Types Of High Risk Life Insurance

Life Insurance3Types Of High Risk Life Insurance

Life insurance is important in life and it can be expensive. Several things can drive up the expense of life insurance like sports, dangerous jobs, to personal lifestyle and disease. It is important to know what insurance companies look for when you are shopping for an insurance policy, but some things that you can do will put you into a high risk insurance category.

Know before you buy if you will be in this category and it can save you some money if you can cut out some of the high risk activities.

Regular life insurance policies cost enough but add in lifestyle hazards like smoking or playing professional but dangerous sports will drive up the costs even higher. It seems unfair, but imagine it from the insurance company’s point of view – would you insure someone who was five times as likely to die early in life, and therefore not pay into the policy that long?

That is why it is called high risk insurance; you’re a risk to insure.  High risk insurance companies base these rates on statistical data of people that are unhealthy or lead unhealthy lifestyles. A disease as common as diabetes can be considered high risk to a life insurance company -as well as high risk professions like race car drivers or high rise construction workers.

However grim this may sound, it is possible to have dramatic cost cuts with life insurance. If a hobby sport is dangerous but you only do it every once in a while then you can save money. It must be reported to be covered because if you were to die while doing it the insurance company will not pay out a benefit.

Becoming licensed in a hobby sport can save dramatically on the high risk life insurance costs. Since most people can’t quit their chosen profession even if it is risky to save costs, so licensee or a good record is always a prime way of benefiting financially. Licensed pilots get a discount for having a lot of safe time in the air and that helps with their high risk life insurance rates.

High risk insurance also takes into account any personal unhealthy lifestyle practices you have. This includes smoking, drinking alcohol, and eating unhealthy. These are seen as high risk activities because they are damaging to the body. Before you want to get health insurance, it is important to quit drinking excessively, and to quit smoking cigarettes. Smoking has been linked to many bad things and that throws up flags to the insurance companies.

Some high risk insurance companies have a health examination before you can sign on with them if they noticed your bad cholesterol’s are high, you are obese, or you seem generally unhealthy they will be more likely to raise your rates. This can be avoided by eating a healthy diet with lots of minerals and nutrients and staying away from junk foods and saturated fats. This will reduce body weight and help to reduce premiums.

Obesity is grounds for being put into the high risk insurance category because it is directly linked to diseases like heart disease and high blood pressure. Another thing to consider is bone health; osteoarthritis is debilitating and can often lead to fatal falls or incapacitation.

This all makes perfect sense to a high risk insurance company. While it sounds harsh and unforgiving to a normal person, it is important to understand that all of these risk factors can shorten a person’s lifespan. If everyone were insured regardless of high risk behaviors, then these insurance companies could potentially go out of business because the insured die prematurely and do not pay enough into the policies for insurance companies to profit. High risk life insurance is a fact of life and it is important to try to do everything we can to eliminate a shortened lifespan.