Get Life Insurance with a Felony Conviction

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Obtaining life insurance with a felony on your record might be a tough undertaking. However, that doesn’t mean you can’t get approved. There are many factors that add to the complexity of getting a life insurance policy—for instance, a serious health condition, hazardous activities (i.e., diving, parachuting), and even a felony.

Most major insurance companies view applicants with a criminal record as presenting a higher risk. Depending on the nature of the conviction, though, along with the amount of time that has passed since, you may still have some options.

We’re an independent life insurance agency that has expertise with high-risk individuals. We are able to shop around with all the insurance companies on your behalf to make sure you get the best coverage based on your circumstance.

Why a Felony Matters to a Life Insurance Company?

Many insurance companies associate individuals with a felony on their records with higher risk. Each individual who applies for life insurance presents a set of potential risks to the carrier, and the carrier must decide to either approve the policy without restrictions, approve it with higher rates, or deny it. Which of these outcomes takes place will be based on the nature of the risk that the applicant poses to the company.

In considering an individual with a criminal history, an insurance company has to consider the impact incarceration might have had on the person’s wellbeing. Incarceration is undoubtedly a traumatic experience, one that can take a toll on mental and physical health.

But there’s also a higher chance of contracting certain diseases while in prison, which could ultimately result in death years later. Even more, drug use is sometimes closely related to incarceration. Any of these occurrences may result in premature death.

What the Underwriter Will Ask?

life insurance with felony questions infographic

What Other Options Do You Have?

If you are a felon who has been declined for life insurance, you have 3 choices for a more accessible policy:

  • Group life insurance through your employer. If you work for a company and they provide life insurance, you could get a life policy through that program. Keep in mind that the coverage is effective as long as you work for them. Typical coverage amounts range from $25,000 to $50,000.
  • Accidental death policy. This policy pays benefits for death caused by an accident. A death resulting in a heart attack or stroke won’t be covered. This isn’t ideal, but it’s better than nothing.
  • Guaranteed issue. This policy has a 2–3 years graded benefits clause, which means that, if you die within 2–3 years, no death benefit will be paid, instead the beneficiaries will collect the total premium paid plus 10 percent interest. The max amount on these policies is $40,000 and you must be over the age of 40.

Can I Get Life Insurance While on Probation?

Unfortunately, that’s not usually an option. Life insurance companies require a 1- to 5-year waiting period after probation has ended to obtain coverage with a standard rating class. (It all depends on the company’s underwriting.) The further back your criminal activity happened, the better.

Many life insurance companies don’t want to insure a person on probation because there is a higher likelihood of returning to jail. The criminal justice system is still monitoring someone on probation, and any small violation can place him or her in prison once again.

If you would like to buy life insurance and you have been convicted of a felony, the best advice is, to be honest—don’t hide it. The first thing the carrier does when they get an application is a background check. If you lied on the application, they will deny your application without giving you a chance. And keep in mind that being denied for life insurance with one carrier will open the doors for others to follow suit.

How to Get Life Insurance with a Felony Conviction?

The reality is that it isn’t easy for people with felony convictions to get life insurance. It can be very frustrating, and the underwriting process might be longer than the usual 4–6 weeks. The way I see it, there are 2 routes you can take:

  1. Call and apply to all the carriers out there and hope to get your application issued. Lots of time and trouble go into this.
  2. Call one broker who deals with all the insurers, and just be honest about what happened. Then, you will get a clear answer on your chances of getting a life insurance policy and how to accomplish it. (Once again, the type and severity of the conviction, along with the period of time that has passed since, will have a major impact on the kind of coverage you’ll be able to get, how much you will pay, or whether you will get one at all.) An independent broker can advise you about other options you may have if your application for a conventional policy is declined.

The Single Most Important Tip

The most effective suggestion I can provide is that you write an exceptional cover letter describing your situation. Tell the company what happened, and take full responsibility for your conviction. If you can show a stable workplace, some education, and connection to service and the local community, you will have a far better chance of getting your life insurance policy issued.

Insurance companies want your business, but not for any price. The underwriting method provides them with time to perform their groundwork and get to know you before deciding whether or not you are a good match for them.

What Carrier Do I Have the Highest Chance With?

As I mentioned before, every carrier will look at your situation differently. However, the most aggressive carrier I would go with is Prudential. Prudential uses “underwriting credits.” In plain English, that means that, if someone is overweight and between the ages of 18 and 59 and has no other medical issues, metabolic syndrome, or diabetes, he or she could get a policy for a preferred rate instead of a standard one. They give customers “credits” for overall health and don’t concentrate too much on weight.

The same goes for a felony. If you can show an outstanding recovery and rehabilitation, you may get a better rate. I highly doubt this would be preferred, but a standard to table 4 would be the norm. (You would expect to pay 2–3 times as much as someone who has preferred table ratings.)

Keep in mind that underwriting guidelines are changed frequently, and what is true today may not be accurate in a few months. If you have a felony conviction on your record, talk to a broker who is familiar with the underwriting guidelines of every carrier out there. It costs you nothing, and you have someone on your side who wants you to have a policy because this is how they make their living.

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Jun 30, 2016 | Categories: Impaired Risk | 34 comments

About the Author: Ron Attias

34 Comments
  1. Barbara Burgess

    Thanks for the info!

    Reply
    • Ron Attias

      Hi Barbara,

      I’m glad you found this useful!

      Reply
  2. Steven

    Hi Ron,

    I’m a felon who are looking for life insurance. Do you think you can help me?

    Reply
    • Ron Attias

      Hi Steven,

      There are a few questions I will need to know before recommending a policy. I’ll email you shortly.
      Thanks,

      Reply
  3. Anibal Gutierrez

    Hello Ron I just purchased accidental life insurance and have life ins through my work but have been turned down outside of these options due to my felonies can u email me and lead me in the right direction? Thank u

    Reply
    • Ron Attias

      Hi Anibal,

      Be on the lookout for an email.
      Thanks,

      Reply
  4. Vanessa jones

    Need info I been denied cause of felony thank u my name is vanessa

    Reply
    • Ron Attias

      Hi Vanessa,

      I’ll need to know more information regarding the felony before recommending a policy. I’ll email you shortly.
      Thanks,

      Reply
  5. Lee Anderson

    Ron,

    Same story here, completely turned my life around and started a family. I’ve been turned down by other brokers. Im grateful for any assistance.

    Reply
    • Ron Attias

      Hi Lee,

      Thanks for reaching out. Be on the lookout for an email.

      Reply
  6. Samuel munday

    My husband a past felonies

    Reply
    • Ron Attias

      Hi,

      Please give us a call at 866-326-3053, and we’ll do our best to help.
      Thanks,

      Reply
  7. christine Bonsera

    Can you please send me an email. I want to tell you my situation and see if you can help.

    Reply
    • Ron Attias

      Hi Christine,

      I’ll email you shortly.
      Thanks,

      Reply
  8. Ladona Herd

    Can you please email for details for life insurance

    Reply
    • Ron Attias

      Hi Ladona,

      I’ll email you shortly.
      Thanks,

      Reply
  9. Patricia mcfarlin

    Are there any agencies that will cover inmates serving time

    Reply
    • Ron Attias

      Hi Patricia,

      I don’t know of an insurance company that would issue a policy to someone in prison.

      Reply
  10. Ta'Fanesamekeya Davis-Rosa

    Ron,

    I really appreciate the information. I notice you mention probation. Does the same concept of a higher likelihood of acceptance once off probation apply to parole as well?

    Reply
    • Ron Attias

      Hi,

      Yes, this is correct. The insurance company views probation and parole as an increased risk and most likely deny coverage. In both cases, the defendant is supervised by the authorities and expected to follow specific guidelines, and if he fails to comply with his conditions, he may return to prison.
      Thanks,

      Reply
  11. Tay

    Hey ron I was wondering if you can help me find a policy for my Husband that’s has a felony.

    Reply
    • Ron Attias

      Hey Tay,

      I’ll do my very best. I’ll call you shortly.
      Thanks,

      Reply
  12. Dawn

    My husband has a bad felony from 25 years ago. Can you help me?

    Reply
    • Ron Attias

      Hi Dawn,

      I’ll email you a few questions to see if he can qualify for coverage.
      Thanks,

      Reply
  13. John Rough

    I hit a cop while drunk 10 years ago. I haven’t been in any trouble since. I own my own business, and they are telling me I can’t have more than a $100,000 policy. Thanks for any help.

    Reply
    • Ron Attias

      Hi John,

      I’ll email you shortly a few questions related to the felony; alternatively, you can give us a call at 866-326-3053.
      Thanks,

      Reply
  14. Jeanette Conley

    My younger brother was killed 2 months ago. He opened a policy 8 months prior to his passing and the insurance company is trying to claim he lied about being a convicted felon which I know isn’t true. He was never asked if he had been convicted of a felony. I believe they are going to deny the death benefit owed to me.

    Reply
    • Ron Attias

      Hi Jenette,

      I’m terribly sorry to hear about your brother.

      I’m not sure the reason the insurance company contested the claim, but most states allow the carrier to challenge the claim’s validity for two years after the coverage was issued if they find material misrepresentation on the application. Moreover, the insurance companies do have a question on the form regarding a felony conviction. You may want to hire an attorney if you feel that your brother was truthful when he applied for coverage.

      Reply
  15. JOE, kenya

    Hi Ron, I appreciate the work you are doing. I couldn’t help but notice your replies on each and every query. It takes a human to help a human, you’ve demonstrated that quite well. continue with the good work bro.

    Reply
    • Ron Attias

      Hey Joe,

      Thanks for the comment.
      Cheers,

      Reply
  16. Christine Navarro

    Hello Ron,
    I have a brother who is a convicted felon and is currently on parole. I want to get him insured because financially I understand that he really does not have the means to address it. I am afraid should he pass away, I will have to be the one to address his funeral expenses. Would there be a carrier that would be able to help me/us.

    Reply
    • Ron Attias

      Hello Christine,

      Insurance companies refrain from insuring people on probation. Typically, most companies require a 1- to 5-year waiting period after probation has ended to obtain traditional coverage.

      If you only need a small life insurance policy, consider guaranteed issue plan where he can get up to $40,000 without answering any questions on the application.

      Keep in mind there is a two-year waiting period, and he must be over the age of 40 to apply.

      Thanks,

      Reply
    • James Novack

      Felony charges been on probation for 2 years need 100,000 life insurance policy. can you help?

      Reply
      • Ron Attias

        Hi James,

        Go ahead and enter your information on the form, and one of our licensed brokers will get back to you.
        Thanks,

        Reply

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