What Is High Risk Insurance?
It can certainly be argued that a high risk life insurance company that is willing to insure the life of someone who
has, for instance, a history of melanoma is taking on a high risk compared to insuring someone with no
history of cancer. But remember that problematic health history is what impaired risk life insurance is
all about. Risk Life Insurance also specializes in high risk life insurance which is defined as insurance for
someone who is engaging in high risk activity, whether for work or fun.
Like impaired risk insurance companies often disagree over how much risk an activity actually has.
A great example of this would be with private pilots. Most life insurance companies are only willing
to insure a private pilot if the insured is willing to exclude aviation caused death from the coverage.
Then there are a group who are willing to cover your life even if death occurs while you are flying your
own plane, but they want to charge what’s called a flat extra premium for what they perceive as the
increased risk. Then there are the companies we work with who are willing to cover you completely with
their best rates as long as you have experience and fly enough hours to remain proficient.
So, some high risk is really a company’s perception of risk. Scuba diving is another activity that
companies don’t agree on. The same goes with rock and mountain climbing. Just like impaired risk, the
guideline for most companies says rock climbing equals decline. Other companies want to know how
much experience you have, what equipment you use and the difficulty rating of your average climb and
then they weigh the actual risk rather than having a blanket answer for all climbers.
Risk Life can get high risk life insurance that all traditional life insurance companies will avoid such as civilian
contractors in war zones, offshore oil platform workers, missionaries, loggers, commercial fishermen
and pilots that fly heavy lift helicopters or wildfire slurry planes. There are only a few companies in the
world that will cover these types of risks at fair prices and we have chosen Lloyds of London as our go
to company. They understand these types of risks, don’t shy away from it and consistently deliver the
product our customers need at a price they can afford.
There is a misperception that high risk life insurance is simply unaffordable and that might be the
case through some companies, but Risk Life employs the same techniques of staying in tune with the
industry and always shopping a case before recommending a product to a client. We know how to
find the company that understands your activity and knows that just like a diabetic who works hard at
maintaining their health, you take your activity seriously and present an acceptable risk.
If your activity has been a roadblock to life insurance the chances are that the problem lies with the
agent you worked with and their lack of knowledge more than you and the activity.