FREQUENTLY ASKED QUESTIONS

Unfortunately, having a criminal record can add an extra challenge to many aspects of life. If you have been convicted or charged with a felony, it could make it very difficult for you to get life insurance. Insurance companies do look at your criminal history, among other things, when you apply for your insurance policy. Here’s what you need to know about getting a life insurance policy as a convicted felon.

Do Companies Offer Life Insurance For Felons?

It is extremely difficult to get life insurance if you are a felon. In fact, many insurance companies will not even consider offering you life insurance if you have been convicted of a felony. However, there are some companies that do not look at your criminal background. You will need to do extensive research to find the best life insurance option in your area for felons.

 

You may be wondering why life insurance companies would care about the fact that you have a felony, particularly if it was a long time ago. There are a few reasons why it’s important. Life insurance see someone who has committed a felony as having a high risk lifestyle. They are concerned that their chances of having to pay out a claim will be higher. Statistics have shown that a large percentage of people who have been in prison in the past will go back to prison at some point in their life. Insurance companies are also concerned about the poor health that you may have developed in prison, as well as an increased risk of drug or alcohol abuse.

Insurance companies will consider whether you were convicted of a felony or just charged with it. While being charged with a felony can still negatively affect your chances of getting insurance, it’s not considered as problematic as having been convicted. Insurers also look at the amount of time you served in jail, the number of offenses you committed, when you got out of jail, and your parole or probation status. If it’s been a long time since you have been in jail and your parole status is good, it may increase your chances of getting life insurance.

 

How To Get Life Insurance As A Felon

You can get life insurance as a felon – you just have to be smart about it. Do thorough research on many different companies to find out what they ask for on their applications. There are companies out there that don’t ask about your criminal history at all. Do not put in an application unless you are fairly sure you will be accepted. This is because some insurance companies look at whether you have been denied insurance in the past, so if you are denied it could make your chances even more difficult. You should also make sure you talk to an insurance professional who can help you with your unique situation. Finally, it may help to go through a rehabilitation process, which shows insurers that you are taking steps to live a healthier, safer life.

There are also guaranteed issue policies, which will insure  you regardless of your medical history, criminal history, or any other lifestyle factors.  These policies are the most expensive though, and should only be used as a last resort.  The key to any good life insurance policy is for it to be affordable.

Felony Crimes Insurers Look At

There are specific felony crimes that insurers look at. Larceny, assault, and property crimes are all very common, and they can impact your ability to get life insurance. However, they are also easier to overcome, particularly if they happened a long time ago and only happened once. Drug and alcohol related convictions, on the other hand, are taken extremely seriously and are very hard to overcome. If there was any indication of substance abuse in your criminal record, insurance companies are going to hesitate because of the health risks involved. There are also specific crimes that are going to completely rule out the possibility of getting life insurance. These include murder, rape, molestation, kidnapping, or any type of trafficking or conspiracy. These crimes are typically considered to be in a different category than the more minor offenses we’ve previously discussed.

If you are a convicted felon and you are interested in getting life insurance, your first step should always be to talk to an insurance professional. Ideally, you should talk to an agent who works independently from any specific company, as they will be unbiased and will be able to help you weigh your options.

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