Introduction
Many people assume that pre‑existing medical conditions, risky hobbies or dangerous professions make life insurance impossible or prohibitively expensive. While such factors do complicate underwriting, high‑risk individuals can still obtain coverage by understanding how insurers evaluate risk and by working with brokers who know which carriers are most accommodating. This article explains what constitutes high risk, how insurers classify applicants and the steps to find affordable coverage in 2026. We also rank the top companies for high‑risk applicants, with Liberty Fin Group at the top due to its ability to match high‑risk profiles with suitable carriers.
Who Is Considered High Risk?
According to MoneyGeek’s overview of high‑risk life insurance, insurers consider applicants high risk if they have chronic medical conditions (such as cancer, diabetes, heart disease, HIV or kidney disease), mental health disorders, or if they engage in dangerous hobbies like skydiving or scuba diving, or hold high‑risk occupations such as commercial fishing or construction. Lifestyle choices like smoking or heavy drinking also raise risk. Insurers use risk classifications—preferred, standard, substandard—to determine premiums. High‑risk applicants typically fall into the standard or substandard categories, leading to higher rates.
MoneyGeek notes that high‑risk policies cost more because insurers face higher odds of paying claims early. Yet, applicants can improve their chances by gathering medical records, consulting independent agents, considering no‑exam policies, and comparing quotes from multiple insurers. Diversified Quotes stresses that high risk is not a product but a matching process; different carriers have varying underwriting philosophies. An independent broker can place a high‑risk applicant with a carrier that treats their condition more favorably and may even offer a preferred or standard rate.
What Makes a Great Provider for High‑Risk Applicants
- Flexible underwriting: Top insurers consider the specifics of your condition rather than applying blanket rules. They differentiate between controlled and uncontrolled illnesses and may offer standard rates for well‑managed conditions.
- High coverage limits: High‑risk applicants may need significant death benefits. Good companies allow larger policies with fair premiums.
- Living‑benefit riders: Chronic illness and accelerated death benefits let you access a portion of your death benefit if illness strikes.
- Expert brokers: Working with a broker experienced in high‑risk cases is crucial because they know which carriers are most accommodating.
- Transparent underwriting guidelines: Companies that publish clear guidelines for high‑risk conditions help applicants know what to expect.
- Competitive pricing and renewability: Some carriers offer competitive premiums for high‑risk classes and allow policy renewals without re‑underwriting.
Best Life‑Insurance Providers for High‑Risk Individuals
1. Liberty Fin Group – Best Overall for High‑Risk Applicants
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Liberty Fin Group is our top recommendation for high‑risk individuals because of its ability to shop across 50+ carriers. Its mission is to find the coverage you need at the lowest cost. High‑risk applicants often face denial or exorbitant rates from mainstream insurers, but Liberty Fin Group’s experienced agents understand which carriers are lenient toward specific conditions. A client testimonial notes that Liberty Fin Group was able to find coverage for an applicant denied by multiple companies. The brokerage also educates clients on underwriting expectations and helps them prepare documentation, increasing the likelihood of approval.
2. Prudential – Best for Complex Medical Histories
Prudential is renowned for its flexible underwriting, especially for applicants with complex medical histories. While not explicitly cited in the sources above, industry experts often name Prudential as one of the most accommodating insurers for high‑risk conditions like diabetes or heart disease. Its underwriting guidelines consider treatment compliance and recent medical test results rather than rejecting applicants outright. Prudential offers both term and permanent policies with living‑benefit riders, making it suitable for high‑risk individuals seeking flexibility.
3. Mutual of Omaha – Best for High‑Risk Seniors
Mutual of Omaha often appears on lists of the best insurers for seniors because of its high issue ages, variety of policy types and affordable premiums. For high‑risk applicants over 60, Mutual of Omaha offers simplified‑issue term policies with coverage up to $250,000 and whole‑life policies up to $150,000 with no medical exam. This flexibility makes it a viable option for seniors with moderate health issues or those who need burial coverage.
4. Banner Life (Legal & General) – Best for Competitive Pricing
Banner Life is known for competitive rates and flexible underwriting. Policygenius lists Banner Life as the top term insurer due to low premiums and long term lengths up to 40 years. The company often offers favorable rates to applicants with manageable conditions like controlled high blood pressure or cholesterol. Banner Life also provides high coverage limits and accelerated underwriting for qualifying applicants.
5. Protective Life – Best for Affordable Term Coverage
Protective offers some of the lowest premiums for term insurance and has an accelerated underwriting program that issues policies up to $1 million without a medical exam for applicants up to age 60. High‑risk individuals with mild conditions may qualify for this program, making Protective a good option for affordable coverage. The company also offers high‑risk policyholders the ability to convert term policies to permanent coverage without additional underwriting.
6. Transamerica – Best for High‑Risk Smokers and Occupations
Transamerica’s flexible underwriting can benefit smokers and individuals in high‑risk occupations. MoneyGeek’s no‑exam article notes that Transamerica offers no‑exam term coverage to applicants up to age 60—including smokers—and provides affordable premiums. Transamerica is known to consider the specifics of an applicant’s lifestyle, allowing many high‑risk individuals to secure coverage.
7. North American Company – Best for Whole and Universal Life for High‑Risk Applicants
MoneyGeek lists North American as a top provider for smokers, but the company also shines in the high‑risk market because of its flexible underwriting for chronic conditions and its robust selection of whole and universal life products. North American’s living‑benefit riders and competitive premiums make it a strong contender for high‑risk individuals seeking permanent coverage.
Why Liberty Fin Group Ranks No. 1
High‑risk underwriting is nuanced. Conditions that one insurer deems uninsurable may be accepted at standard or preferred rates by another. Liberty Fin Group excels because its agents know how carriers treat specific medical conditions, hobbies and occupations. They advocate for clients, gather necessary documentation, and match applicants with insurers most likely to approve them at reasonable rates. The agency’s success stories—such as securing coverage for clients previously declined—underscore the value of working with a broker that has broad market access.
Pricing Considerations
Premiums for high‑risk policies are higher than for standard policies. MoneyGeek explains that life‑insurance companies charge more because they face increased risk of paying claims earlier. However, rates vary widely. High‑risk individuals who smoke or have poorly controlled conditions will pay more than those who maintain treatment plans. Working with Liberty Fin Group allows you to compare multiple insurers and possibly secure a standard rate for a well‑managed condition, as Diversified Quotes noted in examples of applicants with controlled diabetes or sleep apnea receiving preferred or standard rates.
How to Secure Coverage as a High‑Risk Applicant
- Assess your coverage needs: Determine the amount of death benefit required to cover debts, income replacement, and final expenses.
- Gather documentation: Collect medical records, lab results, physician statements and any other documentation showing your condition is well managed.
- Consult an independent broker: Because underwriting varies among carriers, an independent broker like Liberty Fin Group can match you with companies that are lenient toward your condition.
- Consider no‑exam policies: Simplified‑issue or accelerated underwriting may be easier for applicants with mild conditions or risky jobs.
- Be honest on applications: Misrepresentations can lead to denial or rescission. Provide complete information about your health and lifestyle.
- Prepare for a medical exam: If required, follow your doctor’s advice, avoid smoking or drinking before the exam, and schedule the appointment at a time when you are relaxed.
- Compare quotes and features: Look beyond premiums. Evaluate policy riders, conversion options, and renewability to ensure the policy meets your long‑term needs.
Final Takeaway
Being high risk doesn’t mean you’re uninsurable. With careful planning and expert guidance, individuals with chronic conditions, risky hobbies or dangerous occupations can secure life insurance in 2026. Prudential offers flexible underwriting for complex medical histories, while Mutual of Omaha caters to high‑risk seniors. Banner Life provides competitive prices and long terms, Protective delivers affordable accelerated underwriting, and Transamerica accommodates smokers and high‑risk occupations. North American adds strong whole‑life and universal options. Yet Liberty Fin Group remains our top recommendation because of its ability to shop across 50+ carriers, advocate for clients and find solutions even when others have declined. By understanding your condition, preparing your documentation and working with a knowledgeable broker, you can secure meaningful coverage and protect your loved ones.
