Sports Financial specialises in working with people who take part in extreme or dangerous sports because we have an in-depth knowledge of High risk life insurance carriers to be able to tell you where to find the most affordable cover. Insurance underwriting will vary dramatically from one provider to another and it is true to say that rates for High risk life insurance carriers will vary dramatically in some cases. The main reason for speaking to a specialist such as Sports Financial is that we know which insurance companies offer the best rates and premiums for your individual circumstances and therefore High risk life insurance carriers are different because of their own attitudes to risk.
Which are the best High risk life insurance carriers?
Often underwriting will determine which of the top insurers will provide you with the lowest premiums for your own circumstances. Underwriting is the same for most types of insurance which includes life insurance, travel insurance and medical insurance as premiums will be based on risk.
How you determine which High risk life insurance carriers is best for you will be based on:
- Amount of cover
- Medical history
- Other risk factors
You will find that your application for cover for each High risk life insurance carrier will incorporate a list of key questions to help them to determine how much risk is involved for you.
How much do High risk life insurance carriers cost?
Usually the same normal high street insurance companies will also provide High risk life insurance carriers rates as well depending on their underwriting.
The cost of cover will purely depend on standard factors such as:
- Sum assured (amount of cover in £’s)
- Term of policy (years)
- Type of cover (e.g. Family protection, Mortgage cover, whole of life etc.)
The cost of cover from any High risk life insurance carrier will be determined by a number of key factors which will also link back to your:
- Smoker status
- Medical history
- Sports and Hobbies
Ultimately the price that you pay for a policy from any of the High risk life insurance carriers will vary depending on whether your lifestyle would attract an increase in rates.
Will my premiums increase for High risk life insurance carriers?
It is likely that if you take part in an extreme sport or dangerous hobby that you will be subject to some level of specific underwriting which would usually be carried out by an actual person rather than a computer. Depending on with of the High risk life insurance carriers you select will determine which level of premium increase you might pay.
Increases in premiums or premium loadings from High risk life insurance carriers will vary and so you should ensure that you speak to the best ones. A premium loading can increase from 0% to 250% with some providers and very rarely will they be the same for each company so you should speak to an expert if you are classed as high risk.
What products are available from High risk life insurance carriers?
The main products which are available from most High risk life insurance carriers are:
- Life insurance: Level term, Decreasing term, Family income benefit and Whole of Life
- Critical illness cover
- Income protection; Short term and long term
- Business life insurance: Relevant Life, Key Person cover, Shareholder protection etc.
For the most competitive rates from High risk life insurance carriers to protect your loved ones you should contact one of our team of experts today on 0345 565 0935 for more information. The most important point for us is to make sure that you and your family are covered in the event of anything happening to you.