Will I be able to get life insurance?
The answer to this question really depends on you. People are different, and so are life insurance policies. There are certain exclusions on who qualifies for life insurance - however these tend to vary depending on the insurer.
No matter what your circumstances are, it is likely that there is a policy out there that will cover you. This can be reassuring, considering the support that the right life insurance could give your family if you die.
Many policies have certain restrictions that you should research before you apply for the policy. These exclusions commonly include:
Age
To take out a life insurance policy you usually must be aged 18 or above. There are also upper limits on many life insurance policies, but these can vary.
Occupation
If you have a job that is considered to be dangerous, some insurers may not cover you. A couple of examples of dangerous jobs are if you work on an oil rig or in the emergency services. If you shop around you may still be able to find an insurer willing to cover you, perhaps even at a relatively cheap price.
Terminal illness
If you have already been diagnosed with a terminal illness, the majority of insurers will not cover you. The insurer would be almost guaranteed to have to pay out if they insure a person who is already terminally ill.
What could prevent a payout?
If you are able to purchase a life insurance policy at a price suitable for you, make sure you familiarise yourself with the different terms and conditions. There may be certain exclusions that could stop your family from receiving the lump sum. Certain causes of death are sometimes not covered - for example:
Drug or alcohol abuse
If you die because of drug abuse (prescription drugs or otherwise) or drinking too much alcohol, this is considered self-inflicted.
Extreme sports
If you regularly take part in extreme sports, then you may not be covered for death arising from this activity. However, if the event was a one-off or you very occasionally take part in extreme sports you may still be covered. There are some specialist policies that will cover you for extreme sports, usually at a higher cost.
Let Think Insure help you get a great deal on your car, home or life insurance
Call us for a quote on 0800 195 2914.
Or fill in your name and number and we'll call you back for free.
Related resources
- Facts about critical illness cover
- What is term life assurance?
- What type of life insurance is best for young people?
- When will life insurance not pay out?
- Critical illness explained?
- Will my life insurance assessment be confidential?
- What is joint life insurance?
- Will sports affect my life insurance policy?
- What is the difference between life insurance and term life insurance?
- Who can apply for life insurance?
Tags: insurance, life insurance, policy, legal, terms and conditions