Can I Get Life Insurance If I Am Unemployed?

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    David RacichPRO
    Fountain Hills, Arizona
    The vast majority of life insurance companies need to know the premium funding source and that’s not necessarily employment earnings. Retirement income from qualified plans or cash positions can be used as well as annuities distributions or sales of securities. Keep in mind that transaction sales of assets may have taxation ramifications. 
     
    Answered on May 27, 2013
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Can you get life insurance if unemployed?   Yes, you can purchase life insurance while unemployed. Depending on the face amount requested however, you may have have to show the ability to pay for and the necessity for a higher level of coverage. The lower face amounts would not require as much review.
    Answered on May 27, 2013
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    Peggy Mace
    Most of the U.S.
    If you are unemployed you should still be eligible for a small policy, and if you have many assets you could even get a large policy. A stay at home spouse can usually get up to the amount of coverage that his/her spouse has on them. Students who are graduating soon can often get coverage based on their anticipated income.
    Answered on December 4, 2014
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