What is High Risk Life Insurance?

People who participate in high risk activities or have impaired health conditions often are charged much higher premiums for life insurance, whether they choose term life insurance or permanent life insurance.  A few examples would be:

High-risk activities

High-risk health conditions

Depending on the rating assigned and the condition, a high-risk individual may be able to get coverage guaranteed for life for about the same cost as term life insurance. Please e-mail us or give us a call at 1-800-571-2980 for more information on shopping your case and getting the lowest life insurance rates.

How are High Risk Life Insurance premiums calculated?

The price that you pay is always determined by your age, the requested amount of coverage, and risk classification.  Risk classifications are generally assigned as follows:

If a substandard/table rating is offered, the premiums will usually be based off of the standard risk class with an extra 25% increase for each extra letter assigned.  For example, a Table B or Table 2 rating would cost the standard rate plus 50%, a Table D or Table 4 rating would cost double the standard rate, etc.  Insurance companies can also assign a flat extra rating with a specified cost per thousand dollars of insurance (such as $5.00 per $1,000 of coverage).  Flat extra ratings may be applied for only a few years, or for the life of the policy and are more commonly assigned for high-risk activities.  Table ratings are more commonly given for high-risk health conditions.

If I am a High Risk, should I just apply with a few companies and take the best offer?

No!  This is a very common question we get.  Applying for coverage with more than one company at the same time could hurt your chances of securing a policy.  It is in your best interest to find out before applying what the most likely offer will be from 10-15 different highly rated life insurance companies so that you know what to expect and know that you are getting the best possible offer.  Trying to get that information can be very difficult to do on your own, but TermInsuranceBrokers.com has a unique process to help shop your case for the lowest life insurance rates before ever completing an application (no personal information will be disclosed to any insurance companies).

How can I get a quote for High Risk Life Insurance?

CLICK HERE to get an instant quote – if you think you are considered a high risk individual, please use the “Regular” risk classification as a starting point for the premiums.

You can also give us a call at 1-888-972-0024 from 9 AM to 9 PM Eastern Standard Time for a more accurate assessment of expected premiums and to discuss your options in more detail.  You can also send us an e-mail by CLICKING HERE.  We look forward to hearing from you!