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

UPDATED: May 13, 2021

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The Brief

  • Life insurance companies consider professions, hobbies, habits, and illnesses
  • Life insurance companies use rating systems to determine risk
  • Some life insurance companies specialize in high-risk coverage

Applicants with high-risk jobs, hobbies, or illnesses might wonder if they’ll qualify for life insurance. If you’re wondering how much does whole life insurance cost, it will depend on the risk and insurance company.

Discovering more about life insurance for high-risk individuals will help you determine if you qualify and the rates you’ll experience.

To learn more about affordable life insurance for high-risk individuals rates, enter your ZIP code to find the best life insurance quotes in your area.

What is life insurance for high-risk individuals?

Life insurance for high-risk individuals is coverage available for those that are considered a higher risk to insure than other people. These risks might include an applicant’s occupation, habits, hobbies, or health.

There are life insurance companies that specialize in high-risk policies, ensuring that most people can obtain coverage.

According to the Insurance Information Institute, some high-risk individuals hire independent life insurance brokers to find providers that will offer coverage.

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How are life insurance rates determined for high-risk individuals?

Applicants looking to buy life insurance for high-risk individuals will have to answer questions about their health and lifestyle

The life insurance underwriting test will help determine if a person is considered high risk. Qualification for coverage and rates depend on the applicant’s assigned risk level and health rating.

What do life insurance companies test for in underwriting? Underlying health concerns, for one.

A life insurance company for high-risk individuals determines risk with a rating system. Most high-risk life insurance companies have seven categories, with the lowest being the table rating category.

This is for those with below-average health, making them riskier to insure.

Most life insurance companies will rate an applicant with a number (1-6) or a letter (A-P). This rating determines the percentage above the standard rate that a policyholder will have to pay.

What do life insurance companies look for in high-risk individuals?

Life insurance companies will look at several aspects of a person’s life when considering an applicant’s risk. The four types of risk in insurance that will be examined are profession, hobbies, habits, and illnesses.

High-risk professions are those that put a person at a higher risk of injury or death, such as loggers and fishermen.

Life insurance providers will look at injury and death statistics provided by the U.S. Department of Statistics and experiences the company has had with customers in those professions.

When considering an applicant that enjoys high-risk hobbies, a life insurance company will ask a few questions.

Some of the information the provider will inquire about include how often you participate, whether your participation is riskier than the average person, and if you have any certifications.

The main high-risk habit that life insurance providers are concerned about is smoking. Most risk categories are dependent on this habit.

If you do smoke cigarettes or cigars, the provider will want to know how frequently you smoke and whether you’ve quit for any period of time. The less you smoke, the lower your rates will be.

Serious illnesses are considered high risk by life insurance companies. If you have a serious illness, you’ll be asked questions about your condition.

The company also might attempt to obtain medical records from your doctor and copies of your treatment plan.

Life Insurance for High-Risk Individuals: The Bottom Line

The risk of a life insurance applicant depends on their profession, hobbies, habits, and health. The higher risk the applicant, the higher rates they’ll pay.

Life insurance providers use official statistics and previous experiences to determine risk. Understanding these factors will help you determine if you qualify for life insurance for high-risk individuals.

To find life insurance quotes for high-risk individuals in an area near you, enter your ZIP code to discover the best life insurance rates in your area.