Where is a company that offeres life insurance to felons?
Question by jazngabsmom: Where is a company that offeres life insurance to felons?
My husband commited a felony nine years ago when he was nineteen years old and has not been in trouble since. He is now a foreman, owns his own home and is just a regualr citizen, but he has been denied life insurance through 3 companies. Any suggestions?
His medical exam and history is perfect, he even qualified for prefered rates, but it all comes down to the background check.
Best answer:
Answer by duffmanasu
Have you attempted to contact an independent agent? They represent numerous insurance companies (sometimes over 20) and should be able to tell you whether the previous felony conviction would automatically disqualify him from coverage or if they represent at least one company that would accept him as a risk. That would be my only suggestion, it's the fastest way to check with numerous companies.
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May 26th, 2011 - 18:52
Assuming he’s not still on probation or parole, there are some companies that may offer coverage and others that do not. It sounds like you only found the ones that do not.
This is an underwriting issue that not all companies will treat the same. I recommend talking with at least 3 independent insurance brokers to find the deal you like the best.
May 26th, 2011 - 19:17
Did not even know Felonies had anything to do with life insurance?
There is an health history check that may be stopping you, but the company would still contact you as to what it is. Most medical issues can still be insured just rated. You can get your own Medical Report Free to see what is on it.
Aids is sometimes an issue but some companies will still insure aids persons.
I know that the applications I take for life insurance do not evev ask about criminal records.