Insurance agents calculate their underwriting by diving deep into the details of an applicant’s health status and lifestyle. Some details qualify an applicant as high-risk, which means they need a high-risk life insurance policy. What could qualify you as high-risk? How do you navigate that title?
At Medical Profiles, Inc., we provide paramedical exams to all insurance applicants. So we answer our patients’ questions about this and related subjects. Learn more about high-risk policies and their underwriting below.
What Is a High-Risk Life Insurance Policy?
High-risk insurance policies provide coverage to people who could die sooner than the average person. Numerous factors could lead to an untimely death, including:
- Medical history
- Hobbies
- Habits
- Career choices
When a person’s lifespan could significantly decrease due to the above factors, that person often only qualifies for high-risk policies.
A high-risk life insurance policy typically costs more and provides limited coverage or a smaller death benefit than other policies. If a life insurance company flagged you as a high-risk applicant, it considered every aspect of your life before doing so. Ultimately, the provider decided that the risks associated with your case warrant a policy that protects the company.
Are You a High-Risk Applicant?
How does someone earn the high-risk label? It can come about due to personal choices or circumstances in which the applicant had no say. If personal choices cause you to earn the high-risk designation, you can change your lifestyle habits to improve your health and increase your options. Otherwise, your primary doctor can help you take steps to improve any medical conditions labeled as high-risk.
High-Risk Habits
High-risk habits generally involve choices you make that could result in your untimely death. These habits might lead to substance abuse and health problems related to addiction. An insurance company might consider you a high-risk applicant if you:
- Use tobacco in any form
- Use nicotine in any form
- Consume alcoholic beverages
- Use illegal substances
- Abuse prescription medications
Fortunately, you can curb these habits, eventually ending them completely. Once you do, you can reapply for other policies, undergo a medical exam, and qualify for less expensive yet more comprehensive coverage.
High-Risk Careers
Your career could also place you in the high-risk arena. Sometimes, an applicant switches careers and can acquire cheaper policies. Other times, the upheaval of a career change is not worth more flexible policy options.
The careers a provider will often label as high-risk include:
- First responders, especially firefighters or police officers
- Certain types of factory workers
- Miners
- Construction workers
- Loggers
These occupations involve hazardous tasks that could result in death or injury.
High-Risk Conditions
A diagnosis from a healthcare professional can also affect your applicant label. Numerous conditions can significantly decrease a person’s lifespan. The long list of health conditions includes:
- Heart or circulatory conditions
- Chronic respiratory conditions
- Cancer
- Dementia
- Epilepsy
- HIV/AIDS
Even without a diagnosis, suffering from a life-threatening medical event could also require an applicant to pursue a high-risk policy. Heart attacks, strokes, and seizures are all strong indicators of underlying conditions.
High-Risk Hobbies
Do you enjoy adrenaline-inducing pastimes like skydiving or auto racing? If so, you might well fall under the high-risk label for your adventurous nature. Insurance providers understandably show caution when underwriting people who engage in dangerous sports. You might have to drop your risky hobby to acquire lower premiums.
Medical Profiles, Inc. Fits Around Your Busy Schedule
Whether you want to obtain a fresh insurance policy or have your high-risk life insurance policy reconsidered, you’ll need a thorough medical exam from a qualified provider. At Medical Profiles, Inc., our team fits exam appointments around your busy schedule with mobile exam options. Call 832-251-3926 to set up an appointment.
