Getting Life Insurance

The terms available for life insurance often last as long as 30 years and are relatively inexpensive. If, however, you are looking for this insurance for your life and are denied, there may be a few good reasons why. Here is a list of how a person could be denied term insurance.

Smoking – As it is common knowledge, smoking greatly increases a person’s risk of fatal diseases such as cancer, and thus smokers’ life expectancies are statistically shorter. Thus, smokers are a risk to the insurance company and as such, can often be denied coverage. If coverage is extended, the premium will more than likely be high as this risk is reflected in the coverage rates.

Overweight – Being overweight has its disadvantages and when it comes to life insurance it shows in the rates for the premiums. Since health conditions may occur in overweight people such as coronary disease or diabetes, this puts you at a higher risk category. If you fall in the category of being obese as based on the Body Mass Index, then you likely will not receive cheap insurance for term life.

Existing Health Conditions – Life-threatening health conditions such as diabetes, high cholesterol, diabetes, depression and asthma can increase a person’s chances of dying. These conditions, if approved for life insurance, will often result in the policyholder paying a high premium.

Thrill Seeking – A person who may be a bit of an adrenaline junkie could find themselves disqualified from life insurance. Although it is commendable that a person has a hobby they enjoy, if it is something that increases risk of injury or death, like sky diving, scuba diving or flying, it will ultimately result in a hefty premium. Some careers are even at risk for high premiums due to danger as well; military service personnel may find themselves ineligible for life insurance.

Falsification – Omitting information or lying on the application can increase the rates. Many insurance companies require an autopsy performed to find out the cause for death. If it was due to any illness or habit, your dependents would not be able to collect from the policy.

Life insurance is extremely important to carry as, unfortunately, death can occur at any time. It is important to make sure that your loved ones will be taken care of in the event that you pass on unexpectedly. In addition to your family’s grief over losing you, having to deal with worrying about what their quality of life will become should not be something else they are concerned about.

Buying insurance for your life is simple when you contact a local insurance agent. They will be able go explain the policy details and help when deciding how much coverage is needed for your family. Agencies can offer different quotes from the major insurance companies at one time, allowing you to receive the most affordable rate for the service. Call today to schedule a time to meet with an agent to be covered for life.

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