Can you be denied life insurance because you have a felony?
Can you be denied life insurance because you have a felony?
Life insurance companies ask tons of questions. Can they deny you because you have a felony on your record? If you are untruthful on an application can your benefits be denied when payment is due? If you are denied life insurance because of a criminal record what is your recourse?
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4 Responses
1.31.2010
Best Answer – Chosen by Voters Yes, they can deny you for that, they aren't required to EVER issue a life insurance policy. They either offer or deny. They don't even have to tell you why they deny you, in some cases.If you lie on the application, when payout time comes, they don't have to pay. There is no recourse – you have no "right" to purchase life insurance. You can just keep shopping around. Source(s): agent, 21+ years
1.31.2010
Yes, they can deny you insurance.I'd keep shopping (or work with a broker) to find an insurance company that will issue you a policy.
1.31.2010
Work with an insurance broker or independent agent. Expect to jump through several hoops and pay more for insurance than your neighbor.Be open and honest with the agent and the insurance company. If it has been a while since your conviction, show the company your clean record since your conviction.Bad things happen in prison. Insurance companies don't like to take known risks and have to pay out 1000s or dollars if they don't have to. The fact that you were convicted tells the insurance company that you could commit another felony and could die during the crime or in prison after wards. It could indicate that you take other risks such as drugs or other risky behaviors. If you are clean, work at demonstrating this to the company.Good Luck
1.31.2010
They can deny you for any reason they choose. To an insurance company, you are an investment. If they deem you a bad investment for any reason, they can deny your coverage.