Buying Life Insurance for Inmates | How to Find a Policy for You

Every Risk and Cost You Should Know Before Buying Life Insurance for Inmates

Last Updated November 11, 2024

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A man in a jail cell reading a book. The bars are blurred in the foreground. The Final Expense Benefits logo is on the top right of the image with the words "Buying Life Insurance for Inmates" under the logo.

Purchasing life insurance for inmates can be confusing and complicated. Are you able to purchase life insurance for felons? How does a felony impact your life insurance benefit? What questions can I expect to answer? We’ll answer all these questions and more — including estimated costs from some of the top providers we work with.

If you’re looking for the most accurate and up-to-date information, call us at (866) 786-0725 from 9 a.m. to 5 p.m. every weekday. Our talented agents are ready to walk you through all the complex issues you might be facing including pre-existing conditions, getting life insurance while being an active smoker, and more.

We also have a free quoting tool that can provide you with an accurate estimate of plans that are available to you based on your age, gender, and location.

Can You Buy Life Insurance for Inmates?

Yes, you can. It may seem like an impossible task to acquire life insurance for inmates, but it’s actually easier than one may think.

Will my rate be astronomical? Well, It certainly doesn’t have to be! 

Many insurance providers specialize in working with individuals that may pose a “risk” to other providers, and your agent especially should work to get the best rate for you. Call us at (866) 786-0725 if you aren’t sure where to start or don’t already have a life insurance agent. 

Below we’ve outlined a few topics and options for those that are looking for life insurance for inmates. Although difficult at times, it’s way more possible to get life insurance for inmates then one would think.

Life insurance for inmates may not be easy to find, but it’s definitely a plausible option for those in this situation. 

The answer is ultimately yes, although your eligibility as well as your applicable rate may change based on the circumstances surrounding your potential sentence. 

It’s important to use the options available to you, as you don’t just have to pick a provider and stick with them. We encourage you to leverage your options and use this to your advantage.

There are also certain insurance companies that may produce a more lucrative rate for those in a situation relative to yours.

Can I Recieve Coverage In Jail?

It’s not illegal for inmates to entertain, or receive coverage. There are also no laws dictating who may or may not buy coverage for you as long as you meet all the applicable requirements for this process, as well as acquiring the power of attorney (so long as you consent).

Unfortunately, you are almost never able to receive coverage in jail or while awaiting trial – it’s a rare circumstance if you are accepted during this time period. 

There’s also the Power of Attorney to consider, wherein someone who is given the power of attorney may argue on your behalf, either to demonstrate that coverage is necessary or go through the motions for you while you’re incarcerated/awaiting incarceration.

How To Buy Life Insurance For Inmates

Confused on how to grab life insurance for felons? Here’s a simple set of instructions that you should follow to grab life insurance. You can also call us at (866) 786-0725 for guidance on your life insurance coverage.

Here are the steps you should follow to gain an insurance policy:

  1. Find a carrier or brokerage firm.
    Whatever you choose, make sure you trust them or have an alternative in your back pocket. Final Expense Benefits is a brokerage firm that is dedicated to finding the best insurance for you.
  2. Select a policy.
    Do you NEED a term policy? Would a whole life policy do the trick? Make sure you’re comfortable in your choices and that you have a backup plan in case something changes along the way.
  3. Assess your risk level.
    Assess your applicable risk level so that you know the boundaries you’re allowed to exist within the eyes of the provider.

How a Felony Impacts Your Life Insurance

Although the general consensus is that insurance companies will not consider candidates who are currently imprisoned, each application exists on a case-by-case basis and you should speak with your licensed agent with any concerns or questions you may have. 

We recommend being open about any potential hiccups and utilizing the resources around you. 

  1. Your current policy will most likely be voided.
    If you have a current policy, it’s more then likely this will no longer remain intact as soon as your provider is made aware.
  2. You more then likely can’t get a new policy if you’re currently incarcerated.
    Although this isn’t always true, it’s important to note.
  3. 5 years of back pedaling when applying for life insurance.
    Life insurance providers will most likely ask you to verify any unspent convictions within the last 5 years, as well as any trips in and out of jail. 

Understanding Your Risk level

With any criminal background, insurance companies will automatically consider you a higher risk applicant then someone who may not have said record. This makes getting life insurance for felons more difficult than without a criminal record. 

Specifically, how much of a risk is at the discretion of that insurance company, as well as based on the information you give them in your medical exam/questionnaire

A situation where all the above will be ignored involve a guaranteed whole life insurance policy, wherein you’re given no medical exam but as a result, a more expensive rate. This policy coincides with life insurance for inmates as a guaranteed whole life insurance policy already labels these applicants as high risk as a result of the lack of medical confirmation. 

Insurance companies will adjust your rate and/or qualification depending on the perceived risk you impose on the insurance company.

Insurance Companies Perceive Risk By...

How do providers assess your risk level? There are a lot of different factors that go into it, but the three main factors when applying for life insurance for inmates are.

  • The severity of the crime.
    A crime like first degree murder will hold more weight then a traffic violation, for example. Obviously we are not condoning illegal behavior but it is important to note that the insurance company will logically adjust your risk based on the severity of the crime, like a trial would with the time spent serving a sentence. 
  • The number of crimes.
    Do you repeatedly keep committing crimes? Was it a one time offense? The latter will at the bare minimum ensure that you are considered for coverage. If you’re constantly landing yourself in trial/jail then it is very likely that you will not even be deemed applicable for coverage in the first place. Again, the only exception may be a guaranteed whole life insurance policy where you are not even screened for applicability. 
  • The time that has passed since the crime was committed.
    It’s important to demonstrate that you’re at the very least not interested in committing additional crimes. Like above, if you’re repeatedly committing crimes and showing little remorse then the insurance companies are going to deem you as extremely high risk/not applicable for coverage.

What Questions Can I Expect To See On My Application?

There are a plethora of questions you will be required to answer if you are purchasing life insurance for felons. Here are the types of questions you can expect before you are accepted into a life insurance policy: 

  • Type of felony.
    This will heavily act in qualifying/disqualifying you for coverage.
  • Severity of crime.
    This goes hand in hand with the type of felony, and will work to heavily encourage/discourage you from coverage.
  • How much time has passed.
    How long since your sentence/conviction? Are you making an effort to remain outside of jail?
  • Did you go to jail?
    Were you sentenced to jail time? Just a fine? This is another important factor when applying for coverage.
  • Probation.
    Are you currently on probation? Were you ever on probation?
  • Have you committed any other crimes?
    Do you continue to land yourself back within the conversation of jail/sentencing? What steps are you taking now? Are you actively showing signs of improvement?

Selecting a policy

There are a few policies that may be more lucrative than others when buying life insurance for inmates. 

Below are our top choices when considering what policy to get with life insurance for felons.

Whole Life Insurance

Whole Life Insurance, or also known as traditional life insurance, is a permanent form of life insurance that contains multiple forms. The most common form of Whole Life Insurance involves a fixed premium as well as lifetime coverage in which payout will be received so long as premiums are paid. Whole Life Insurance’s payout contains a cash value that may be grown over time. In most cases, whole life insurance does not require you to fill out a questionnaire or undergo a medical exam. Most of the time, open care final expense plans applies as a guaranteed whole life policy.

Universal Life Insurance

Similar to a whole life insurance policy, a Universal Life Insurance Policy offers long-term protection and coverage, although without the luxury of fixed premiums. As a result, your premium can change depending on current economic conditions. With this in mind, your policy could potentially substantially increase as you get older. The upside to this policy type, though, is the fact that the payment schedule associated with such a policy is very flexible and allows for payments to be made at the discretion of policyholders.

Final Expense Insurance

Burial Insurance for seniors, or Final Expense plans, involves final expenses such as a funeral, ceremony, cremation, burial, what have you. These policies are similar to a guaranteed whole life policy, although at a lower premium for a lower overall payout value. Although marketed for final expenses, the payout does not actually withhold any restrictions, meaning the beneficiary may use the funds for whatever they wish.

How Much Does Life Insurance For Inmates Cost?

Here is a sample chart demonstrating some rates you can expect to see when applying for these carriers. Please keep in mind, your rate may not match these numbers exactly, even if you have similar stats to those in the column. 

Company 50 y/o Male 50 y/o Female 60 y/o Male 60 y/o Female 70 y/o Male 70 y/o Female
$49
$39
$74
$59
$107
$85
$58
$49
$76
$60
$127
$96
$44
$34
$64
$47
$110
$78
$51
$43
$64
$53
$119
$88
$82
$56
$101
$79
$158
$119

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. Rates are based on one $9.95/month unit. 

Finding a Carrier

If you’re ever in need of resources, or of an agent to work on your behalf, then never hesitate to call us. We at Final Expense Benefits partner with over 20 carriers, with: Being some of the ones that stand out among the crowd. Reduce the stress involved with life insurance for inmates and let us do all of the heavy lifting for you.  Call us at (866) 786-0725 every weekday from 9 a.m. to 5 p.m. We are dedicated to finding the right life insurance for you and your circumstance.

Frequently Asked Questions

What Happens to Your Life Insurance If You Go To Jail?

Most policies unfortunately are voided upon entering prison. You’ll have to re-enroll for a new policy. 

Do Insurance Providers Check Your Criminal Record?

Yes, as they believe it’s relevant to the risk you pose to the company. 

Can You Get Life Insurance as a Death Row Inmate?

Most likely no, as a guaranteed acceptance policy will accept you, they will have a two year waiting period. 

How Long Do I Have to Disclose a Criminal Conviction?

Most of the time, it’s 5 years for unspent criminal convictions. All spent convictions may be omitted. 

What Happens If You Don't Tell Insurance About Convictions?

At the very least, the providers can ask for your money back and/or void your claim. At worst, this could be considered fraud.