Factors that can keep you from getting life insurance.
Life insurance can provide a financial safety net for your loved ones when you are no longer around. Purchasing a policy is an important part of protecting your family and planning future finances. However, some people may struggle to get approved for a policy. We take a look at the common reasons why this may be the case.
- You’re a thrill-seeker
Accidents of all kinds soar into the hundreds of thousands every year in America. If you’ve got an adventurous outlook and you like to participate in dangerous hobbies like sky-diving, rock climbing or white-water rafting, you may find that no insurer will jump at the chance of insuring you. The riskier your lifestyle, the more you may struggle to obtain coverage.
- You regularly travel overseas
If you routinely travel abroad, a life insurance company may refuse to accept your application. Insurers sometimes assign risk levels to different countries based on the likelihood that you could contract a serious illness there. If you are able to get approved, you may face higher premiums.
- You have a poor driving history
That’s right – life insurers are concerned with your driving record. If you have a history of accidents that suggest you’re a reckless driver, then you may not be able to secure life insurance coverage.
If you are turned down for life insurance, you still have some options. You can ask if your employer offers life insurance as part of its benefits package or you can look into guaranteed plans that don’t require medical exams.
To learn more about how best to protect your family’s future, contact the team at Bell Black Insurance. We can help you tend to your life insurance needs so that you get the best value for your money. We serve Idaho Falls, Island Park, Driggs, Victor, Swan Valley, Ashton, and the neighboring communities in Idaho, as well as Jackson and Star Valley in Wyoming.