Life Insurance Guide for Felons (2024)

Despite what you may have heard, you can get life insurance for felons. However, it may be challenging to get life insurance quotes for felons – it all depends on the nature of the criminal conviction.

Read through this guide to learn how to buy life insurance for felons, what felonies disqualify felons from life insurance, and which life insurance companies insure felons.

Are you ready to find affordable life insurance for felons right now? Enter your ZIP code in our free online quote tool above to compare the best companies near you.

How much are life insurance rates for felons?

There’s no absolute number we can give you. Felons may have shorter life expectancies, so some life insurance companies won’t extend life insurance coverage to a felon.

However, some life insurance providers will accept felons. You may have to pay higher than average rates.

But what’s the average rate? Let’s start with the best insurance companies in the United States.

Average Monthly Life Insurance Rates and A.M. Best Rating by Company

Read more:

• Guardian Life Insurance Review & Complaints: Life, Disability & Dental Insurance
• Pacific Life Insurance Review & Complaints: Life Insurance
• Primerica Insurance Review & Complaints: Life Insurance

Life insurance depends on age, health, and lifestyle. Regardless of how much a felon’s lifestyle has changed, life insurance companies will want to know about the felony conviction.

This ultimately determines the cost of the life insurance policy. If a felon isn’t on probation, they may be eligible for a policy.

Why do life insurance companies care about criminal records?

A criminal record reveals a potential customer’s lifestyle. Those who have felonies or misdemeanors within two years of getting a policy are risky to insure.

What is a felon? A felon is anyone who committed a felony – a serious crime that has affected a group of people or society.

Some life insurance companies may refuse your life insurance application altogether if you have these felony charges on your criminal record:

• child molestation
• drug trafficking
• human trafficking
• rape
• murder
• kidnapping
• conspiracy to commit crimes listed above

Most companies advocate against these crimes and certainly won’t provide life insurance coverage for felons who were convicted of these crimes.

Life insurance providers may not dock you for felonies, such as theft, DUI, crimes involving property, drug-related crimes (drug use), and assault. Each insurance company looks at felonies differently.

How can I buy life insurance for felons?

Try getting a term life insurance or whole life insurance policy through some of the best companies first. If they approve you for a standard life insurance policy, follow the company’s instructions to get your policy.

The good news is if the traditional route doesn’t work, you can look for guaranteed issue life insurance or burial insurance.

These life insurance policies are easier to obtain but lack the capabilities of customized term life insurance and whole life insurance. Also, you won’t have to take a medical exam for them.

What can you not do if you are a convicted felon? Lying on your life insurance application will disqualify you from getting a policy.

Case Studies: Life Insurance Guide for Felons

Case Study 1: John’s Journey to Securing Life Insurance as a Felon

John, a 40-year-old individual with a felony conviction, wanted to purchase life insurance to protect his family’s financial future. He understood that his criminal record might affect his ability to obtain coverage, but he was determined to explore his options.

After researching different life insurance companies, John discovered a few providers that were willing to insure individuals with felony convictions. He decided to apply for a term life insurance policy with one of these companies. Despite his criminal record, he was approved for coverage with a slightly higher premium rate compared to individuals without felony convictions.

John’s case demonstrates that while being a felon can present challenges in obtaining life insurance, it is still possible to find coverage by researching companies that specialize in insuring individuals with criminal records.

Case Study 2: Maria’s Experience With Guaranteed Issue Life Insurance as a Felon

Maria, a 55-year-old woman with a felony conviction, had been denied traditional life insurance coverage due to her criminal record. However, she didn’t give up and continued to search for alternatives.

Maria came across guaranteed issue life insurance, which is a type of policy that doesn’t require a medical exam or ask health-related questions. These policies are designed to provide coverage to individuals who may have difficulty obtaining traditional life insurance.

Maria decided to apply for a guaranteed issue life insurance policy. Despite the higher premiums associated with this type of coverage, she was relieved to be approved and have the peace of mind that her family would be financially protected after her passing.

This case study highlights that even if traditional life insurance is not available, options like guaranteed issue life insurance can still provide valuable coverage to felons.

Case Study 3: Robert’s Transition From Guaranteed Issue to Traditional Life Insurance

Robert, a 35-year-old man with a felony conviction, initially obtained a guaranteed issue life insurance policy due to the difficulty of finding traditional coverage. However, as time passed and his circumstances changed, he decided to explore the possibility of transitioning to a traditional life insurance policy.

Robert maintained a clean record for five years and demonstrated positive lifestyle changes, including steady employment and participation in rehabilitation programs. He contacted an insurance agent specializing in high-risk cases to discuss his options.

With the agent’s guidance, Robert successfully transitioned from a guaranteed issue policy to a traditional term life insurance policy. His commitment to personal growth and stability played a crucial role in securing this coverage.

This case study demonstrates that even if felons start with guaranteed issue life insurance, they can work towards qualifying for traditional coverage by demonstrating improved circumstances and a commitment to positive changes.

Life Insurance for Felons: What’s the bottom line?

Getting life insurance for felons is challenging. Some life insurance agents and companies won’t bother insuring felons, but it doesn’t hurt to try.

If traditional life insurance isn’t working out, try no medical exam life insurance or burial insurance to get covered.

Now that you know more about life insurance for felons, use our free comparison tool below to compare multiple companies in your local area.