It can be difficult to find insurance if you are classified as non-standard because of your sport or hobby which is where Sports Financial which is an expert at dealing with Life insurance for high risk people. You may already know that insurers will vary their rates and premiums for people with special requirements from an underwriting perspective which can result in significant differences in the monthly premiums that you will pay. An expert in dealing with Life insurance for high risk people will have a very good understanding of each insurance providers criteria which means that companies such as Sports Financial will be able to identify which insurers would offer the most favourable rates.
How does Life insurance for high risk people work?
The first thing to remember about Life insurance for high risk people is that you must disclose all information about your circumstances to your adviser to give them enough information to give you the right advice. If you fail to disclose information on your application for Life insurance for high risk people then you may find that there could be an issue at the point of claim which is a major issue.
There are a number of key factors which will have an impact on the premiums that you will pay for Life insurance for high risk people which includes:
- Sports/Hobbies
- Occupation
- Health
- Medical history
If you are classified as high risk due to any of the criteria above then you may find that it will have an impact on the premiums that you will pay or on the cover that is available to you. This is where a specialist company like Sports Financial will be able to help with your application for Life insurance for high risk people as we know which insurers consider these elements more high risk than others.
How much will I pay for Life insurance for high risk people?
It is important to understand that you must firstly begin with your standard premiums before considering whether there is an additional loading/rating for your cover based on your circumstances. Generally if your sport or hobby is considered to be low to moderate risk then you may pay the same premiums for Life insurance for high risk people as someone who is considered to be lower risk.
You may find that if you take part in a sport at a competitive level for example that you may end up with a slight or moderate increase in your Life insurance for high risk people premiums. The most common way for premiums to increase for Life insurance for high risk people is based on a percentage of the original or standard premium which will be calculated based on your circumstances and which insurer you are applying to.
What types of cover are available for high risk people?
Generally the easiest and most flexible in terms of underwriting will be Life insurance for high risk people, whereas other types of cover such as critical illness and income protection could be slightly more difficult. Often you should be able to get a critical illness cover policy in most cases and you may find that income protection cover could be slightly more difficult depending on your circumstances.
Life insurance for high risk people will always be cheaper premiums than critical illness cover and income protection purely based on the levels of risk of claim for these types pf policies. If you take part in sports which increase your risk of injury such as broken bones, factures and other musculoskeletal issues then your premiums may increase to reflect that.
If you need more advice or help to get a quote for Life insurance for high risk people then you can contact one of our team of experts today on 0345 565 0935.