 76.2 years and for women 81.2 years. That’s why Seniors pay more for life insurance as young people.

To determine your underwriting risks, life insurance companies typically require applicants to undergo a medical exam that measures key health characteristics such as height and weight, blood pressure, nicotine use, alcohol use, prescriptions, family history, and current medical conditions.

How do you know if you are at high risk?

Before applying for life insurance, it is important to determine if you fall into the high risk category so that you can plan your next steps. “If you are classified as high risk, you could be denied coverage, pay higher premiums, and / or wait to be fully insured,” adds Irving. The two most important factors that determine your life insurance eligibility are your medical risks and your lifestyle.

Medical risk

Life insurance companies want to know your personal medical history, as well as your family history of any illnesses that could make you a high-risk applicant. If you have any of the following conditions, you are likely to be considered high risk:

  • cancer: A diagnosis of any cancer will likely put you in the life insurance risk category. In order to take out a policy, most insurance companies require you to be cancer-free for a certain number of years.
  • Heart attack: If you have had a heart attack or have been diagnosed with heart disease, it will affect your ability to get life insurance. People who have had a heart attack often have another, which adds an added risk to insurance.
  • stroke: Strokes can affect your ability to obtain life insurance. Most life insurance companies will not approve a traditional policy if you’ve had a stroke in the last year or if you’ve had a stroke that led to other health problems such as paralysis.
  • dementia: Since there is no cure for cognitive disorders, people with dementia must take out term life insurance. On average, a person lives with Alzheimer’s four to eight years after diagnosis, according to the Alzheimer’s Association.
  • HIV / AIDS: People diagnosed with HIV or AIDS are considered high risk even if their condition is well treated. Some studies show that people with HIV / AIDS have a shorter life expectancy than the average.


The other important factor that will determine your life insurance risk is your lifestyle. Even if you don’t have any medical problems or a family history, things like your job, your habits, and the types of hobbies you enjoy may put you at high risk:

  • job: Life insurance companies consider your occupation to determine the level of risk you are exposed to on a daily basis. Some examples of high risk jobs are underground miners, steel workers, construction workers, and professional fishermen.
  • Hobbies: If you consider yourself a thrill seeker, you are most likely in the high risk category. Insurance companies want to know if you have potentially dangerous hobbies such as diving, mountain climbing, skydiving, and motorcycle racing.
  • Nicotine use: Smoking poses a number of health risks and can lead to other medical problems such as certain types of cancer and COPD. If you smoke cigarettes, vape or consume chewing tobacco, life insurance companies classify you as high risk.
  • Alcohol consumption: If you drink more alcohol than is recommended for both men and women, you are likely to be classified as high risk by life insurance companies. Excessive alcohol consumption can trigger other health complications and increase the risk of accidents.

How do term life insurance plans work?

To calculate prices, largest life insurer Use a table scoring system. “In table ratings, the applicant receives a letter (A – P) or a number (1–16) that indicates the percentage increase over the regular premium level,” says Linda Chavez, founder of Finder for senior life insurance.

“The standard bonus is increased by 25% for each letter or number in the table. For example, if the standard premium is $ 100, a table rating of B results in a premium of $ 150, which is 50% higher than the standard fee. If you have a rating of 7, you can pay 175 percent more than the regular price or $ 275 more, ”added Chavez.

Although many term life insurers use a tabular rating system, each insurance provider rates applicant risk in its own way. According to Chavez, “One insurer can give someone with high cholesterol a tabular rating while another gives the same individual regular life insurance rates. That may be because the second provider specializes in policies for people with high cholesterol. “

Can you save money on life insurance when you are at high risk?

If you fall into the high risk category, you can still save money on your life insurance. Since life insurance premiums are largely based on your medical history, improving your overall health is a good place to start.

For example, if you are classified as high risk because you smoke and are overweight, work with your doctor to help you lose weight and quit smoking. If you are taking medication to treat HIV / AIDS or any other health condition, continue to take your prescriptions to avoid other complications. If you are an avid diver, you should find a less risky hobby that you enjoy like surfing.

Don’t forget to look around before buying a cover. “Because every company has different standards to qualify, some companies are more lenient than others on certain conditions,” says Irving. the Life insurance costs strongly depends on the chosen provider.

“For example, some companies are more diabetic than others. The best way to find the lowest prices is to either browse it yourself or have an agent help you compare the plans that best suit your needs, ”adds Irving. If you think you are paying too much for life insurance, you always have the option to Change carrier.

frequently asked Questions

Which life insurance is the best?

the best life insurance is different for everyone. It will depend on factors such as your age, general health, the type of insurance policy you want, and the amount of coverage you need. You can find the best life insurance for you by looking around and comparing providers based on your personal criteria.

How Much Life Insurance Do I Need?

The amount of life insurance required should be based on your income and your family’s financial needs. You can a. use Life insurance protection calculator to find out how much coverage is best for your situation.


Comments are closed.