What is a high-risk life insurance policy?
A high-risk life insurance policy provides coverage to someone who poses a relatively high risk to insure.
If you have a complex health condition, practice a hobby that might affect your health, or work an occupation that might put you in danger, you have greater chances to be considered high-risk for insurance purposes.
What factors determine life insurance risk?
In addition to your health, which is the most important risk factor considered by insurers, your risk can also increase based on your habits, hobbies, and occupation.
Habits: Some habits — like smoking or the use of controlled substances — can increase your mortality risk, especially if they affect your overall health.
Hobbies: Certain hobbies that statistically put you in more danger, such as scuba diving or flying a private plane, are considered high risk by many insurers.
Occupation: Generally speaking, any occupation that is conducted in an environment considered safe, like an office, won’t affect your life insurance. But some professions that are considered hazardous — like firefighting — can have an impact on your life insurance options.
None of these factors are considered in a vacuum when determining your insurance risk. The life insurance company will take a comprehensive look at your health and lifestyle while evaluating your application.
How do insurance companies assess your insurance risk?
When you apply for life insurance, the agent who reviews your case will carefully assess your risk and assign you a risk class. This risk class will determine the rate that you’re eligible for, and ultimately, how much you pay for life insurance.
Here are the six risk classifications used by most insurers, from the most affordable to the most expensive:
Preferred Plus offers the most affordable premiums. It’s usually assigned to people who have no or one well-controlled or resolved minor health condition and no family history of conditions like heart disease or cancer. To get a Preferred Plus rating, you’ll also probably have a safe job and no dangerous hobbies.
Preferred offers the second-lowest premiums. It’s usually assigned to people with one or two well-controlled or resolved minor conditions and no family history of conditions like heart disease or cancer. If you receive a Preferred rating, you may also have a slightly risky job or hobby like scuba diving to depths less than 100 feet.
Standard Plus offers the third-lowest premiums. It’s usually assigned to people who may have well-controlled or resolved mild-to-moderate conditions and who may have one death from heart disease or cancer in their immediate family. To receive a Standard Plus health rating, the insurer may consider you to have a somewhat dangerous job or hobby — for example, outdoor rock climbing.
Standard offers the fourth-lowest premiums. It’s usually assigned to people with well-controlled or resolved moderate health conditions and who may have more than one immediate family member who died of heart disease or cancer. If you receive a Standard health rating, you may also have a dangerous job or participate regularly in a risky hobby. An example would be if you pilot planes recreationally.
Substandard or Table Ratings are assigned to applicants with more serious health conditions and are divided into 10 sub ratings — table 1 has the lowest premiums and table 10 the highest. If you receive a Substandard rating, the insurer may have determined you to have a dangerous job or hobby like skydiving.
Tobacco/Smoker ratings are assigned to people who currently use tobacco or nicotine products or have in the past 12 months. These ratings can also be applied to frequent marijuana users. There are usually three categories for people in this rating: Preferred, Standard, and Table Ratings.
What habits are considered high-risk for insurance purposes?
Most commonly, any habits that may increase your chances of dying while the policy is in effect may affect your eligibility for life insurance.
These may include:
Chewing tobacco
Excessive traffic violations or reckless driving history
The insurance company will verify the information you provide using the medical information bureau (MIB) and other sources, so it’s important to be accurate and thorough when discussing your habits with a life insurance agent.
How can your motor vehicle record impact your life insurance rates?
Your driving history can impact your insurability if it shows a pattern of reckless driving that might increase your insurance risk. When you apply for life insurance, the insurance company will request a copy of your motor vehicle report (MVR) to get a picture of your driving habits.
If the MVR shows recent violations, like multiple speeding tickets or recent DUIs, this could increase how much you pay for life insurance.
What hobbies are considered high-risk for life insurance?
Any hobby that might increase your chances of dying while practicing it may be deemed high-risk by insurance companies.
Some of the more common high-risk hobbies include:
Skydiving
Rock climbing
Aviation
Practicing a high-risk hobby might not prevent you from being approved for traditional life insurance. However, depending on the details of your hobby, the insurance company may need to approve your policy at a higher cost or with a flat extra fee.
→ Learn more about the types of deaths not covered by life insurance
What jobs may be considered high-risk by life insurance companies?
There were 5,190 work-related fatalities in the United States in 2021. [1] About half of those deaths were concentrated in three sectors: construction, transportation and warehousing, and agriculture, forestry, fishing and hunting. [2]
“Hazardous” jobs could include any job that potentially increases your chance of dying, including: diving, mining, or high-rise construction work. “Some occupations are riskier than others,” said Erik Johansson, life insurance sales agent at Policygenius. For example, private pilots, scuba divers, oil rig workers, and even some construction workers.
“If the insurance company determines that you have a higher risk based on your occupation,” Johansson said, “you could pay more for your life insurance.”
But insurers could also consider you high-risk for other reasons related to your job.
For example, doctors or nurses who travel to countries outside of the U.S. as medical missionaries could have limited coverage options. And people working in a marijuana dispensary will likely get declined for life insurance coverage because the federal government still considers cannabis an illegal substance.
“If your job happens to be dangerous or involve high risk activities like working from great heights, around toxic materials, or high pressure machinery, your rate for life insurance could be higher” too, said Robin Flournoy, life insurance sales agent at Policygenius.
These are some of the occupations considered high-risk by most life insurance companies.
Active duty military
Life insurance companies are likely to deem military personnel high-risk if they’re deployed to a country with a State Department-issued warning or can’t disclose the location of deployment, if they’re likely to see combat, or are a member of Special Forces, Rangers, SEALS, Marine Force Recon, Marine Raiders, Delta Force, Air Force Pararescuer, or a similar unit.
CEOs & CFOs
If you’re a CEO or CFO conducting international business and you spend more than six months out of the year outside the United States or Canada, you may have trouble qualifying for a life insurance policy with American companies. Depending on the countries you visit for work, your coverage options might also be limited, even if you’re just there for a short time.
Commercial pilots
Some insurers have stricter guidelines for commercial pilots because they view their profession as an increased risk. If you’re a commercial pilot applying for life insurance, insurers will want to know, for example, if you fly internationally or domestically, and if you also fly recreationally, to assess your level of insurance risk.
Delivery drivers
While being a delivery driver alone won’t limit your options for life insurance coverage or increase your rates, some related activities might. If you deliver any dangerous or hazardous materials, this could potentially impact your ability to get affordable life insurance rates.
Dentists
Being a dentist alone isn’t considered high-risk by life insurance companies, but some activities related to the dental profession might. If you’re a dentist who travels for work to some countries outside of the U.S. or are a medical missionary, your life insurance coverage options might be limited. And any self-prescribed medication you’ve taken could also impact your eligibility, even if it’s not representative of your overall health.
Divers
Insurance companies assess your risk as a scuba diver based on how often you dive, where you dive, and the types of dives you perform. If you’re a rescue or salvage diver, or dive professionally for any other reason, insurers might consider your job high-risk and offer you higher premiums.
Doctors
Similar to dentists, doctors aren’t inherently deemed a high insurance risk by insurers, but certain activities related to the medical profession might be. Traveling for work or volunteerism to certain countries, or having a prescription history that doesn’t fully represent your overall health are all scenarios that could limit your coverage options.
Firefighters and first responders
Certain types of first responders, like wildfire firefighters or firefighters whose jobs involve participating in higher-risk activities like smoke jumping, are often considered high-risk by life insurance companies. If you’re a firefighter or first responder applying for life insurance, be ready to answer additional questions related to the type of risk you’re exposed to due to your job.
Lawyers
Similar to other occupations, attorneys aren't intrinsically considered high-risk by insurers. But if you're a lawyer and spend more than six months out of the year outside the U.S. for work or otherwise, you may not qualify for a life insurance policy with some American companies. And if you work for an international law firm or organization or otherwise and frequently travel outside the U.S., you’ll have to time your life insurance application around your travel plans.
Marijuana industry jobs
While using marijuana products, either recreationally or medically, doesn’t disqualify you from being able to get a life insurance policy, working in the cannabis industry is considered by insurers a high-risk activity from the legal standpoint and might limit your coverage options.
“Because the federal government views the cannabis industry as illegal activity, if you earn an income from that industry, it is highly unlikely you will be able to get life insurance coverage,” said John Harris, life insurance senior associate at Policygenius.
Nurses
The nursing profession isn’t considered high-risk by life insurance companies, but, similar to doctors and dentists, certain activities associated with it could limit your coverage options. If you’re a nurse who travels to certain countries for work or as a medical missionary, or you have a prescription medication in your record that isn’t fully representative of your overall health, your coverage options could be limited.
Oil refinery workers
If you work at an oil refinery, you’ll likely be considered high-risk by an insurance company. This is because oil refineries usually house hazardous chemicals that create a potentially dangerous environment. These chemicals are often flammable, and can cause fires or explosions. Prolonged exposure to these chemicals is also statically correlated with poor health conditions such as cancer, heart conditions, and blood disorders.
Police officers
Some people who work in law enforcement might be deemed a higher insurance risk than others. If you’re a municipal police officer, your life insurance rates probably won’t be drastically impacted by your profession. But if you have a specialty that involves a higher degree of risk — for example, if you do undercover work or are part of a special weapons and tactics (SWAT) team — your premiums might be higher.
Private pilots
Most insurers have stricter guidelines for aviation-related occupations. If you’re a private pilot applying for life insurance, insurers might deem you a high insurance risk. If you have a history of aviation accidents, or fly regularly to remote locations, you might have to pay higher premiums or have limited coverage options.
Professional athletes and runners
Insurance companies don’t consider all professional athletic activities the same. If you’re an MMA fighter, for example, the insurance companies will consider you a higher risk than someone who golfs professionally. Insurers usually ask professional athletes a number of questions about the physical demands of their profession in order to assess their level of insurance risk.
Ranchers & farm workers
Though most ranchers and farm workers won’t have to supply much more information about their profession when applying for life insurance, there are some unique situations ranchers and farmworkers may need to consider. For example, you may need to confirm that you follow safety guidelines if you work with dangerous equipment. And because you need to verify your income to apply for life insurance, insurers may require additional documentation if you receive any of your income in cash.
Veterinarians
Similar to other healthcare professions, veterinarians can be deemed high-risk by certain insurers based on some activities related to their occupation. If you’re a vet who travels constantly to some countries outside of the U.S. that might be flagged by the Department of State with a “Do Not Travel” advisory, your coverage options might be limited. Each insurer has its own guidelines to assess life insurance risk. Policy shopping across multiple companies can help you find the right coverage for you at the most affordable rate.
What is the best type of life insurance for high-risk jobs?
If you have a high-risk job, it’s important to get life insurance to supplement whatever coverage your employer may be offering you. The best type of life insurance for you will depend on your coverage needs and your budget.
Term life insurance is one of the most affordable life insurance coverage options on the market, only lasts for a set term, and doesn’t come with any complex tax restrictions or regulations. It’s the best option for most people looking to protect their income and provide their family with a financial safety net to cover any debts — including a mortgage or any other types of personal loans. However, if you’re considered high-risk by the insurer, you may not be eligible for term life insurance at an affordable rate. This can happen if you have a particularly dangerous job, like a war journalist, or you participate in a particularly dangerous hobby, like deep sea diving. In these cases, whole life insurance may be a better option for you.
Whole life insurance is a type of permanent life insurance that doesn’t expire and provides coverage for your entire life and has a cash value component that earns interest. It’s the best option for people looking to use life insurance to diversify their investment portfolio and people with long-term financial obligations. Due to these reasons, whole life is significantly more expensive than a comparable term life policy.
Guaranteed issue life insurance can be a good alternative for people who need insurance to help cover end-of-life expenses, like a funeral, and might not be approved for traditional term or whole life insurance due to health or other risk factors. Guaranteed issue policies don’t expire and usually offer a small amount of coverage, up to $25,000. While they’re more expensive than traditional life insurance, guaranteed issue policies offer near-certain approval.
What are the best life insurance companies for high-risk applicants?
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
2024 Policygenius award winner
Prudential
4.1
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
Best overall high-risk life insurance: Prudential
Our analysis found that Prudential is the most flexible life insurance company when it comes to any hazards that may be part of your day-to-day life. In most cases, whether it’s a habit, hobby, or occupation, Prudential is more likely to approve your life insurance application than other insurers.
Best life insurance for high-risk activities: Prudential
According to our analysis, Prudential offers the best risk class for most common high-risk activities, including skydiving, rock climbing, scuba diving, and recreational aviation.
Protective
4.8
30+ year terms
Why we chose it
Protective has some of the most affordable and comprehensive life insurance options available.
Pros and cons
Pros
Competitive rates for all ages and health classifications
Good for people with mental health conditions, kidney conditions, and some cancers, including prostate cancer
Term lengths up to 40 years
Cons
Not available in New York
Not great for people who have had bankruptcy, marijuana users, or visa holders
Limited no-medical-exam policy options
Most affordable high-risk life insurance: Protective
We found that Protective offers an affordable option for most hazardous activities, and consistently offers one of the cheapest options for term life insurance.
Transamerica
4.6
No-medical-exam option
Why we chose it
Transamerica is one of the oldest and largest life insurance companies, with over 12 million active accounts today. It offers affordable rates for almost every age, and you can even skip the medical exam if you fall under a certain age or coverage amount.
Pros and cons
Pros
Competitive rates for term life insurance
No-medical-exam available for qualifying applicants, including smokers and people between 60 and 70, which is rare
One of the fastest turnaround times in the industry for traditionally underwritten term policies
Cons
Term life not available in New York
Not a good option for people with a history of cancer, alcohol abuse, or asthma
Best life insurance for high-risk occupations: Transamerica
Our analysis found that people working in hazardous occupations, including wildfire firefighter, active duty military, and oil refinery work, will receive some of the lowest rates on the market from Transamerica. The company will also approve applications from people in hazardous jobs at affordable rates that other insurers will directly decline.
Mutual of Omaha
4.5
No-medical-exam option
Why we chose it
Mutual of Omaha is a reputable company that offers a variety of life insurance products — including a no-medical-exam option — so that you can select the type of life insurance that best suits your needs.
Pros and cons
Pros
No-medical-exam options for older applicants
Strong financial and customer ratings
Cons
Policies are more expensive than average
Slow turnaround time
Best guaranteed issue life insurance for high-risk applicants: Mutual of Omaha
Mutual of Omaha offers some of the cheapest guaranteed issue policies on the market for people who might not be approved for traditional life insurance due to their insurance risk.
Comparing the best high-risk life insurance companies
Company | Policygenius rating | Best for | AM Best rating | |
4.1 /5 ★ | Overall high-risk | A+ | ||
4.8/5 ★ | Affordability | A+ | ||
4.6/5 ★ | High-risk occupation | A | ||
4.5/5 ★ | Guaranteed issue life insurance | A+ |
How to buy life insurance if you’re a high-risk applicant
Shopping for life insurance is fairly simple, even if you’re a high-risk applicant. During the application process, you might have to provide additional information about any occupation, activity, hobby, or health condition that might increase your insurance risk.
Connect with an agent. They’ll ask you about your health, habits, hobbies, and occupation. They’ll also help you compare insurance companies to determine which one will be best for you. If you’re a high-risk applicant, working with an independent broker who can shop around for you is crucial to getting the best policy to meet your needs.
Fill out the application with your agent. You’ll submit personal identifying information, your health history, and income. You’ll also share details about your lifestyle to help the insurer accurately assess your risk.
Next, you’ll take a medical exam. If the insurer requires a medical exam with your application, they’ll work with you to set it up. The medical exam is also paid for by the insurer — even if you don’t end up getting a policy. A medical exam is just like getting an annual physical, and is meant to confirm your general health status.
Once the insurer has all this information, wait for it to review your application. Your agent will let you know when the insurance company finishes reviewing your policy, which can take up to a couple of weeks. The insurer will then make you an official offer of coverage.
You’ll accept your offer, sign the final paperwork, and pay your first premium. Once you complete those last three steps, your coverage will go into effect.
