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Life insurance protects your loved ones financially if you happen to die. To get life insurance, you must undergo a medical exam and submit health records. This process often disqualifies people who are considered to be high risk.
If you are going to apply for life insurance soon, but are worried that you may be disqualified, here is what you need to know.
Applying For Life Insurance
To get life insurance, you must submit an application and complete a medical exam. The results of the exam will be used to determine your risk level. If your risk is too high, the company may deny you coverage.
Who Gets Denied Coverage?
Here are a couple of factors that could lead to you being denied coverage:
Pre-existing conditions
If you have chronic conditions or other illnesses when you apply for life insurance, you may be disqualified. Cancer, heart disease, and severe mental-nervous disorders are a few pre-existing conditions that may lead to disqualification. When people with such conditions apply, they are perceived as less likely to live than someone who doesn’t have a pre-existing condition.
Alcoholism
If you are a chronic user of alcohol, you may be disqualified from life insurance policies. This doesn’t pertain to people who drink casually. Rather, people who are showing signs of deteriorating health due to drinking can be denied coverage. Beyond their physical health, life insurance companies see chronic drinkers as more prone to engage in high-risk behaviors, such as drunk driving. This increases their risk level, making them harder to insure.
History of depression
Sometimes coverage is denied based on the severity of someone’s depression. Because depression is an existing condition in providers’ eyes, insurance companies include depression in their risk assessment. If you’ve had a history of suicidal actions, for example, you are likely to be denied due to high risk.
Do Critical Illnesses Disqualify You From Life Insurance?
In some cases, critical illness will disqualify you from traditional life insurance. Though, with modern medical advancements, people who face critical illnesses like diabetes or cancer can recover and survive. That means the risk of insuring them is gradually decreasing. While not all plans will insure people who’ve suffered critical illnesses, getting coverage isn’t completely impossible.
Find Life Insurance
If you are worried about your eligibility for life insurance plans, work with an agent to find the best plan for your situation. Just call Insured For Life at 888-989-0079 to get started with a free consultation. During the call, you can bring up any factors that could keep you from getting accepted to a plan.
