It might seem illogical that international travel can affect your eligibility for life insurance, but it is true. If you are traveling overseas and you have diabetes, then it may add another hurdle to jump in order to qualify for a life insurance policy.
Don’t worry, there is no need to stop exploring the world and checking off bucket-list destinations, but you may want to learn more about how your specific destinations have the ability to affect your eligibility should you desire to purchase life insurance.
It’s All About the Destination
A trip to Ireland is unlikely to affect your eligibility for purchasing life insurance. On the contrary, a trip to the Middle East has the potential to impose a significant amount of risk towards your eligibility for the purchasing of life insurance.
Generally, trips within the United States or to countries like Canada, England, and Japan and Australia are not deemed a significant risk. In other words, trips to these countries are not expected to pose a potential decrease to life expectancy. Destinations that are often viewed by life insurance companies as a potential threat to life expectancy are countries that have either been consistently known as problematic or unsafe, or countries that are experiencing acute but extremely unsettling political events that pose an obvious risk to life.
For example, countries that have suddenly been plagued by terrorist activity, despite a relatively safe history, may also have the potential to affect your eligibility for purchasing a life insurance policy.
Frequency of Travel
The frequency at which you travel to hazardous countries is also a consideration that you should be mindful of. If you’ve had a single visit to a country that might be viewed by life insurance companies as potentially dangerous, you may be viewed as less of a risk of liability to the company than someone who frequently travels to countries that have a hazardous reputation.
While the majority of us immediately view countries rampant with terrorist activity as posing the most risk of liability to insurance companies, and your eligibility for life insurance, there are other potentially life threatening factors to consider when traveling abroad that may affect your eligibility for life insurance.
For example, many countries are burdened with contagious disease that impose a threat to well-being and life expectancy. Many third-world countries have little access to proper healthcare and sanitation, making the prevalence of illness and death from illness a more common occurrence. These countries will be viewed as equally as hazardous, both posing a substantial risk of liability to the life insurance company.
Weigh Your Options
While your travel destinations are certainly your choice, if you are considering traveling to a country deemed potentially dangerous or a threat to your health, it is recommended that you remain mindful that your travel destinations do in fact have the potential to affect your eligibility for the purchase of a life insurance policy.
If life insurance is a priority to you, it may be worth refraining from travel to hazardous countries in order to provide the financial security and peace of mind that life insurance provides to your family.
You will still have options to purchase life insurance, for example, non-medical exam policies may be available. Every insurance company is going to ask their own different set of questions, so if you are denied by one, do not give up, keep looking. You can also work with an independent insurance agent in order to find the best possible policy for you.