• Life insurance is a financial product that protects your family from financial ruin if you die with outstanding financial obligations. This is why it's important to make sure you have enough life insurance. When applying for life insurance, you should be aware of three main obstacles that would prevent you from obtaining the coverage you need.
  
  

Age

• Your age can be a major impediment to buying life insurance. As you get older, life insurance becomes increasingly expensive. After age 85, most life insurance companies will not sell a policy to you. You are considered "uninsurable" since you are so close to the end of the insurer's mortality table.
  
  

Lifestyle

• Your lifestyle affects the cost of insurance for you and may prevent you from obtaining life insurance. For example, if you are a heavy drinker or drink to excess, the alcohol you consume may have damaged your liver. This damage may cause liver or other organ problems that prevent you from obtaining coverage. If you smoke, your premiums will be higher than for non-smokers.
  
  

Health

• Your current and past health conditions can bar you from obtaining insurance or can make coverage expensive. For example, if you have any heart problems, this may prevent you from obtaining insurance. If you have type II diabetes that is managed well, you will be able to buy insurance. If your diabetes is not managed well, you will pay higher premiums or you may be denied coverage. If you are on any prescription drugs, have abnormal liver function, or have any condition which could shorten your life, you may be denied life insurance.