What company offers the best life insurance for felons?

If you have been unfortunate enough to have received a felony in your past, you may have found that your felony has the potential to impact many different areas of your life. As you search for the cheapest life insurance quotes after receiving a felony, you may be wondering how easy it is to find life insurance for felons.

Life insurance for convicted felons can be a tricky topic to navigate. But if you’re wondering, “can convicted felons get life insurance,” the answer is yes. Depending on your background and your life since your conviction, finding life insurance for felons may not be as difficult as you expect.

As you do your research to find life insurance companies that insure felons, be sure to compare quotes that you receive from multiple companies. There is no need for you to accept the first quote you get, and you may find that another company will offer you a life insurance policy at a much cheaper rate.

Be sure to use our free quote tool above to find affordable life insurance policies for felons in your area today.

Can a felon get life insurance?

So, can felons get life insurance? After receiving a felony, you may be curious how difficult it will be for you to find life insurance. The truth is, it is possible for felons to get a life insurance policy, but you may find that your past impacts both the availability and price of life insurance coverage.

If you’re wondering, “do life insurance companies do background checks,” the answer is yes. Life insurance companies — and all other insurance companies — do background checks on any of their prospective policyholders as a way to help determine their level of risk.

Because it will be difficult to find life insurance with no background check, you can expect that any life insurance company you send an application to will know about your felony. But this doesn’t always mean you won’t be able to purchase an insurance policy with that company.

Do life insurance companies check criminal records?

Life insurance companies do check criminal records, so your best bet is to be forthcoming with information about your past. If you’re more comfortable speaking with someone instead of completing an online application, you could call any companies you’re considering and tell them more about your background to help them better understand who you are and what you need.

The one option you may have for life insurance without a background check would be a guaranteed issue whole life insurance policy. Most people use a guaranteed issue policy as a way to get around medical exams, but someone with a felony may find that guaranteed issue policies also forgo a criminal background check.

With a guaranteed issue life insurance policy, you can expect to pay higher-than-average monthly rates for coverage, and you are likely to miss out on coverage options that may interest you a lot more. Unless you’re 65 or older, you should consider another option before going with a guaranteed issue whole life policy.

Another option you may want to consider as you search for felony insurance is whether your employer provides a group life insurance benefit. Life insurance through your employer may be a great way to find coverage if you don’t want to pursue companies as an individual or you’ve found that life insurance for felons is more expensive than you can afford.

How much is life insurance for felons?

After receiving a felony, there’s a slight chance you may be able to find coverage at standard rates. This will probably be dictated by the severity of your conviction and whether you have other blemishes when it comes to a criminal background check.

The table below shows average monthly life insurance rates for non-smokers based on age, gender, and the amount of the policy.

Average Monthly Whole Life Insurance Rates by Age & Gender for Non-Smokers

If you are able to get standard life insurance rates for a whole life policy, the rates listed above may be comparable to those you receive from individual companies. But the likelihood is that you’ll be paying higher-than-average rates because of your felony.

In contrast to the table above, the table below shows annual life insurance rates with different companies for high-risk clients.

Life Insurance Rates For Pre-Existing Conditions

As you can see, people who are considered high-risk may end up paying a lot more for life insurance coverage than those who receive standard rates. This is especially true for people who are in their 50s or older.

You can always call to speak to representatives from different companies that have labeled you high risk. Ask them whether there’s any flexibility in monthly rates. And be sure to inquire whether you are eligible for discounts that could lower your monthly rates anywhere from 5% to 20%.

Can a felon get a life insurance license?

If you’re interested in selling life insurance, you may be wondering, “can I get my insurance license with a felony?” You may be able to become a licensed insurance agent if you have a felony on your record, but you’ll have to do some research to find the companies or agencies that will employ you once you’re a licensed agent.

A felon can get a life insurance license to sell insurance life insurance either as an independent agent or as an agent with a specific company. But there are certain felony convictions that will not allow you to apply for an insurance license. These convictions include:

• Felony of the first degree
• Capital felony
• Felony involving money laundering
• Felony involving fraud or embezzlement
• Felony directly related to financial services

If your felony conviction does not fall into any of the categories listed above, you may find that you can sell life insurance with a felony.

You can apply for an insurance license at any time. But you may want to run a background check on yourself before you do so, as this will help you know what a company will find when they do the same. Remember to be forthcoming with all of your information, as keeping a felony from a potential employer may be considered fraud, which is punishable by law.

As you search for the right life insurance coverage, be sure to use our free quote tool below to compare quotes from multiple companies and find coverage options and monthly rates that work for you.

Case Studies: What company offers the best life insurance for felons?

Case Study 1: Group Life Insurance Through Employer

John was determined to find life insurance coverage despite his felony conviction. He discovered that his employer offered a group life insurance plan as part of their benefits package. John took advantage of this opportunity and enrolled in the group life insurance policy provided by his employer.

By choosing the group life insurance option, John was able to secure coverage without undergoing a background check. This gave him the peace of mind knowing that his loved ones would be financially protected in the event of his death, even with his felony conviction.

Case Study 2: Guaranteed Issue Whole Life Insurance

Sarah had difficulty finding affordable life insurance coverage due to her felony conviction. After researching her options, she discovered guaranteed issue whole life insurance policies. Despite the higher premiums, Sarah decided to apply for this type of policy.

With a guaranteed issue whole life insurance policy, Sarah didn’t have to undergo a background check, making it an accessible option for individuals with felony convictions. Although the premiums were higher than traditional policies, Sarah saw it as a worthwhile investment to provide financial protection for her family.

Case Study 3: Comparative Shopping for Life Insurance

Mark was determined to find the best life insurance coverage for felons at an affordable price. He understood that rates might be higher due to his felony conviction but wanted to explore different options. Mark decided to compare quotes from multiple life insurance companies to find the most favorable terms.

Through his research, Mark found a company that specialized in providing coverage for individuals with felony convictions. They offered competitive rates based on his specific circumstances. By shopping around and comparing quotes, Mark was able to find a life insurance policy that provided the coverage he needed at a price he could afford.