Life & Risk

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What is life insurance risk?


Insurance is all about risk. This is the likelihood that an insured event (in this case, death) should occur throughout the duration of the policy term.
The higher your risk, the more you will likely pay in life insurance premium — that's the amount the policyholder agrees to pay in exchange for coverage.

If you’re even just the tiniest bit familiar with insurance, you probably know that there are certain factors that may impact how much you pay for coverage. This is true for all types of insurance — car, homeowners, business, and more. For life insurance though, it seems extra personal. Insurance companies are looking at you. So, what exactly are they looking at?
Courtesy of bestow.com


What is considered high risk for life insurance?


High-risk life insurance is a class of life insurance for people who are considered an increased risk to insure. You could be considered a high risk if you have a profession or hobby that puts you in life-threatening situations. Also, insurance companies can consider you a high risk if you have below-average health.

Once classified as a high risk to insure, you may be subject to higher rates.
Courtesy of valuepenguin.com



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