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Denied Life Insurance Due to Travel?
April 03, 2020
This article has been written to help guide those who are having a difficult time getting approved for life insurance due to their travel habits. In fact, one of the top 10 ten reasons for being denied life insurance will often be due to travel destinations.
So whether one has a passion for exotic locations, frequently travel abroad for work, or simply want to visit a relative that just happens to live in a country outside of the “generally” approved “insurable” list of countries, you’ve come to the right place.
Life Insurance approvals for traveling abroad
When it comes time to apply for life insurance in most cases you’re going to be asked about your travel plans. And unless you want to risk having your life insurance policy canceled or not honored by the insurer, it’s important to be completely honest when it comes time to answer the dreaded travel question.
Typically you will be asked something along the lines of if you have any plans to travel outside of the country in the next two years.
Depending on what your answer to this question is, could mean the difference between getting the cheapest rates on life insurance and being flat out denied coverage altogether.
Why do life insurance companies care about my travel plans?
Now insurance companies, in general, aren't worried about you traveling. But they are worried about you traveling to places that are deemed to be more dangerous.
So obviously, not many people are going to be affected by this question. And likely won't have anything to worry about.
If you are worried the good news is there are simplified life insurance policies that allow those with exotic travel destinations to apply for a true term life insurance policy without:
- Needing to answer any travel questions,
- Or take a medical exam.
What if I have been denied life insurance due to travel?
If you have already been denied coverage, don't worry! You still have other options. Just because one life insurance denies you a policy it doesn't mean they all will. Knowing the right company to apply with can make a big difference.
Also, as mentioned previously there are policies out there that don't ask you about your travel plans, which could be a great place for you to start researching your coverage options.
If you would like some guidance on the type of life insurance policy you should get or which company you should apply with, give us a call. Our life insurance agents can help guide you through the process and help you find life insurance coverage.
