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High Risk Life Insurance

September 2nd, 2009 by admin in Life Insurance

If you participate in certain high risk activities or have high risk medical conditions, you’ve probably been turned down for life insurance before.  Some companies simply won’t cover you because your risk of dying is higher than the average person’s.  Don’t give up looking though, there are high risk life insurance companies who specialize in insuring the people other insurance companies won’t.

What are these high risk activities?  The list generally includes, but is not limited to:

  • Flying (not commercial flight, this is talking about you piloting a private aircraft)
  • Hang gliding
  • Mining
  • Handling explosives
  • Auto racing
  • Rock climbing
  • Scuba diving
  • Travel to unstable countries

High risk health conditions include:

  • Cancer
  • Diabetes
  • AIDS
  • Heart disease
  • Stroke

Life insurance is such an important part of your family’s financial plan.  Do not give up looking for the policy that fits your life and provides the safety net your family needs.  As with all life insurance needs, we recommend high risk term life insurance rather than a whole life policy.

High risk life insurance policies are generally issued by companies who are willing to do more work to figure out how to insure you.  They often specialize in the high risk conditions (Such as companies that offer diabetes life insurance or rock climbers life insurance) and are equipped with the extra knowledge and staff members qualified to underwrite a high risk life insurance policy.

High risk premiums will vary based on your personal situation and your state laws.  You can expect them to be higher than your contemporaries’ without high risk conditions.  Companies that specialize in certain high risk conditions will probably be able to offer you the best rates.

You may be able to pay an extra flat fee to maintain your coverage if you start engaging in high risk activities or you may have to sign a waiver releasing coverage if you die during such an activity (such as piloting a small plane).  Talk to a good life insurance agent and figure out all of your options.

Not all high risk life insurance companies are the same—you’ll need to shop around to find the best rates and coverage for your situation.  Use the internet to make research quicker and easier.  Find out what options are available; compare rates and quotes and find the best life insurance for your family.

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Related posts:

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