High Risk Life Insurance: All You Need To Know

Medical conditions can affect your general health, and therefore require consistent treatment from your healthcare provider. Since many health conditions will increase a person’s likelihood of premature death, insurance providers take them into consideration when providing quotes for premiums. The following conditions are widely considered high risk:

• Cancer is a high risk condition, according to most insurance providers. It can be extremely difficult to find life insurance while you undergo cancer treatment. However, a couple of years after the initial diagnosis, many Canadians can find affordable life insurance. Each insurance provider will treat cancer diagnoses differently. 
• Heart disease not only affects the heart but can have dire consequences for the rest of your body, including health problems like stroke, heart attack, and congestive heart failure. If you have been diagnosed with heart disease or suffered from any of the associated health problems, you will need high risk life insurance. 
• Strokes and heart attacks are considered significant medical events. The life insurance coverage you receive depends on the severity of the event, your recuperation process, and how healthy you are after you recover. 
• Chronic diseases generally affect you for a year or more and necessitate consistent medical treatment. They may make it difficult or impossible to manage daily life. Because of this, insurance companies consider various chronic diseases to be high risk since they pose a significant threat to your quality of life.   

Certain occupations create more dangerous conditions and risk of injuries. Even when everyone is careful on the job site, mistakes or unpredictable occurrences can take place and cause death or life-threatening injuries. Insurance providers may assess you as a high risk applicant if you work in these fields:

• Construction workers are at risk for a variety of injuries related to their work. Someone handling heavy equipment and tools could drop or misuse them, causing injury to themselves or others. Debris can fall from high places and hit someone on the head. This category can include roofers, window washers, and other jobs related to maintaining buildings. 
• Fishers at commercial seafood sellers work long hours in unpredictable conditions for days or even weeks at a time. They traverse stormy weather and churning waters all while handling heavy equipment. This puts them at an increased risk of falling off of the boat, drowning, or being crushed by the equipment on the boat if someone slips up.
• Agricultural workers like farmers and ranchers may require high risk life insurance. This group deals with regular exposure to pesticides, dangerous machinery, extreme elements, and sometimes animals — all of which contribute to a high injury and mortality rate. 
• Miners often come into contact with dangers like collapsing mines and toxic dust particles. These factors put them at risk for death at their job site and lung cancer after several years of exposure.

Everyone needs a hobby, but some hobbies are riskier than others. When you regularly pursue a dangerous hobby, you’ll need to include that information in your insurance application. This ensures that you get the right coverage in the event you experience an injury or a life-threatening situation. Some high-risk hobbies include:

• Skydiving, parachuting, hang gliding, and bungee jumping. Trying any of these thrills a couple of times while on vacation will not likely require high risk life insurance. However, engaging in these activities consistently will put you at greater risk of falling from lethal heights. Faulty equipment or making mistakes can cost someone their life during these adrenaline rushes. 
• Scuba diving. Some occupations require scuba diving, but most of the time, people go scuba diving for fun. A few of the risks involved, such as faulty air tanks, losing track of time or sense of direction, or coming into contact with the wrong creature, will make it more likely that a diver experiences fatal injuries or situations than the average person. 
• Racing certain vehicles like boats, cars, or bicycles. Collisions with barriers or other riders, loss of traction, and speed all make racing a dangerous hobby. Routine daily commutes can already be dangerous enough. Adding competition and speed to the mix increases injuries and fatalities. 

1. Go shopping no matter what your risk factors are or how you are currently treating them. Many providers define similar factors as high risk, but that doesn’t mean they will all look the same or provide the same rates. 
2. Keep managing your health conditions appropriately. As you continue with recommended treatment plans, more life insurance options will become available with time. The amount of time that passes after a significant medical event and how well you do during treatment plays a big role in the premiums available. 
3. Educate yourself further on your options and what they provide as you shop. Once you understand what each term means and how it affects your coverage, you make the best choice for you and your family. 
4. Work with an insurance broker that makes comparing life insurance quotes easy. With Alliance income, you can compare offers from high risk life insurance providers at the touch of a button.