Life Insurance for High-Risk Individuals | Money Saving Advisors
Learn about obtaining life insurance if you have a high-risk job or hobby. Find insurers that cater to higher risks.
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What's life insurance for high-risk people?
It's life cover for when you live life on the edge. A safety net under the tightrope walk. Life insurance for high-risk individuals offers financial protection even if your job, health, or hobbies make insurers more cautious.
When you're seen as 'high risk'
Not everyone ticks the usual boxes for life insurance. Some things that might flag you as high risk include:
- Dangerous jobs
- Think offshore oil rig workers, firefighters, or pilots. If your job regularly puts you in harm's way, insurers may see you as more likely to make a claim. That doesn't mean you'll be denied life insurance - but you might need a specialist provider.
- Risky hobbies
- Love skydiving, rock climbing, or windsurfing? Extreme sports can raise eyebrows with traditional insurers. But you don't have to give them up to get cover. There are policies that factor in high-risk sports and pastimes without charging the earth.
Health and lifestyle factors that affect cover
Some aspects of your health or lifestyle might bump you into the high-risk category too. These include:
- Pre-existing medical conditions
- Diabetes, high blood pressure, or a history of cancer don't automatically mean "no" – but they do mean providers will look a bit deeper into your medical history. One insurer might offer cover with exclusions and another may charge a higher premium.
- Smoking or drinking habits
- Smoking is a red flag for most insurers. The same goes for a high alcohol intake. They put you at greater risk and lower your life expectancy - and quitting or cutting back could reduce your premiums. Critical illness cover might also be worth considering.
Summing up
A spot of deep sea fishing won't necessarily sink your life insurance application. You can still get cover, even with other risk factors in your medical history. With the right guidance and a good provider, you can find cover that gives you and your family real peace of mind.
Ready to find life insurers for high-risk individuals?
Frequently Asked Questions
Can I get life insurance if I've been declined before?
Yes, being declined once doesn't mean you're out of options. Different insurers have different criteria, and some specialise in covering "high risk" applicants. This includes those with health conditions, a high risk job, dangerous hobbies, mental health challenges, and more. A rejection might just mean you applied with the wrong provider - and it may be worth speaking to a specialist broker.
Will I pay more because I'm high-risk?
It's possible your life insurance premiums may be higher than someone with a low-risk profile, but it really depends on the specifics. Factors like how well-managed your condition is, how often you do a high-risk hobby, or whether you have a family history of serious illness can all influence the cost. Plus, adopting a healthy lifestyle, quitting smoking, or losing weight could reduce your premiums over time.
Do I need to tell the insurer everything?
Yes – and it's in your best interest to be completely honest. You'll be asked about your health history, occupation, hobbies, lifestyle, even your family's medical history. It might be tempting to downplay certain things, but if your insurer finds out you withheld information, the policy could be voided. That means your loved ones might not get a payout when they need it most.
Is high-risk life insurance only for individuals?
Not at all. Partners in high-risk situations - such couples who work for the emergency services or share an adventurous hobby – can take out joint policies. These pay out once (usually on the first death) and can be more affordable than two single policies. Businesses can protect employees in high risk occupations with group schemes, which can help bring financial stability in the event of a tragedy.
How long does it take to get covered?
This varies depending on your situation. Some people get covered in just a few days, especially if their application is straightforward and they go through a specialist provider. But if you have complex medical history or high-risk factors, the insurer may need extra information – like a medical exam or report. This can stretch the process to a few weeks.
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