Life Insurance for High-Risk Individuals

Life insurance for high-risk individuals can be expensive. Life insurance companies ask a lot of questions during the underwriting process to calculate insurance rates. If you have certain occupations or enjoy certain hobbies you may find yourself paying more for life insurance. Group life insurance through an employer or comparison shopping online is the easiest way to find affordable high-risk life insurance rates.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: May 2, 2021

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The Rundown

  • High-risk individuals are categorized as those with a higher risk of premature death
  • Every life insurance company uses its own method for determining who will be high-risk
  • The best option for those who are high-risk is to purchase term life insurance as it is the most affordable policy available

If you have recently been diagnosed with a serious illness or joined a job with increased risk, you may need to look into life insurance for high-risk individuals.

Risk and insurance have a complicated relationship. Keep reading to learn how life insurance companies decide who is high-risk and how you can still get affordable life insurance for high-risk individuals.

Ready to start looking for the perfect high-risk life insurance policy for your situation? Enter your ZIP code above to compare quotes before you buy life insurance for high-risk individuals.

How do life insurance companies evaluate individual risk?

Life insurance companies use statistics and data to calculate how at risk an individual is for an untimely death. There are many types of risk insurance, and each type is used to categorize individuals.

While every company will have its own algorithm, they all use the same basic categories:

  • Preferred plus
  • Preferred
  • Standard Plus
  • Standard
  • Substandard
  • High risk

These categories correlate to the rates you are going to pay for a life insurance policy.

Those in the preferred plus category will receive the most affordable rates. Those who are considered high risk will pay more for the same coverage.

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What makes a person qualify for high-risk life insurance?

There are many individual factors that can contribute to your life insurance rates, but they all fit into these categories:

  • Occupation
  • Health
  • Hobbies

Age and gender also play a part in life insurance pricing. According to the CDC, men have a shorter life expectancy than women. This factor has led to men paying more for life insurance historically.

How do I get affordable high-risk insurance?

It depends on what makes you high-risk. If you are currently battling a serious illness, it can be more difficult to find any life insurance company willing to provide you with a policy.

One of the best options available to high-risk individuals is term life insurance. Many term life insurance policies don’t require any medical exam to underwrite.

So, if you suffer from poor health, this can be a great way to get a more affordable rate.

If your job is the primary reason you are designated as high-risk, you may reach out to your employer or HR department to see if the company offers any group life insurance options.

Group life insurance is often provided to employees at a discounted rate or partially subsidized by your employer, so it can be incredibly affordable.

The final option would be to do a lot of comparison shopping. Every life insurance company has its own underwriting process and algorithm for determining individual status.

There may be some companies that are more forgiving of certain factors that make you high risk. Compare high-risk life insurance quotes online before you buy so you can guarantee you’re getting the cheapest rates.

Are you ready to start comparison shopping for the most affordable high-risk life insurance? Enter your ZIP code below to get started.

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