Term life insurance provides financial protection for high-risk individuals' families by offering coverage options tailored to those with pre-existing conditions or risky lifestyles.
Impaired Risk Plans, or substandard risk policies, cater specifically to individuals with higher health risks, ensuring they still have access to crucial insurance coverage, albeit at a higher premium.
For smokers, insurers offer standard term plans at a smoker's rate, reflecting the increased mortality risk, which usually leads to significantly higher premiums.
Term insurance is essential for high-risk individuals to ensure financial security for their loved ones, especially given the potential for health complications.
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