Life Insurance And Traveling Internationally

​If you frequently travel abroad, you should know that traveling internationally can affect your life insurance. Also, if you spend lots of time abroad, you may not even qualify for the best class and have your application rejected. It is important to know how life insurance companies think of foreign travel. Keep reading to learn more.

Why is Traveling a Factor in Underwriting?
Upon evaluating your application, underwriters look for anything that might make you a risky candidate. It can be an illness or family history, a risky career choice like being a pilot, and other medical conditions.

For example, suppose you will go to countries at war, with endemic diseases, a lack of hospitals, and political instability. It could heighten the possibility of something bad happening if you were to go there. Countries with high mortality rates are going to be considered with more scrutiny.

Where Have You Been Traveling?
Companies group countries into different categories based on the risks they present. These categories are A, B, C, and D. The “A” category is the safest and most developed countries like Australia, some countries in Asia, Australia, and more. The “B,” “C,” and “D” categories are viewed to be less favorable by insurance companies as they may be dangerous.

How Long Will Your Travel Take?
Another important thing to consider is how traveling internationally can affect your life insurance. Although companies know that people travel abroad frequently, they are interested in what time of the year you spend outside of the country. 

What Is the Purpose of Your Trip?
Companies would like to know if your trip is business-related or a vacation. There are occupations they will consider as not risky, like those who travel as a missionary. If the trip is for leisure, you might take part in hobbies that may be dangerous, like skydiving, rock climbing, or scuba diving.

Wrapping Up
Traveling in foreign countries can affect the review of your life insurance because companies want to assess its risks. The best action is to be upfront and honest with your travel history and plans.

At Arnold, Bruce & Doerfler Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (503) 222-1951. Get your free quote today by CLICKING HERE. The coverage discussed is not guaranteed. Please contact our agents to make sure you have adequate coverage and your needs are being met. We are happy to help!