When it comes to getting life insurance, there are many considerations about whether to get term or whole, as well as the size of the benefits. However, one aspect of life insurance that needs to be considered is whether you fall into a high-risk category.
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Table of Content
What is High-Risk Life Insurance?
This is a form of life insurance for those with a statistically greater chance of meeting an unfortunate demise. This type of life insurance has been around for decades, but many people may not fully understand it.
High-risk life insurance does not necessarily mean that it is unobtainable or even necessarily all that expensive for those who qualify for its coverage. In fact, this form of life insurance may be quite affordable depending on the risk being covered.
Who are the Risky Candidates for Life Insurance Coverage?
There may seem to be a surprising number of risky candidates for life insurance coverage. This is largely because many hobbies, professions, habits, and diseases may not seem all that risky in terms of mortal danger. Still, statistics have shown that they carry a greater risk than insurance companies take into account.
High-Risk Hobbies:
It may seem surprising that several hobbies increase the risk of mortal danger in which we participate. But the truth is that some common and popular hobbies have been statistically proven to increase the risk of an unexpected passing;
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- Scuba Diving
- Sky Diving
- Rock Climbers
High-Risk Professions:
Some professions and sports place people in a high-risk category when it comes to obtaining life insurance.
- Private Pilots
- Commercial Fishermen
- Loggers
- Firefighters, Policemen, and More
High-Risk Habits:
Habits are the type of activities that put people statistically at risk. They include but are not limited to the following;
- Smoking
- Heavy Consumption of Alcohol
- Marijuana Smoking
Other types of habits make for risky candidates for affordable life coverage. However, you must check with insurance companies to see the full list of habits that may or may not be covered.
High-Risk Diseases:
Some long-term diseases have been shown to put those who suffer from them at higher mortality risk. The diseases include but are not limited to the following;
- Cancer
- Heart Disease
- Asthma
- Stroke & High Blood Pressure
- Diabetes
- Anxiety and Depression
- Bipolar Disorder and any pre-existing conditions.
Many high-risk life insurance carriers offer affordable coverage for various hobbies, professions, habits, and diseases that would otherwise not be covered. Remember that some risks may be reduced or eliminated depending on their nature. Be sure to check around and research to find the right life insurance carrier that provides the best coverage at the most affordable rates.
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