If you hang around insurance people, and life insurance people in particular, you will hear quite a few terms that could be considered “buzz” words for the insurance industry. One thing that many of them talk about is just how “insurable” a person is. This seems to be the standard for whether or not a person can even be considered for a plan. The thing about it is that the term is not uniform across the board, though. For some policies and some companies, insurable means one thing, while it can mean something completely different for other companies and potential plans.

So how do you know, on average, if you are insurable? One way to think about it is in terms of health. If you are going to be getting something as valuable as premium finance coverage, then you must be in good health. This doesn’t mean you have to run marathons or anything like that, but you can’t have heart disease, cancer, or anything that might immediately make you a death risk.

On top of that, insurability has a measure of financial implication to it, as well. And it means more than whether or not you can pay your life insurance premiums or not. In order to be insurable, by industry standards, you have to have a stable financial situation. This means having a job, a solid financial base, and the ability to continue on with the plan.

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