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6 reasons you would get turned down for life insurance

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6 reasons you would get turned down for life insurance -

The most common reason that people fell for coverage of life insurance is because " they have a specific health problem, but it is not the only reason. I would cover the top ones and you know what your options might be.

1. You have a specific health problem. For example, someone who has cancer or who has had a recent heart attack could be reduced to a traditional life insurance policy. There is, however, people who are turned down for life insurance for health reasons because they applied the wrong insurance company.

Not every life insurance company deals with life insurance high risk, so if you have a health condition such as diabetes, I recommend that you work with an insurance agent high-risk life that can help to understand what the best plan of action is approved you for life insurance. If you can not get approved for a traditional policy, there may be alternatives, such as a staggered death benefit policy.

If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you.

2. You participate in high risk activities. While most insurance companies insure divers, for example, depending on the type of diving you do (water free vs cave diving), the number of times you dive a year when you dive and how deep you dive.

If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you. actively deployed military may struggle to get approved for insurance, unless you work with specific insurance companies.

3. There are specific financial reasons. to get approved for life insurance, there must be a financial justification. For example, a person earning $ 25,000 per year would probably not qualify for a $ 1,000,000 life insurance policy, since you can generally get coverage from around 10-30 times your annual income, depending on your age. If you do not have an income, but your spouse does, you can usually get as much coverage as your spouse. If you have no income and can not financially justify the need for life insurance, you may get declined for a life insurance policy.

4. You have declared bankruptcy. If you have filed a Chapter 7 bankruptcy, you will typically get declined for coverage until the proceedings were dismissed for at least 12 months. If, however, you're in the middle of a procedure or 11.12 Chapter 13 bankruptcy, you may be able to qualify for coverage if you make regular debt payments.

5. You had a DUI (driving under the influence). If you have had more than three DUIs in the last 10 years, each insurance company deny you. However, if you have one or two DUIs in the last 10 years, some insurance companies refuse you while others may not. If you have been denied due to a DUI, it is possible that you have applied with the insurance company bad.

If you abuse drugs or alcohol now, you will have denied life insurance. If however you have been drug free for three years or more, or have stopped alcohol abuse for over two years, you should be able to get approved for a life insurance policy.

6. You have a criminal record. The difference between an approval and a fall is generally dependent on a couple of factors. First, how long it has been since you have been convicted, and the second type of conviction that he was. If you have had several crimes, you'll probably decreased. If, however, you had a crime, or one or two offenses, you may be able to get approved for coverage, depending on how long ago you completed probation.

If you are in any of the above situations, in collaboration with a specialist in high-risk life insurance is the key to your better chance of getting approved for insurance life.

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