How Expensive Is High Risk Life Insurance?

High risk life insurance is an insurance product especially designed for people who have dangerous jobs, like plane pilots, sea divers or car racers, or for people who are affected by health conditions that can be fatal to them, such as cancer, heart disease or diabetes.
When you want to purchase life insurance, the insurance company always takes into account the degree of risk of you dying shortly or unexpectedly. If you are performing a high risk job or you are suffering of a lethal condition, your insurance premium is sure going to be higher. Insurance companies call the policies of such people "impaired risk" ones. They are more expensive than those for people who only have a standard risk associated.
Because the progress of modern medicine has made possible to cure certain disease which were considered lethal and to increase life duration in terminally ill people, insurance companies have worked on their offer concerning high risk life insurance and have come up on the market with well thought products. Insurance companies use statistics on mortality which date back in the 70s. Things have changed a lot since then and certain companies have begun to use "clinical medical underwriting" in order to adapt their high risk life insurance policies to the needs of the insured ones.
Using this fairly new concept is helping insurance companies to develop insurance products that also take into consideration that people thought to be high risk can benefit of modern treatments to cure or to live longer. Insurance companies also take into account that in modern society people can adopt lifestyles that will decrease their level of risk.
However, even though high risk life insurance can be purchased, the money that the survivors are going to receive is less than in other types of insurance. Sometimes they will only get the amount of money that was paid as premium until death occurred. This is especially true in case the policy owner actually dies because of the illness that put him or her into this category. These insurance policies usually limit the death benefit to the value of the premium already paid for 5 years.
Those who already own a life insurance policy at the moment when they become high risk persons are more likely to get better insurance rates than those who weren't insured. If you are having a normal life insurance policy now and you are not a high risk person, you will be able to increase your coverage level without also increasing your premium value if your policy includes a "guaranteed insurability rider".,