Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Sep 29, 2021

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The Brief

  • High risk may limit what you can get at some insurers
  • There are still policies available for high-risk individuals
  • These rates will likely be higher and the death benefit may be capped
  • If you can lower your risk, you can likely get a better policy

When you live a life that’s considered riskier, you may be worried about what kind of insurance options are available.

However, several life insurance companies specialize in higher risk, and some sample life insurance rates for high risk are under $100 a month.

If you’re looking for rates for life insurance companies that specialize in higher-risk individuals, enter your ZIP code into our free quote tool.

Life Insurance Companies for High-Risk Individuals

An insurance company’s goal is to save money and make as much on a policy as possible. The higher the risk an individual poses, the more likely it will stand out as a red flag.

This will limit or prevent this person from getting a policy with that insurer.

However, there are life insurance companies that do specialize in higher-risk individuals that will offer certain policies that minimize the amount of risk they as a company take on.

A guaranteed life insurance policy allows you to get a policy without any of the traditional medical underwritings.

Below are the average monthly rates for life insurers that provide guaranteed issue whole life insurance:

Average Monthly Guaranteed Issue Whole Life Insurance Rates by Age and Gender
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Several insurers offer life insurance for high-risk individuals. The following specialize in affordable life insurance companies that specialize in higher risk:

  • AAA
  • Gerber Life
  • New York Life

Traditionally, guaranteed life insurance costs more due to the risk that an insurer takes on without any underwriting procedures.

Because the insurer has no idea of what your health is, you can count on the premiums going up just in case it takes any turns for the worse.

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Life Insurance Rates are Determined on Risk

What you’ll pay for your monthly rates are usually determined by the likelihood that the insurer will have to pay out on your policy.

If you lead a life that lends itself to more dangerous activities, you’ll likely have to pay more to cover that risk.

This can get tricky because some insurers will charge through the roof or won’t give a policy at all due to the higher chance they’ll have to pay out. Thankfully, there are options that insurers provide for these tough situations.

Life insurance companies that don’t specialize in higher risk are often more likely to do so to avoid having to potentially pay out on a policy they could see coming from far away.

What is considered high-risk in life insurance?

When it comes to life insurance, anything that severely endangers your life will be considered a big risk to your insurer.

Because the insurance company is a business, they want to maximize the amount of time you’re alive to pay into the policy.

Because of this, a life insurer is more likely to reward healthy behavior with lower rates, and a riskier life insurance policy will cost more.

This risk consideration usually extends past just a medical interest, and many of your hobbies and habits will be considered during an underwriting process.

Occupations With Higher Risks

There are some occupations that life insurers will consider too high of a risk to provide a policy for. Usually, these occupations are the ones that statistically have a higher chance of leading to an early demise.

Some of the most dangerous occupations, according to the University of Delaware, include:

  • Logging Workers – Falling trees and heavy equipment moving around prove deadly to workers.
  • Flight Engineers – Piloting a vehicle high in the air can prove very dangerous if something goes wrong, and that danger makes this job riskier.
  • Roofers – Constantly on roofs at least 10 feet in the air, roofers are at a higher chance for slips and falls during work.
  • Garbage Collectors – Working with heavy garbage trucks and other machinery can prove deadly when there’s an accident.

A worker in the above occupations, especially logging, will find that it’s very hard to secure a life insurance policy.

However, sometimes more dangerous jobs will offer their employees group life insurance in place of getting a personal policy.

If you work in one of the riskier occupations and hope to get a policy with an insurer outside of the workplace, you’ll likely end up paying much more than what a group insurance policy might offer.

High-Risk Habits and Hobbies

If you do things in your free time that seem dangerous to your insurer and it comes up during underwriting, your insurer will likely raise some red flags. This can include virtually anything from drug use to your past driving record.

A big one that insurers will always ask about is tobacco use. If you have a history of using products such as cigarettes or chewing tobacco, your insurer will want to know.

This is due to the statistics that show cigarette smokers are more likely to develop lung issues and other illnesses.

Heavy and extended drug use will also take a toll on your health, and your insurer will want to know if you’re currently using or have in the past.

The same goes for extensive alcohol consumption, as both of these issues will cause risky behavior and negative health effects if prolonged.

If you have any habits like these that might stand out to insurers, it might be worth considering if you can wait to apply until you’ve reduced some of the riskier behavior in your life.

Health Issues With Higher Risks

Since the insurer is covering your life, any illness that has a negative prognosis will likely be a non-starter for most insurers.

This isn’t to say that you won’t be able to get some form of policy, but your choice will likely be restricted to certain options.

Some of the more high-risk illnesses to insurers include:

  • History of cancer
  • Heart disease
  • Kidney disease
  • Organ transplant

Any kind of illness or injury that has a higher statistical probability of causing complications that could end your life will likely be looked at negatively. However, this is where the policies with no medical underwriting will come in handy.

If you can get a policy without any underwriting, you won’t have to worry about being in good health at the time of your policy. That being said, these policies are usually more expensive.

Best Life Insurance Policies For Higher Risk Individuals

Since a life insurer will charge more for higher-risk lifestyles, you likely will have to be more selective with what kind of policy you can get.

There are a couple of popular insurance products that might best serve someone with more of a high-risk lifestyle. Some of these policy options include:

  • Guaranteed Acceptance – This policy allows the holder to get life insurance regardless of health risk. However, these will cost more and the benefit may be capped.
  • Single-Premium – This policy relies on you paying the entire cost of the premiums up front, which guarantees a death benefit will be received from the insurer.

While these policies will be offered by insurers, it also may help to research what any local life insurance companies may be able to offer.

Insurance laws vary state by state, and one company may offer something that isn’t available nationwide.

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Life Insurance Companies That Specialize in Higher-Risk: The Bottom Line

If you’re living a life that is considered to be higher risk, you may be stressed about what insurers will give you a policy.

Luckily, there are options available to high-risk clients, although the price may be more expensive and death benefit may be capped.

If you’re looking for quotes for life insurance companies that specialize in higher-risk, enter your ZIP code into our free quote tool.