Getting a life insurance policy is a serious business, both for the insurer and the company. The situation is usually more serious if your job is a dangerous one. Insurance companies don’t like issuing policies for people involved in dangerous jobs, and there is a reason for that. Life insurance is a risky endeavor and adding the increased instability of dangerous jobs makes the risk soar higher.
If you are involved in a dangerous occupation line, you should consider getting life insurance. After your death, the policy will cater to your family and help them cope with the financial implication of your death. However, before we delve into these jobs, you should know some things that will help you better understand what the big deal is about.
Types of Life Insurance for Dangerous Jobs
If you are involved in a dangerous job, you can consider two different types of life insurance. Look around for the best deals before settling on one.
Simplified Issue Life Insurance
The simplified issue of life insurance is very flexible and palatable if it is your first time getting life insurance. The process is straightforward. You only need to answer basic questions about your occupation, health, and lifestyle. People who do not qualify for fully underwritten life insurance often opt for this type, but it has its downsides too.
The simplified issue of life insurance is usually more expensive than underwritten life insurance. It also has less coverage.
Fully Underwritten Life Insurance
The fully underwritten life insurance is the preferred option for people knowledgeable about insurance. This insurance is comprehensive and requires a rigorous process to set up. The insurance company will ask you questions about every aspect of your life that affects your insurance. This includes your job, hobbies, health status, and social life.
When signing up for fully underwritten life insurance, you have to answer questions about your jobs to determine if it falls into the “dangerous job” category. Then, you will do medical tests after conducting background checks on you. So basically, they are trying to see how much of a risk you are.
Dangerous Jobs That Require Life Insurance
The list of dangerous jobs requiring life insurance is long, but we’ll keep this one short. Dangerous jobs expose the workers to a high risk of death or disability. We will examine five of the most dangerous jobs, insurance-wise, and if your job falls into this category, you should not delay getting a life insurance policy.
As police officers put on their uniforms every day and set out to work, there are chances they may come across death risks. This reality is especially so for detectives and other divisions of the police force that are involved in combat. They face threats from criminals who will do anything to escape the law.
Considering what they do, it is a no-brainer that getting life insurance for police officers is tough. If you are a police officer and want to buy a life insurance policy, the agent will consider how exposed you are to violence and the probability of getting hurt from it. After that, you can get suitable life insurance that will provide for your family in case of your death.
Firefighters risk their lives every time they answer an emergency. While they are professionals trained in their job, the risk of losing their lives is high. Ranked as one of the most dangerous jobs globally, it is no surprise that firefighters have a problem getting normal life insurance.
If municipal firefighters have it tough, firefighters in dangerous places such as oil rigs and mines have it tougher. If you are a firefighter and want to get a life insurance policy with your family as beneficiaries, you may have to pay more than the average office worker. Most insurance policies will not cover obvious injuries such as burns and permanent disability.
Extraction workers, or miscellaneous extraction workers as they are also called, have one of the most dangerous jobs in the world. These workers have to dig minerals out of the earth and are exposed to severe dangers from every corner. In addition, there is the threat of heavy-duty equipment causing the death or injury of workers.
In addition, extraction workers have to deal with likely health repercussions from working long hours in mines, oil rigs, and industries. Therefore, if you are an extraction worker, you should cooperate with your insurance agent to find the best life insurance policy for you. With that, you or your family can have needed financial support in case of death or injury.
Working as a pilot may sound prestigious but not when you want to get life insurance. Flying planes across miles in the sky is considered dangerous and reasonably so. During the hundreds of hours, they spend in the sky annually, pilots are exposed to several forms of danger. Internal types of danger include the possibility of a mechanical failure during flight, and external ones can come from the weather or any other reasons plans have crashed in the past.
As a pilot, if you want to get a life insurance policy, you should be ready to face some challenges. Like any other person involved in a dangerous job, you will most likely pay a higher premium than other people. If you want fully underwritten life insurance, the agent will consider variables as they affect you. These variables include your instrument rating as a pilot, the number of hours you fly annually, the countries you fly in and out, and more.
Finally, on this list, we have fishermen. Fishing is not all about catching fish on the sea and taking them to land to sell. The sea is a very dangerous place with several causes of death or grievous harm lying around. Fishers and fishing-related workers often rank in the top three of the most dangerous jobs, and it is only fitting to conclude this list.
If you are involved in the fishing business, you may have a hard time getting a life insurance policy. This category of fishers includes those involved in fish farming, fish processing, and more. Take the time to iron out the details with your insurance agent and choose the best policy for your situation.
If your job is dangerous or you know anyone whose job is, you may want life insurance. With a job that exposes you to high risks, you should provide financial protection for your family. Life insurance will give you that assurance and provide a way for your family to cope financially in an instance of death.