The two categories we spoke about that can put you in the high risk category are that you participate in activities that put you at a higher risk for death like scuba diving, rock climbing, car racing, or are a pilot. The other category is for health issues like heart disease, high blood pressure, cancer or diabetes. Regular insurance companies will throw you into the high risk pool and the resultant high risk premiums in an instant if your fall into either of these two categories.

Fortunately, there are insurance companies that specialize in high risk life insurance and offer at least somewhat lower premiums. Other conditions that will affect your premium on a high risk life insurance policy are whether or not you smoke or drink alcohol. As a smoker and drinker you will be knocked up another notch on the premium scale no matter what your overall health is.

Unfortunately, almost all insurance companies will at the very least delay or more likely deny the issuance of any insurance policies to people with certain health issues. For example, if you currently have cancer or have gone through treatment and are considered in remission there is a table that states how long you need to have been out of treatment before a policy can be issued. Prostate, Testicular, Skin Melanoma, and Cervical cancer only have a one year waiting period before a policy can be issued, but other cancers have longer periods – Bone 5 years, Leukemia 10 years, Breast, Colon and Pancreatic Cancer 2 years.

It is interesting to note in the case of pancreatic cancer I have never known anyone to live longer than two years past the date of first diagnosis. Apparently, insurance companies have not updated their actuarial tables for that particular disease. If for a particular health reason even high risk life insurance companies will still not insure you there is another option. Guaranteed acceptance life insurance is the only other option at an even higher price per unit of coverage than high risk life insurance. The benefits for this policy are pro rated for the first two to three years before covering you for the full amount paid for. The best part about the policy is regardless of your health or age you can not be turned down; however, that guarantee is reflected in the price.

High risk life insurance may not be the least expensive or most desirable means to getting coverage, but you can at least insure that loved ones, dependents, and responsibilities are covered.