Uninsurability is a potential issue when planning for retirement. The most common causes of uninsurability are pre-existing medical conditions, age, lifestyle, and occupation.
Pre-existing conditions such as cancer, heart disease, and diabetes can lead to higher rates or even denial of coverage.
Age can also play a factor, as many insurance companies will not insure people over a certain age. Lifestyle choices such as smoking or high-risk activities such as sky diving can also lead to uninsurability.
Finally, certain occupations may be deemed too high risk for an insurance company to insure, such as pilots or fire fighters.
To find out whether you or one of your family members is insurable or not, contact us or request a copy of the Underwring Handbook listing some of the health challenges that will impact insurance underwriting, you'll be glad you did.