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by Jeff Rose
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For a healthy individual, get a cheap term life insurance policy should be relatively easy. I’ve been fortunate to have locked in a “preferred class” rating each time I have applied.
But what if you’re not super fit or live a more “adventurous” life style?
High risk life insurance is necessary for many life insurance buyers because they present a higher risk to the insurance company.
That risk may be a tendency to take on dangerous activities or working at a dangerous job.
Skydiving, racing cars and other dangerous activities can make it harder to find an insurance company that will write a policy for you. It will also likely make that policy more expensive.
Perhaps a more common reason for a high risk life insurance policy is some type of health problem that places you in a high risk group. This can be a current or past health problem that is serious enough to concern insurance companies. It can be hard to get life insurance with:
When an insurance applicant is in a high risk group, it is inevitable that some insurance companies simply won’t write a policy for them. To increase your chances of getting a favorable life insurance policy, apply to many companies. There are dozens of companies that will take your application, and it may take many applications to get an offer of coverage.
Keep an open mind when it comes to coverage. The terms you’re offered won’t be the best rates that the company offers to those outside the high risk life insurance group, but life insurance is important for everyone to have.
When you get a favorable trial offer, take advantage of it. Keep a copy of it and make sure that the company that offered it stands behind it. Keep records of all of your offers.
If you accept one and the company discovers more unfavorable health information, it may be withdrawn. With a backup offer in hand, you can simply accept a different offer.
If you have a high risk condition, call our office today to see if we can help toll-free (888) 836-7071.