Term Life Insurance Disqualification Factors
Buying term life insurance can provide you with a way to make sure that your family is taken care of when you die. While you may be interested in buying a term life insurance policy, you may not qualify for one according to the standards of the insurance company. There are a number of factors that could disqualify you from coverage.
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Dangerous Activities
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Some people cannot get regular term life insurance because of the types of activities that they engage in. If you regularly engage in dangerous activities such as skydiving or bungee jumping, you may not be able to get term life insurance. You may not even be able to get life insurance if your job is considered to be very dangerous. For example, if you work in a steel mill or in a coal mine, you might not be able to qualify for regular coverage.
Medical Conditions
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Another reason that you may not be able to qualify for term life insurance is if you have a serious medical condition. For example, if you are overweight and have extremely high blood pressure or cholesterol, a life insurance company may not want to extend benefits to you. If you have Alzheimer's or some other serious condition that leads to further complications, they may preclude you from being covered under a term life insurance policy. You will generally have to pass a medical exam before you can qualify.
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Tobacco Use
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If you use tobacco regularly, you might not be able to get life insurance. If you do qualify for life insurance while using tobacco, you will generally have to pay a much higher premium than someone who does not use tobacco. This includes smoking or using chewing tobacco. Individuals who use tobacco are much more likely to develop cancer, emphysema or other serious medical conditions sooner than those who do not use it. Many insurance companies do not want to deal with people who have this habit.
Other Factors
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Besides these main factors, the insurance company will also look at several other items. For example, if you regularly engage in foreign travel, your life insurance company may not want to extend benefits to you. If you drink alcohol excessively, you might not be able to qualify for benefits since you shorten your life expectancy by doing so. The insurance company will also look at whether you have any other types of life insurance policies already. If you already have life insurance, you may not need an additional policy.
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