Who Qualifies for Universal Life Insurance


Who Qualifies for Universal Life Insurance

In general, you’re likely to qualify for universal life coverage unless extenuating circumstances cause your application to be denied. 

Factors that could cause you to be denied include:

Poor physical health: Insurance companies may decline to provide coverage for individuals with serious health conditions.

Age: Most insurance companies will only provide life insurance coverage for individuals under a certain age.

Lifestyle: Insurance companies may be more likely to deny coverage to individuals with high-risk hobbies, a high-risk job, or unhealthy habits.

Credit: Insurance companies might run credit checks before underwriting insurance policies. If you have poor credit or a poor financial history, you might struggle to qualify for some types of policies.

Criminal record: You may be denied life insurance coverage if you have a criminal record, especially if you have felonies on your record.

As with any life insurance, even if you qualify for coverage, factors like your health, age, and lifestyle may affect the price of your premiums. 

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