Schedule I

How Schedule I Affects Life Insurance Underwriting

Life insurers classifications during the underwriting process to evaluate the applicant’s risk profile. An individual who admits to using substances may face increased premiums, reduced coverage, or outright denial.

Even indirect involvement—such as working in a cannabis-related business—can complicate the process. This makes it essential to understand your insurer’s stance on items before applying, as it directly affects your ability to make a successful claim later on.

Schedule I Items in Property and Business Insurance

In property or business insurance, Schedule I often refers to items of high value or risk, such as hazardous materials, antiques, or critical machinery. These items must be listed explicitly in the insurance to be covered.

Failure to disclose or inaccurately list these items can lead to claim denials. Businesses dealing with sensitive materials or high-value equipment should always ensure their documentation is up-to-date and accurate.

Common Schedule I Property Items

• Explosives and flammable substances
• Valuable art or collectibles
• High-end electronics or proprietary machinery