High Risk Life Insurance
Life insurance is an important purchase, and something that everyone with a family to support must have. But what do you do if you have been turned down for life insurance coverage due to a preexisting condition, dangerous occupation, risky hobby, medical problem or other reason? When you are turned down for life insurance coverage it is tempting to just give up and shrug your shoulders, but that is exactly the wrong thing to do.
After all, your family still depends on you for many things, from financial support to emotional stability. In the event of your untimely death that financial stability would be gone, and your family could be left with nowhere to turn. Life insurance is an investment in the future, and it is important to give your family members the protection they need and deserve. Being turned down for coverage is certainly a blow, but it should be the beginning of the shopping process, not the end.
That is because there are many life insurance companies that specialize in insuring those who other companies have turned down. High risk life insurance is a thriving business, and there are plenty of policies available for those who know where to look. The key is to be persistent – those who give up may be left without coverage but those who persevere can eventually get the life insurance coverage they need.
If you have been turned down for life insurance you may want to ask the agent exactly what factors played a role in their decision. Some companies may be more willing to share this information than others, but it never hurts to ask. Maybe you were turned down because you are currently a smoker. Maybe the life insurance company had a problem with your occupation, or with a dangerous hobby you engage in. Perhaps the problem was a medical condition, or a bad report from the life insurance company’s doctor. No matter what the reason it is important to take stock and move on in the search for coverage.
One of the best places to look for coverage is with companies that specialize in so-called high risk life insurance. This type of life insurance coverage is designed to provide those with preexisting medical problems, health issues and other problems with the coverage they need. While you can expect to pay a bit more for the coverage you need, you should be able to find a policy that meets your needs for a price you can afford.
Of course it is still important to shop around as much as possible, since the premiums for high risk life insurance coverage can vary quite widely from company to company. It is always a good idea to solicit quotes from a cross section of highly rated life insurance companies, and to compare those coverage options carefully. Only after you have compared the policies will you truly know that you have gotten the best possible coverage for the lowest possible price.