Life Insurance: What to Expect When You're Applying

Thinking of applying for life insurance? One of the realities of the individual life insurance market is that not everyone will qualify for the same rates or coverage levels. But here’s the good news: Even if your health isn’t perfect, chances are you can still find an affordable policy that offers meaningful protection for your loved ones.

Insurance companies want to insure you—just at a premium that reflects your overall risk. That means they look at more than just your health when evaluating your application. Here’s a quick overview of what to expect.

What Life Insurance Companies Review

Your application: The amount of coverage you’re applying for needs to make sense given your income and financial picture.

Your occupation: Some jobs are riskier than others. An accountant might be considered lower risk than a firefighter or construction worker.

Your health history: Certain medical conditions—like a recent cancer diagnosis—can make it harder to qualify, depending on the insurer. But don’t worry if you’re carrying a few extra pounds; many carriers approve applicants who are overweight if they’re otherwise in good health.

Your habits: Smoking will definitely bump up your premium. Illegal drug use is typically disqualifying, though some insurers are more lenient about marijuana, especially as laws continue to evolve.

Your medical records: Insurance carriers may access a central health database that works a bit like a credit bureau for your medical history. This helps them verify the information on your application.

The medical exam: Depending on your age and the amount of coverage you’re seeking, this could range from a quick check-up to a full physical, including labs and an EKG.

Consistency counts: All the pieces—your application, your exam, your records—should line up. If something doesn’t match, like failing to disclose a known condition, it will likely raise questions and slow things down.

Your gender: On average, women live longer than men, and in most states, that can translate to lower life insurance premiums. Some states require gender-neutral pricing, but it's still a factor elsewhere.

The Bottom Line

Life insurance companies aren’t looking for perfect health—they’re looking for transparency and average risk for your age group. If one carrier turns you down, another might approve you. And if you’re rated in a higher-risk category, consider accepting the coverage now. You can always apply again in the future if your health improves.

Making even small lifestyle changes—like losing weight or managing your blood pressure—could help you qualify for better rates down the road. In the meantime, your family will have the peace of mind that comes from knowing they’re protected.

Need help navigating the process or finding the right fit? We’re here to guide you.