Life insurance protection for high risk applicants
Yes, it could be possible to secure life insurance for high risk applicants.
Just because insurers deem you to be higher risk than a standard applicant, may not mean your application will be declined.
At LifePro, we’ve over 15 years of experience in helping customers from all walks of life secure the cover they need at a suitable price.
Even if you've been declined in the past due to being considered a high risk individual, there may still be some options available to you.
Our specialist impaired risk team could assist you secure some form of cover even if you have previously been declined.
Continue reading our high risk life insurance guide as we expand on some of the risk factors insurers consider and explain what to expect when arranging life insurance as a high-risk individual…
Why LifePro for high risk life insurance?
- Whole-of-market comparison from 50+ UK insurers
- Expert advice from FCA-regulated advisors
- No extra cost - insurers pay our commission
- Fast quotes in 60 seconds
- Support throughout your policy lifetime
What is high risk life insurance?
High risk life insurance is simply another way to describe a life insurance policy that provides cover to a high risk applicant.
The life insurance policy will work in the same way as any other life insurance policy.
However, you may have to pay a higher premium if you take part in risky activities, work in a dangerous job, have a pre-existing medical condition or if any other high risk factors are present.
This means you may need to provide more information or answer more questions regarding your circumstances during the application process.
The level of risk involved with insuring you will likely vary between insurers so you’ll want to shop around to see who will offer you the most affordable quote.
Why not let LifePro help you compare multiple quotes from some top UK insurers to discover the best deal we can offer, without charging you a fee?
High risk life insurance calculator
The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.
Consider the following when calculating your life insurance needs:
- Outstanding mortgage balance
- Other debts and loans
- Income replacement for your family (typically 5-10 years of salary)
- Children's education costs
- Funeral expenses (typically £4,000-£10,000)
- Any specific financial goals for your dependents
For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).
Use our free comparison tool to get personalised quotes from 50+ UK insurers, including High Risk Life Insurance, and find the right level of cover for your needs at the best available price.
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