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Personal Finance > Insurance
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High-risk life insurance
graphic October 8, 2001: 7:00 a.m. ET

Think there's no coverage for you?
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NEW YORK (CNNmoney) - If you've been told that you can't get insurance -- for example, if you've had a bypass operation, perhaps, or have diabetes -- don't take "no" for an answer. First check any policy you have for a "guaranteed insurability rider," which gives you the right to buy more coverage at your current rate. Then look into group insurance (which usually doesn't require a medical exam).

If neither option applies, you may be a candidate for "impaired risk" insurance. Although some insurers still use mortality tables based on data from the 1970s, others now rely on clinical medical under-writing, which considers medical advances and lifestyle choices that allow people with health problems to live long lives. To find impaired risk coverage:

Call a company that specializes in high-risk policies. Among them: CNA (800-437-8854); Mutual of Omaha (402-342-7600); and Guarantee Trust Life Insurance (800-592-7933; particularly for people with HIV).

Contact Impaired Risk Specialists (888-898-3279) or Underwriting Specialists (800-652-5700). These companies can help you locate impaired-risk policies.

Check lists of independent and company-affiliated agents who specialize in impaired risk in Who Writes What, published by the National Underwriter (800-543-0874; $10).

Choose an agent who has experience with high-risk policies and can shop your case to various companies. Many agents are not aware of impaired-risk policies or are contractually bound to companies that don't write them. You may want to work with two agents to see which one offers a better deal. But don't expect to dicker about the quotes you get; they're based on contracts with underwriters and are likely to be firm. graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
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