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I routinely travel to 3rd world countries. Will this have an effect on buying life insurance?

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It may surprise you, but your zip code (where you live) will affect your life insurance quotes.. One of the factors that insurance companies consider when they underwrite a policy is the crime and death rate in the area where you reside. In most cases, the amount of your premiums will not vary a great deal, but if you travel into places where the risk of disease or bodily harm is higher, your insurance company will charge you a higher amount to offset those risks. You will be able to buy life insurance no matter how high the risks may be, but extreme risks could result in the premiums being prohibitively high.

Insurance companies also take into account that places with below average sanitation and health standards are also more likely to be caught up in civil unrest, endure abnormally high crime rates, and pose other threats. If the dangers are especially high and you travel to such places often, you will be classified as a high risk, and your premiums will increase proportionately.

It is not that your ability to be insured would be affected, but the higher your personal risk, the more getting the policy is going to cost. America has some of the highest sanitation and health standards in the world, and any travel to a less developed nation is almost certain to put you into areas where there is more risk of potentially harmful illnesses.

As long as you are willing to pay the cost, life insurance is available. Even people who enjoy high risk activities such as skydiving or bungee jumping are insurable, but they might have to seek coverage through a high risk specialty insurer rather than using traditional insurance policies.

answered Jan 28, 2013 by anonymous
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