Discover life insurance for felons. Learn about accessible life insurance policies, including group life insurance, accidental death insurance, and guaranteed issue life insurance tailored for those with felony records. Secure your future with the right coverage.
Even if you have a felony conviction, understanding the life insurance buying process and the factors companies consider can help you choose the right policy for your needs.
You may be able to find life insurance policies that cater to your circumstances if you have a felony conviction. Some life insurance companies that insure felons may also impose additional restrictions, such as higher premiums and waiting periods, depending on the severity of the crime and conviction.
You can make well-informed decisions when shopping for a policy by knowing the factors insurance companies consider when determining eligibility, the types of coverage available to felons, and how the buying process works.
Can a Felon Get Life Insurance?
- 1 Can a Felon Get Life Insurance?
- 2 How Does a Felony Impact Life Insurance?d
- 3 Best Life Insurance for Felons that Insure Felons
- 3.1 Prudential Life Insurance For Felons
- 3.2 AIG Direct Life Insurance for Felons
- 3.3 Ladder Life Insurance for Felons
- 3.4 Amica Life Insurance for Felons
- 4 Do Life Insurance Companies Check Criminal Records?
- 5 How Do You Buy Life Insurance If You’re A Felon?
- 6 Applying for Life Insurance with a Felony Record
- 7 Factors Life Insurance for Felons Companies Consider
- 8 The Life Insurance Approval Process for Felony Convictions
- 9 Life Insurance Options for People with a Felony
- 10 Can Felons Qualify for Life Insurance Policies?
- 11 Cases Where People With Felonies Obtained Life Insurance
- 12 Tips for Felons Buying Life Insurance
- 13 FAQs
- 13.1 Can I Get Life Insurance If I Have a Felony Conviction?
- 13.2 Can an Inmate Purchase Life Insurance?
- 13.3 Do Insurance Companies Check Criminal Records?
- 13.4 What Types of Life Insurance Can Felons Get?
- 13.5 Can You Get Life Insurance While in Prison?
- 13.6 Are There Any Specific Types Of Life Insurance Policies Available For Felons?
- 13.7 What Life Insurance Options Do Felons Have?
- 14 Final Verdict on Life Insurance For Felons
You may wonder if it will be difficult for you to find life insurance if you have a felodny. You can still get life insurance as a felon, but your past may impact how easily you can get life insurance coverage and how much it will cost.
Life insurance companies do background checks on prospective policyholders to determine their risk level.
Any life insurance company you apply to will be aware of your felony because finding life insurance without a background check is difficult. However, you may only be able to purchase insurance from that company in some cases. Check Out the Best Life Insurance For Pilots tailored to meet the unique risks and demands of aviation.
How Does a Felony Impact Life Insurance?d
Life insurance companies may deny your application if you have a felony. If your case is serious or repeated, the insurance company may deny your application. Also, life insurance companies generally do not consider candidates currently in prison. You can obtain coverage if you are in jail or awaiting trial once your case has been resolved and you are no longer incarcerated.
The insurance companies review risks on a case-by-case basis, so those with felony convictions can still buy life insurance. This means that each applicant will be evaluated based on their circumstances. You can also work with an independent insurance broker or agent familiar with the market. They can help you select the right policy and provider.
Your felony conviction will likely be cross-checked with public records when you apply for life insurance. Any false information you provide will likely result in your application being denied.
When your application is denied, you may be able to obtain guaranteed issue life insurance. If your application is denied, you may be able to obtain group life insurance through your employer.
Best Life Insurance for Felons that Insure Felons
Below are the top four providers offering life insurance for felons convictions, each with unique policies and considerations tailored to accommodate the specific needs and histories of those with criminal records.
Prudential Life Insurance For Felons
Prudential is known as one of the more lenient life insurance companies for individuals with felony records, especially if the felon demonstrates significant recovery and rehabilitation. They assess applications using their underwriting credits and are generally more accepting of those who show positive change and progress.
However, it’s important to note that coverage is generally not available for violent felony convictions. For non-violent felonies, Prudential evaluates each case individually, considering factors like the nature of the crime and the time elapsed since its occurrence.
Prudential Life Insurance for Felons Pros and Cons
|Consideration of non-violent felony records
|No coverage for violent felony convictions
|Assessment based on rehabilitation progress
|Specific eligibility criteria for felons
|Tailored policies for individual circumstances
|Potential higher premiums for high-risk individuals
AIG Direct Life Insurance for Felons
AIG Direct Life Insurance provides policies that could be suitable for individuals with felony records. However, like many insurance companies, AIG Direct doesn’t specifically advertise its rates or policies for felons. When applying for life insurance, companies usually consider each application on a case-by-case basis, especially when it involves a criminal record.
Felons might still qualify for traditional life insurance policies, but the process often involves thorough background checks and assessments of the applicant’s criminal history.
AIG Direct Life Insurance for Felons Pros and Cons
|Considers applications from felons on a case-by-case basis
|May have higher premiums for individuals with felony records
|Offers a variety of policy options including traditional life insurance
|Some types of felonies (especially violent or recent) might lead to application denial
|May provide coverage for non-violent felony convictions
|Requires thorough background checks and assessment of criminal history
|Potential for no medical exam policies
|Limited information publicly available specifically about policies for felons
Ladder Life Insurance for Felons
Ladder Life Insurance offers coverage to individuals between the ages of 20 and 60, with some restrictions on the length of the term based on age. While their eligibility criteria do not explicitly mention policies regarding applicants with felony records, most life insurance companies, including Ladder, typically review applications with a felony on a case-by-case basis.
This review includes considering the nature of the felony, how long ago it happened, and the applicant’s current status. It’s recommended to contact Ladder directly or work with an insurance agent to understand how your specific circumstances may affect your eligibility and the terms of potential life insurance policies with Ladder.
Ladder Life Insurance for Felons Pros and Cons
|Considers applications on a case-by-case basis
|Specific details about policies for felons are not explicitly stated
|Offers a range of term lengths suitable for different ages
|May require thorough background checks
|Straightforward online application process
|Eligibility and rates could be affected by the nature of the felony
Amica Life Insurance for Felons
Amica Life Insurance offers a range of life insurance options that are customizable and can be suited to various individual circumstances. They provide both Term Life and Whole Life insurance policies. However, specific information regarding their policies for individuals with felony convictions is not explicitly detailed on their website.
Like many insurance companies, Amica may evaluate life insurance applications from individuals with felony records on a case-by-case basis, considering factors such as the nature of the felony, the time elapsed since the conviction, and the applicant’s current situation. For detailed information about their policies and eligibility criteria, particularly for individuals with felony records, it is advisable to directly contact Amica Life Insurance or consult with an insurance agent.
Amica Life Insurance for Felons Pros and Cons
|Felons might get insured.
|It helps protect the family financially.
|Peace of Mind
|Gives a sense of security.
|May include additional benefits.
Do Life Insurance Companies Check Criminal Records?
If you want life insurance, you should be forthcoming about your past, as companies check criminal records. You could call any companies you’re considering if you’d prefer to speak with someone instead of completing an online application and tell them about yourself and what you need to know.
Life insurance without a background check would only be available through guaranteed issue whole life insurance. It is common for people to use guaranteed issue policies to avoid medical exams. Still, people with criminal backgrounds may find that guaranteed issue policies do not also require a criminal background check.
Guaranteed-issue life insurance policies can lead to higher monthly rates than average, and you might miss out on coverage options that are more appealing to you. It’s better to consider another option than a guaranteed issue whole-life policy unless you’re 65 or older.
If your employer offers a group life insurance benefit, you may want to consider it when searching for felony insurance. In cases where you do not wish to pursue insurance companies on your own or cannot afford life insurance for felons, life insurance through your employer may be an excellent option.
How Do You Buy Life Insurance If You’re A Felon?
Buying life insurance for felons involves a few extra steps, but securing coverage with the right approach is possible.
Understand Your Needs
Obtaining life insurance for felons begins with an assessment of your individual needs. This involves determining the coverage required to protect your loved ones financially if you pass away. It would help if you also considered future expenses, such as college tuition and debts. Your circumstances will also determine which type of policy best suits your needs — term, whole, or guaranteed issue.
Compare Offers and Insurers
It is important to compare quotes from multiple insurance companies because different companies assess risks in different ways, which can result in differences in policy offerings and premiums. In this way, you will find the cheapest policy and the one with the best terms for your situation.
You must provide accurate information about your criminal history. Misrepresentations or omissions could result in your policy being canceled or your claim being denied, leaving your loved ones without financial protection.
Seek Professional Help
Consider hiring an insurance broker or agent with experience securing life insurance for felons. Your insurance broker or agent will guide you through the process, help you understand your options, and advocate for you to secure the best policy terms.
Applying for Life Insurance with a Felony Record
Honesty is Crucial: When applying for life insurance, be completely honest about your criminal history. Life insurance companies will check your background, and any dishonest information may result in your application being declined.
Understand Your Felony’s Impact: Depending on the type, severity, and timing of your felony, you may be negatively affected by your application. Violent or recent felonies may have an adverse effect.
Apply at the Right Time: Applicants currently charged with a felony or on probation should wait until these issues are resolved before applying.
Choose an Experienced Agent: A knowledgeable insurance agent who understands the nuances of criminal records can help you find the appropriate company.
Consider Short-term Policies: If you are just off probation, you should consider a short-term policy. Later, you can upgrade to an affordable policy.
Explore Alternatives: Group life insurance through an employer or guaranteed issue life insurance can be obtained more easily if traditional life insurance cannot be obtained.
Seek Professional Help: Professionals with experience helping felony offenders can be very helpful.
Factors Life Insurance for Felons Companies Consider
Traditional life insurance policies may suit felons who meet certain criteria, demonstrating a lower risk profile to insurers. These criteria can include:
Time Since Conviction: Those convicted of crimes more than 10 years ago (or more than 20 years ago for some crimes) may be considered for traditional life insurance. The passage of time can indicate that the individual has led a stable, low-risk lifestyle since the conviction.
Probation or Parole Status: The applicant must not have been on probation or parole for at least 10 years. This demonstrates that the applicant has complied with the law for a sustained time.
Nature of the Crime: Traditional life insurance may be easier to obtain for felons who haven’t been convicted of violent crimes like rape, murder, attempted murder, or manslaughter. Violent crimes are often seen as higher risks by insurers.
Insurers have different eligibility rules. Some may limit the types of policies they offer to people with a criminal record, regardless of how long ago the conviction occurred. Make sure you’re getting the right life insurance policy based on your circumstances by comparing the different types of life insurance and asking about your options.
The Life Insurance Approval Process for Felony Convictions
If you are outside your probation period, you must supply information on your felony to the life insurance company you’re applying for coverage with. Companies will take all of the details of your felony into account — what the type of crime was, additional criminal offenses on your record, how long ago it occurred, etc.
For instance, if you have a felony on your record from five years ago for not paying child support but have an otherwise clean record and have since caught up on payments, your chances of getting approved for life insurance are relatively high.
However, suppose you’re just outside of your probation period and have one or more violent felony charges and a history of arrests. In that case, your chances of approval are much lower, but possible. Since you’ll be viewed as a high-risk applicant, some life insurance companies may offer you a policy at a high rate to protect your investment.
Life Insurance Options for People with a Felony
People with a criminal record have different options when it comes to life insurance:
Guaranteed Issue Life Insurance
Those with criminal records often opt for this policy since it doesn’t require a medical exam or background check. This guaranteed acceptance comes with higher premiums and lower coverage amounts, making it an ideal choice for those whose criminal history makes it difficult to secure coverage through other channels.
Term Life Insurance
Term life insurance covers a specified term, usually 10 to 30 years. Some insurers may offer this type of policy to individuals with a criminal record, depending on the nature and severity of the felony and the time elapsed since the conviction. It is a cost-effective option that provides substantial coverage for a set period, making it suitable for those seeking to cover specific financial obligations.
Whole Life Insurance
You’ll get lifelong coverage with a guaranteed growth cash value with whole life insurance. Several factors, including the nature of the felony and the individual’s lifestyle changes since the conviction, will determine whether the individual is eligible for this type of insurance. Whole life insurance generally has higher premiums than term life insurance, but it provides both a death benefit and a cash value component, making it an excellent long-term investment.
You can find the right insurance policy for your needs and circumstances when you find out what the insurance companies’ rules and limitations are if you are convicted of a felony.
Can Felons Qualify for Life Insurance Policies?
You can qualify for life insurance even if you have been convicted of a felony or misdemeanor. However, your criminal history may affect the terms of the policy and the amount of the premium.
It is common for life insurance for felons companies to consider several factors when deciding whether or not to offer a policy, including age, gender, health, occupation, lifestyle, and criminal history. Insurance companies may view your criminal record as a risk factor, charge you a higher premium, or offer you a policy with fewer coverage options.
If you apply for life insurance, you should fully and accurately disclose your criminal history. If you are concerned about how your criminal record may affect your ability to get life insurance, please do so to avoid having your policy canceled or your claims denied. If that is the case, you should speak with a licensed insurance agent or broker who will help you understand your options and find the right policy.
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Cases Where People With Felonies Obtained Life Insurance
Here are three examples of felons or those with criminal records obtaining life insurance.
There will be differences between your case and the ones below, but this should give you an idea of what to expect.
The past criminal history was the main concern for all insureds, regardless of their health and lifestyle conditions.
Moreover, these 3 cases are not guaranteed to issue life insurance situations. They are plans with instant death benefits. We have successfully helped felons obtain life insurance with immediate death benefits.
Male, age 52. He is a non-smoker and healthy in every other way. Many years ago, he was convicted of gaming chickens. This was a felony charge, and he served jail time. He obtained a $250,000 death benefit, 30-year term at standard rates.
Illegal Carry Of A Firearm
Male, age 39. He is a non-tobacco user and in good health. A court convicted him of carrying a weapon across state lines. That is a felony charge. He was on probation for 10 years. As we discussed, the only life insurance options for someone on probation or parole are a guaranteed issue plan or a simplified whole life.
He was looking for a $500,000 term policy. He obtained a $500,000, 20-year term at standard + table 2 rating.
Currently On Probation
Female, age 61. Non-smoker and no other serious health or lifestyle conditions.
Convicted of a felony and served 2 months in jail. She is currently on probation. She obtained $50,000 of whole life insurance with an immediate death benefit.
As we discussed, guaranteed issue whole life insurance or guaranteed issue term life with a 2-year waiting period was also available.
We hope this gives you an idea of the life insurance options available to people with felonies and criminal records.
Tips for Felons Buying Life Insurance
You can do a few things to make life insurance flow more smoothly. One, write an exceptional cover letter. Explained what happened with the crime(s) that took place and took full responsibility.
Second, you should show a stable workplace and whatever education you have while exhibiting a connection to service in your community.
Lastly, research life insurance policies specific to your area. This way, you know what to expect and won’t be blindsided. Here are some Guaranteed approval credit cards available to those with bad credit in the UK.
Can I Get Life Insurance If I Have a Felony Conviction?
A felony conviction can affect your ability to purchase life insurance. However, it may be more challenging and more expensive.
Can an Inmate Purchase Life Insurance?
Generally, insurance companies do not offer new traditional life insurance policies to incarcerated individuals due to the high risks involved. Even if felons are currently on probation or parole, traditional coverage may be denied to them. Prisoners need more access to financial resources and, on average, short life expectancies.
Do Insurance Companies Check Criminal Records?
Insurance companies don’t check criminal records when setting insurance rates or deciding whether or not to offer coverage to a particular individual.
However, you will appear on your criminal record and driving record for some felonies and misdemeanors, such as a DUI or reckless driving. Your rates can be affected by anything that appears on your MVR, sometimes by hundreds or thousands of dollars each year.
What Types of Life Insurance Can Felons Get?
Life insurance for felons may include term, whole, and guaranteed issue policies. The options available to those who cannot get traditional life insurance include group life insurance, AD&D insurance, final expense insurance, and annuities.
Can You Get Life Insurance While in Prison?
According to the Bureau of Justice Statistics, US state and federal correctional facilities held an estimated 1,204,300 people in yearend 2021. Life insurance is unlikely to be available to these people while they are incarcerated if they did not obtain it before. It is very risky for life insurance companies to insure someone in prison due to its associated risks.
Are There Any Specific Types Of Life Insurance Policies Available For Felons?
Felons do not have access to specific types of life insurance policies. However, some insurance companies specialize in providing coverage to high-risk individuals, including those with criminal records. Underwriting guidelines at these companies are more flexible, and policies are tailored to fit individuals with challenges.
What Life Insurance Options Do Felons Have?
Felons seeking life insurance have a few options: they can opt for group life insurance through their employer, which typically doesn’t require a background check; accidental death and dismemberment insurance, covering deaths by accident only; or guaranteed issue life insurance, especially for those over 40, offering limited coverage without health questions but with a graded benefits clause. These alternatives provide avenues for securing some level of life insurance coverage.
Final Verdict on Life Insurance For Felons
If you are a felon, you may have trouble finding affordable life insurance companies that accept felons. Remember that some life insurance agents and companies do not take on felons, but attempting to do so isn’t harmful.
If you are having difficulties getting the coverage you need from a traditional life insurance policy, you might be interested in no medical exam life insurance or burial insurance.
Ultimately, comparing rates between companies and their policies is the best way to find affordable life insurance companies accepting felons.
Discuss your options with a life insurance agent to see which companies and policies are best for you.
To compare life insurance companies near you, enter your ZIP code into the comparison tool below today to find out which companies accept felons.