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Life insurance for high-risk individuals is usually an expensive product. In order to protect a high-risk individual’s loved ones from financial hardship following an individual's death, many insurance companies offer life insurance policies explicitly designed for high-risk individuals. These policies are typically known as "Living Benefits" and can cover living expenses, funeral costs, and even settlement loans or debts. Are you interested in living benefits? Contact a Plentii agent today!
We all know that accidents happen, and sometimes they can be catastrophic. While many of us lead relatively stable and secure lives, others may find themselves living in high-risk areas. This is especially true for those who have careers that put them at risk for injury. Whether you are a construction worker, an auto mechanic, or someone who works offshore, working in a high-risk profession can lead to injury or death if precautions are not properly taken.
Living in a high-risk area poses its own challenges. For instance, how can we get to the job site or relax in our favorite hangout spot without risking injury? How can we continue to live a productive life while avoiding possible danger?
Life insurance for high-risk individuals is a highly competitive market. A high-risk individual is one who typically has a risky profession, little job security, or poor credit. Many high-risk policies also do not require a medical exam. You should be aware, however, that some life insurance companies may try to exclude individuals with risky jobs, poor credit, or unhealthy lifestyles.
Some life insurance companies offer "risk-free" or supplemental policies. These kinds of policies do not include any coverage for pre-existing medical conditions. However, there are policies available that provide coverage for cancer, depression, and other life-threatening conditions. Living benefits are intended to provide income during rehabilitation or unemployment. Plentii believes that these living benefits allow peace of mind for you and your family.
Many life insurance companies also offer a type of universal or term policy. This type of policy provides coverage for death, illness, loss of income, and other things deemed to be "life-changing." Usually, these types of policies are renewable every year. Many individuals choose to maintain these policies until they reach their golden years or until a specific time limit has been reached based on age.
Many life insurance companies offer special policies for high-risk hobbies. Avocation is considered a life profession, so many insurers will offer policies that cover the cost of life while an individual pursues their chosen career path. In many cases, these policies are renewable after a certain period of time.
Many insurers understand that some people have unusual lifestyles. In addition to high-risk pursuits, an individual may have a risky occupation. For example, if an individual’s job is to hunt, they are considered to be at risk for injury. Another high-risk occupation for some individuals is piloting an airplane. Because pilots often fly into remote areas where there are no emergency medical services, pilots who fly into these areas without adequate training run the risk of serious injuries.
In addition to life insurance for high-risk professions, some companies also offer policies that focus on sport leisure activities. Accounting for these policies can help an individual offset the costs of maintaining a hobby. Some policies will pay the cost of a plane ticket, hotel accommodation, and other associated expenses if one becomes ill or develops a condition during the course of the pursuit of their chosen career. This type of policy is usually limited to sports with high levels of danger, which often is a common form of recreation.
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Life insurance for high-risk pursuits can provide the protection necessary to ensure that family members do not suffer financial hardship when a loved one dies from a job-related accident or other causes. It is important to be aware of the risks associated with your chosen career, avocation, or hobbies and make sure that you are covered. If an insurance company does not offer policies that focus on high-risk pursuits, it may be time to consider looking for a company that does. Contact a Plentii agent today to help find a policy that fits your lifestyle. In many cases, it is possible to receive a policy that will provide the financial security that is necessary to alleviate stress before and after the death of a loved one.