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Buying High-Risk Life Insurance

Life insurance can be confusing. While it’s meant to protect your loved ones in case you die, it’s tougher to buy life insurance when you’re actually sick. Insurance companies pay a great deal of attention to a bunch of factors like age, gender, medical history, health, and lifestyle. This is because insurance is a business, and securing financial protection comes with a price - a price that depends on the number of health issues and risk factors you have. The higher the risk of dying, the higher the cost of life insurance.

The good news is that even if you are a high-risk applicant (i.e., someone with pre-existing health concerns), you do have life insurance options. Understandably, insurance companies would go bankrupt if their business was to hand out huge sums of life insurance to people with a statistically higher chance of dying prematurely.

Are you a high-risk applicant?

It’s good to identify what risk-category you fall under before deciding to buy life insurance (so you’ll know exactly how much you're paying for and why). If you find you’re a high-risk applicant, you would have to be prepared to either be denied insurance, pay higher premiums, or have a long waiting period before you receive full coverage.

A general rule of thumb when determining your life insurance eligibility and costs is to identify your medical risks (i.e., conditions like cancer, dementia, HIV, etc.) and lifestyle (including hobbies, occupation, and alcohol and drug use).

What’s the cost of high-risk life insurance?

At first glance, it may appear that belonging to a high-risk category will force you to pay through your nose for decent life insurance coverage. However, several of the issues that push you into a high-risk category can actually be solved - poor health may be helped through lifestyle changes, dangerous hobbies can be replaced by safer alternatives, and medication for conditions like AIDS should be taken regularly to avoid other complications.

Don’t be afraid to shop around - every insurance company identifies risks differently and have varying eligibility standards. While you may be high-risk to one insurer, another may be more lenient.

The cost of life insurance ultimately depends on the insurance provider you choose. makes it easy for you to find the cheapest life insurance quotes based on your age, gender, occupation, and health condition. At the click of a button, you can shortlist the best life insurance rates in the market. Life insurance is simple with a trusty team of experts behind you.

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