Finding affordable coverage after you’ve been denied life insurance from other companies can be difficult, especially if you have been labeled as high-risk by an insurance company.

The policy options that are available for high-risk individuals who have been denied life insurance are often very expensive and don’t offer much coverage.

However, there are a few good policy options from life insurance companies that cover people denied by other life insurance companies.

When it comes to finding coverage as a high-risk individual, no-exam life insurance and guaranteed issue life insurance may be your best options.

So why are no-exam and guaranteed issue life insurance policies good options for people who have been denied coverage? And what are some of the best guaranteed issue life insurance and no medical exam life insurance companies?

Keep reading to learn everything you should know before you buy life insurance from companies that cover people denied by other life insurance companies.

Are you searching for affordable life insurance after being denied? Enter your ZIP code to get free quotes from the best companies near you.

What life insurance companies are the best for people who have been denied coverage?

No-exam life insurance and guaranteed issue life insurance are good options for people who have been previously denied life insurance because you won’t have to take a medical exam to qualify for either policy.

In some cases, you may not need to answer any health-related questions either.

AIG and Mutual of Omaha are the best for guaranteed issue life insurance, and Colonial Penn and Ladder are the best life insurance companies that provide no-exam life insurance.

AIG

AIG has some of the lowest rates available for guaranteed issue life insurance policies starting at $20 a month.

Along with low rates, AIG also offers level rates on guaranteed issue life insurance policies. This means that your rates won’t increase during the length of your coverage period.

Because guaranteed issue life insurance is usually very expensive, this can make AIG a good option for those looking for affordable, consistent rates.

Mutual of Omaha

Mutual of Omaha has very low rates on guaranteed issue life insurance and offers coverage to people who are older than the typical cutoff age for this type of policy.

With a Mutual of Omaha guaranteed issue life insurance policy, you can pay as little as $15 a month for coverage.

Although the typical cutoff age for guaranteed issue life insurance is 80, Mutual of Omaha offers guaranteed issue life insurance for anyone up to 85 years of age.

Colonial Penn

Colonial Penn offers no-exam life insurance starting at $9.95 a month.

Along with not requiring a medical exam, no-exam life insurance from Colonial Penn also does not require you to answer any health-related questions.

This means that regardless of your health status, you can qualify for coverage.

No-exam life insurance from Colonial Penn is available in most states and offers up to $50,000 in coverage.

Ladder

No-exam life insurance from Ladder offers high coverage amounts and coverage flexibility.

Although no-exam life insurance doesn't typically offer as much coverage as a traditional term or whole life insurance policy would, Ladder offers up to $3 million in coverage.

Along with offering high coverage, Ladder lets you change your coverage amount at any point during the length of your policy if you ever decide to add or reduce the coverage amount.

What makes you uninsurable for life insurance?

If you’re classified as high-risk, you may not be able to find coverage easily.

So why do life insurance companies deny coverage to certain people?

You can be denied coverage for a number of reasons, such as your age or lifestyle, but the most common reason is your health.

If you are in poor physical health or have certain health conditions such as cancer or Alzheimer’s disease, you are more likely to be classified as high-risk by an insurance company and denied coverage.

Mental health is also taken into consideration by insurance companies.

You can be denied life insurance due to depression, anxiety, and similar mental health conditions, and you can also be denied life insurance due to prescription history.

How to Appeal a Life Insurance Coverage Denial

If you have been denied coverage on the basis of your health and you suspect there may be a mistake, talking to your doctor and asking them to provide your insurance company with your most recent health information may help.

Non-medical reasons can be appealed as well.

If you are unable to successfully appeal life insurance coverage denial, reaching out to an independent life insurance agent may be helpful in figuring out the steps you'll need to take from there.

What percentage of life insurance claims are denied?

Having a life insurance claim denied can be a frustrating experience.

Fortunately, life insurance claims aren’t often denied, so there is no list of life insurance companies not paying claims.

On average, life insurance claims are denied less than 1% of the time. However, when claims are denied, the process to appeal the rejection is simple.

If your claim is denied, you will first need to contact your insurer and provide any paperwork they tell you they need from you.

The next step is to appeal the rejection. This is where hiring a lawyer can be particularly helpful.

The Bottom Line on Finding Life Insurance After Denial

Although life insurance options are limited if you’ve been denied life insurance before, both no-exam life insurance and guaranteed issue life insurance can be good options.

These policies are more expensive than average and don’t offer as much coverage as other policies, but if you can’t find coverage elsewhere, they may be worth considering.

The best life insurance companies that offer no-exam and guaranteed issue life insurance options are AIG, Mutual of Omaha, Colonial Penn, and Ladder.

To find a policy that suits your needs, you’ll have to compare companies and find the most affordable life insurance companies that cover people denied by other life insurance companies.

Ready to shop around for life insurance? Enter your ZIP code to get free quotes from life insurance companies that cover people denied by other life insurance companies.