by If you’ve got a felony conviction on your record, you might assume life insurance is off the table. But that’s not necessarily the case. While a criminal history can complicate things, it doesn’t always mean the door to life insurance is closed. So, can felons get life insurance? Yes, they can—but it depends on a variety of factors.
In this guide, we’ll break down what insurers really look for when reviewing applications from felons, what kind of life insurance options are available, and what you can do to increase your chances of getting covered.
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Can You Get Life Insurance with a Felony?
Here’s the good news: Life insurance is not automatically off-limits if you have a felony on your record. That said, not all crimes are viewed the same, and each insurance company has its own way of assessing risk. The key is understanding what factors play into their decision-making.
What Felonies Matter to Insurers?
Insurance companies don’t treat all felony convictions equally. Certain types of crimes, such as violent offenses or those involving drug use, are seen as high risk and could lead to a denial. For example, convictions for assault, armed robbery, or drug distribution will likely make it much harder to get approval.
However, non-violent felonies like theft, fraud, or minor offenses might not be as heavily scrutinized, especially if a significant amount of time has passed since the conviction. The further removed you are from the crime, the better your chances are at getting life insurance.
Time Since Conviction
The time that has passed since your conviction can make or break your application. Insurers want to see that your criminal record is part of your past—not your present. If your conviction is 10, 15, or even 20 years old and you’ve stayed out of legal trouble since then, your risk profile improves.
For example, someone convicted 20 years ago who’s led a stable, productive life afterward is far more likely to get approved than someone who was convicted just two years ago.
How Does a Felony Affect Life Insurance Premiums?
If you’re eligible for life insurance, expect that your felony record may impact your premiums. Insurers price policies based on the risk you represent, and having a felony could be viewed as a higher risk—especially if it involved drugs, violence, or a pattern of criminal behavior. This might mean you’ll pay more than someone without a criminal record.
What Drives Higher Premiums?
Several factors can lead to higher premiums for felons, such as:
- Nature of the felony: Crimes involving violence or substance abuse will likely result in higher premiums.
- Recent convictions: The more recent your conviction, the higher the risk you’re perceived to pose.
- Health concerns: If your felony was related to drug or alcohol abuse, insurers may factor in long-term health risks from substance use.
While having a felony might increase your premiums, not all hope is lost. Time and lifestyle changes can greatly influence your insurability and how much you’ll pay.
What Types of Life Insurance Can Felons Get?
Felons still have options when it comes to life insurance, although some policies may be more accessible than others. Here are some options you might consider.
Term Life Insurance
Term life insurance is often the most straightforward and affordable option. It provides coverage for a set period—typically 10, 20, or 30 years—and pays out a death benefit if you pass away during the term. For felons, term life can be a solid choice if enough time has passed since your conviction and your lifestyle has remained stable.
However, approval may hinge on the severity of your felony, your health, and how long ago your conviction took place.
Whole Life Insurance
Whole life insurance offers lifetime coverage and includes a cash value component that grows over time. While this option tends to be more expensive, it guarantees permanent protection as long as you continue paying premiums.
For felons, qualifying for whole life insurance might be more challenging due to the lifelong commitment of the policy and the stricter underwriting process. However, if you’re approved, whole life insurance provides long-term security and builds financial value.
Read more: What’s the difference between term and whole life insurance?
Guaranteed Issue Life Insurance
If traditional life insurance options feel out of reach, guaranteed issue life insurance might be a way forward. This type of policy skips the medical exam and the usual background checks, making it more accessible to people with higher risk profiles, including felons.
While it’s easier to qualify for, guaranteed issue policies typically have higher premiums and lower death benefits. Additionally, they often include a waiting period, which means if you pass away within the first few years of the policy, the payout to your beneficiaries could be limited.
How Do Life Insurance Companies Assess Felons?
When evaluating applications from felons, life insurance companies follow a process known as underwriting, where they consider multiple factors beyond just your criminal record. Here’s what typically comes into play:
- Type of felony: Was it a violent or non-violent offense? Crimes related to violence or drugs usually trigger more caution from insurers.
- Time since conviction: If it’s been years since your conviction and you’ve maintained a clean record, insurers are more likely to view you favorably.
- Health and lifestyle: Your current health and overall lifestyle, including your employment and family life, will also influence an insurer’s decision.
Medical Underwriting for Felons
Medical underwriting is a critical part of the application process. Insurers look at your current health and medical history, especially if your felony involved drug or alcohol abuse. You might need to provide proof of rehabilitation or submit to medical exams to show you’ve turned your life around.
Insurers also want to know how your past might affect your future. If you’ve maintained a clean and healthy lifestyle post-conviction, that can go a long way toward improving your chances of approval.
Can Life Insurance Be Denied Because of a Felony?
Yes, insurance companies can deny coverage based on a felony conviction, especially for violent or drug-related crimes. Recent felonies are also more likely to result in denial. However, this doesn’t mean that you have no options. Guaranteed issue policies and employer-sponsored group life insurance may still be available, even if traditional coverage is denied.
What Can You Do to Improve Your Chances of Getting Life Insurance?
While a felony can make getting life insurance harder, there are steps you can take to improve your odds of approval and possibly reduce your premiums:
1. Be Transparent About Your Conviction
Don’t try to hide your felony on the application—it’ll likely come up during the underwriting process anyway. Being upfront and honest about your past can work in your favor, especially if you can show you’ve made positive changes in your life.
2. Focus on Health and Stability
Insurers will assess your current health and lifestyle when deciding whether to approve your application. Living a healthy, stable life with steady employment, a clean legal record, and good medical history can all improve your chances of getting life insurance.
3. Explore Your Options
If you’re struggling to qualify for traditional life insurance, consider simplified issue or guaranteed issue policies. They may come with higher premiums and lower benefits, but they offer a viable way to secure coverage despite a felony record.
Conclusion
A felony conviction can complicate your life insurance application, but it doesn’t make it impossible. With the right strategy—whether that’s opting for a guaranteed issue policy, focusing on improving your health, or simply waiting for more time to pass since your conviction—you can still protect your loved ones with the right life insurance plan.
By understanding how insurers assess risk and positioning yourself as a stable, low-risk applicant, you can increase your chances of securing life insurance and ensuring your family’s financial future is protected.
FAQs:
Can felons qualify for life insurance?
Yes, felons can still get life insurance, but approval depends on the type of felony, how much time has passed since the conviction, and the insurer’s guidelines.
Will having a felony increase life insurance premiums?
Yes, a felony can lead to higher premiums, especially for violent or drug-related offenses. However, your rates might be better if enough time has passed and you’ve maintained a healthy lifestyle.
What are the best life insurance options for felons?
Felons can apply for term life, whole life, or guaranteed issue life insurance. Guaranteed issue policies are the easiest to get but come with higher costs and limited coverage.
Can life insurance be denied because of a felony conviction?
Yes, certain felonies, particularly violent or recent ones, can lead to denial. However, options like guaranteed issue policies are still available, even if standard coverage is denied.
