Can you get high risk life insurance policy?

High Risk Life Insurance

This particular kind of high risk life insurance policy is offered to individuals who are at higher risk than others. This degree of risk varies from individual to individuals. Depending upon the sort of profession, hobbies, and habits the individual under consideration is subject to. People with below-average health conditions also qualify for a high risk insurance policy. Those living in precarious environmental conditions, pursuing risky professions (e.g., miners, construction workers, roofing specialists, Fishermen, ranchers, etc.) are equally essential candidates.

Health Conditions that are Considered High-Risk

High-risk life insurance policy options are generally limited and are mostly offered at higher rates. Since there are lesser chances of longer life thus, insurance companies try to minimize their financial risks by providing expensive policy options or coverage. This exact cost of coverage is the fundamental difference between typical life insurance and high-risk insurance. Several health conditions are considered high-risk conditions. Such as:

  • Organ transplant
  • Addiction to Cigarettes and Cigar
  • Crohn’s Disease
  • High Cholesterol level
  • Cancer
  • Heart and Kidney Diseases
  • Chewing Tobacco
  • Family Medical History
  • Dementia

After doing a thorough assessment of these or any other expected health conditions, insurers offer various insurance policies to individual and group applicants. Based upon the degree and intensity of threat to their life, insurance coverage is formulated and offered. The offered insurance policy is contingent upon the company’s risk tolerance ratio. That plays a vital role in predicting the number and age of years expected of the applicant’s life. These assessments are crucial to estimate death benefits, cash withdrawal mechanisms, and taking care of other monetary arrangements.

High-Risk Life Insurance Rates

A typical way for calculating high-risk life insurance rates is via, table rating system. That increases the percentage of premium, as compared to a standard level. For instance, if an ordinary insurance applicant is paying $100 for a standard premium, then a high-risk applicant will be paying almost 50% more on a standard premium, i.e., $150. However, every insurance provider and company out there has a definition of its own when it comes to understanding the term ‘high-risk.’ Therefore, despite using a table rating system generally, the final assessment of risk and individual’s application is deduced as per their methods.

Can I Buy Life Insurance if I Am Considered a High Risk?

If, according to the insurance company’s standard policies, you fall on high-risk criteria. Then the only kind of insurance that you can purchase is high-risk life insurance. There is a distinct difference between typical life insurance packages and high-risk life insurance coverage. And your life expectancy plays a vital role in determining the fate of the policy that will be drawn for you. If you are considered a high-risk applicant, there is a definite chance of increasing your cost of coverage and premium rates associated with it. Therefore, you certainly can qualify for a life insurance policy, but that will be different in substance than standard policies. It would be a high-risk life insurance policy, instead.

What are the best high-risk life insurance companies?

Almost all market-competitive insurance companies across the globe offer high-risk life insurance policies as well. Each with a different set of packages and options, from which applicants can then choose as per their preferences. Following are the top providers of high-risk life insurance companies across the globe right now:

  • American General (AIG)
  • Prudential
  • Banner Life
  • Transamerica
  • John Hancock
  • Lincoln International
  • Pacific Life
  • Protective
  • SBLI

Which insurances are useful?



Eventually, which policy coverage will you prefer depends only on you. With the help of this article, we can only help you make an educated decision that can highlight your beneficial interests and objectives for you.