In order to buy life insurance you must first apply for a policy and then the insurance company determines if you qualify for coverage and they are willing to insure you.
When applying for life insurance you answer some questions about your health and lifestyle which help the insurance company decide if you are a good risk to insure for life insurance.
That means your age and health will impact your acceptance for life insurance.
What are some common reasons people are not approved for life insurance?
Among the leading causes for being declined when you apply for life insurance are:
1. Overweight or Obese
2. Too Old - Some insurers may not insure people over a certain age, such as, 75 or 80.
3. Health Problems - Chronic health issues, such as, severe diabetes, emphysema, cancer, etc.
4. Smoker - Depending on your age, health, and how long you have smoked, you may or may not qualify.
5. Illegal Drugs - If you test positive for illegal drugs you will likely be declined.
6. High Premiums - Some life insurance policies may charge too high a premium for your coverage, which you are unable to afford.
7. Declined for Life Insurance Before - Some insurers may not insure you for life insurance if you have already been declined, or if you have lied on an application for life insurance.
However, if you are declined ofr life insurance there are life insurance companies that may insure high risk people for life insurance.
But, the amount of life insurance available will be small, and the premium you pay will be much higher than for a standard-rated applicant.
Here's how you can compare life insurance rates and plans among several leading life insurance companies and find out if you qualify for life insurance protection.