Life insurance is the most important coverage for individuals. Unfortunately, there are still many insurance myths that make this protection product ignored. Life insurance is one of the most important insurance that must be owned to avoid financial losses from the risk of death. Unfortunately, many insurance myths is circulating that makes people ignores insurance. Death is certain and unavoidable when the time has come, even if it is unknown as to when and what the cause is. However, suppose the impact of the losses is not anticipated early on, death can cause prolonged disaster for the family left behind. The loss of someone you dearly loved, can make the family mentally shaken. Further...
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If one has ever went to an insurance company to buy insurance, then they might know about the numerous questions they ask related to the age, health, occupation, and hobby of the applicant. The purpose behind those questions is to find out the best insurance policy suited for that person. If one notices that their insurance charges are higher than normal, then it means their insurance provider has qualified them as a high-risk individual. An interviewed was done with Laura Adams, Insurance & Finance Analyst at Clearsurance, to get to know more about higher risk life insurance policies and what makes one qualify for them. Laura Adams is one of the nation’s leading finance,...
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The MarketWatch News Department was not involved in the creation of this content. Apr 28, 2022 (AB Digital via COMTEX) -- If one has ever went to an insurance company to buy insurance, then they might know about the numerous questions they ask related to the age, health, occupation, and hobby of the applicant. The purpose behind those questions is to find out the best insurance policy suited for that person. If one notices that their insurance charges are higher than normal, then it means their insurance provider has qualified them as a high-risk individual. An interviewed was done with Laura Adams, Insurance...
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The Need for High Risk Life Insurance Some people run a markedly-higher risk than others of dying before reaching their statistical life expectancy. There are two basic reasons for belonging to this high-risk class. One reason is participation in a high-risk occupation or hobby. Examples include taxi-cab driving, law enforcement, firefighting, commercial fishing, vehicle racing, piloting private aircraft, scuba diving, mountain or rock climbing, and whitewater rafting. Participants in these activities run the risk of dying prematurely through accidental or deliberate means. The second reason is possession of a high-risk health condition. Examples include cancer, diabetes, heart disease,...
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Life insurance and high risk occupations When you have a dangerous occupation there’s a much higher risk of accidental death, which can make finding a suitable and affordable life insurance policy a challenge for certain workers. Here’s what you should know about life insurance for high risk jobs including how to get the cheapest quotes from the best life insurers in the UK. What questions are asked by life insurers for dangerous occupations? How much does life insurance cost if you have a high risk job? What occupations are classed as high risk for life insurance? What are the best high risk life insurance companies UK? What is high risk life insurance? High risk life...
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The life insurance policy each person is eligible for is dependent on one essential condition: risk. From the provider’s point of view, their job is to assess what level of risk you pose as a policy holder, and decide upon policy terms from there. Many different factors can cause providers to define your case as high risk. Whether you have some form of pre-existing medical condition, the nature and level of hazard in your occupation, and whether you engage in risky sports. If you’re wondering whether anything in your life could cause you to be considered high risk and how that might affect your life insurance options, read on to find out more. Pre-existing medical conditions Undoubtedly...
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While exact details will vary from company to company, certain activities that increase your chances of death can cause you to pay more for life insurance or make you uninsurable. Skydiving, scuba diving, aviation, and logging all carry high amounts of risk that some life insurance companies may choose not to cover. If you engage in hobbies, jobs, or activities considered risky by insurance companies, you’d be right to assume a potentially enormous insurance premium. However, if you’re not an experienced life insurance shopper, you’re likely to overestimate the cost of insurance by a factor of three. For instance, San Francisco resident Mitchell Fox was quoted a rate nine times more...
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Insurance is based on risk, so the reality that your age, health factors and hobbies play a larger part in determining your monthly premium. If you have a passion for extreme sports, or you're a smoker, it stands to reason that you could be placed in a 'higher risk'' group for life insurance. However, every application is different, so in this article, we'll take you through the factors that help us decide whether to issue life insurance for 'higher risk' individuals. What counts as ‘high risk’ life insurance? When you apply for life insurance with legal & General, you will be asked to complete an application form and possibly a further specific questionnaire, to allow you...
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Buying life insurance for America’s most dangerous jobs Not all jobs are created equal. The U.S. Bureau of Labor Statistics rates occupations based on the rate of accidents and fatal on-the-job injuries, highlighting the most dangerous jobs in the country. One of the top most dangerous jobs in the country is fishing. Fishermen run a high risk for death; for instance, they can be swept overboard by high waves. Charles King worked in Alaska crab and halibut fisheries for more than two dozen years. Almost everyone who's worked in the fishing business knows someone who's fallen overboard or been on a boat that sank. With such a risky profession, you might think it'd be tough to get life...
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More than half (52%) of POC say they believe they have plenty of time to save for retirement Less than half (46%) say they have made progress with setting long-term financial goals Less than one-third (32%) of POC are currently working with a financial professional MINNEAPOLIS – Sept. 9, 2020 – Although they suggest feeling reasonably prepared for retirement, Americans who identify as people of color (POC) report limited retirement-focused investments and lack of progress toward achieving important retirement goals. These findings indicate a potential misinterpretation of their financial situation that may put POC’s retirement readiness at risk, according to the 2020...
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