Driving Under the Influence
If you have obtained drunk driving convictions in the last 10 years, the insurer will likely charge you with about $7.50 for every $1,000 of life coverage. In fact, an insurance company may deny selling you life policy if you had a couple of DUI offense. You are considered a risk as there is a high chance of being involved in a car accident. Moreover, the insurance firm also considers you as an alcoholic, which increases the probability of death.
Insurance companies today are open to selling life policy to individuals who have survived cancer. The firm determines your type of cancer, the time period that you are free of the disease, your treatment, and your capability to pay the coverage.
For the majority of cancer conditions, insurance companies give applicants 1 to 5 years of waiting period before they qualify for life insurance. This is also after the completion of the specific treatment. There are some cancer survivors who may need to wait longer than 5 years.
Here are some examples of hobbies that can lead insurers to charge extra payment for life insurance policy.
- Auto racing
- Paragliding and hang gliding
- Hot air ballooning
For example, a skydiver who jumps less than 50 times a year would have an extra fee of up to $3 for every $1,000 of life coverage. The payment becomes $5 if the skydiver jumps from 50 to 100 times a year. If the hobbyist jumps more than 100 times every year, the extra charge reaches up to $7.50.
While most insurance carriers increase your premium for life insurance, they charge differently. Every company reviews the risks and sets an amount according to their company guidelines.
If you think you have a risk and you could end up paying an additional amount, consult with an insurance agent to advise you on buying the best life policy. At Roper Insurance Services, we take pride in making sure that our clients are well-protected at prices they can afford. To learn more about how we can help you, please contact our agency at (828) 697-6709 or Click Here to request a free quote.