For some of us, our occupation involves a higher-than-normal risk to our safety and lives.
In some cases, these higher-risk occupations make it difficult for an individual to obtain life insurance, or, depending on the insurance company, it can come at a slightly higher price.
The experts at Claybrooke understand how important life insurance is to individuals and families and how much more critical this coverage can be for those who put their safety and lives on the line daily.
What Occupations are Considered ‘High Risk?’
The first step in securing life insurance for a high-risk occupation is identifying what “high risk” really means.
Some examples of “high-risk” occupations include those who work in the Armed Forces, such as the Army, Navy, or RAF, firefighters and police officers, offshore workers, deep sea divers, pilots, and other individuals who work at heights.
When it comes to life insurance policies, Income Protection and Critical Illness Cover, these occupations are considered to be much high risk than the average job.
Click To Compare QuotesSince individuals who work in high risk occupations face a higher degree of danger, they are often seen as a higher risk to insurance companies.
Because of this, many companies will give the individual an option with the Critical Illness Cover—they can either be placed at “normal terms” (no increase in price) or “special terms” (including a price increase).
Income Protection Insurance can be especially difficult to obtain because of the increased risk of injury or death and the strict medical requirements involved.
What Insurance Companies Need to Know
Each life insurance company is different – they will ask various questions about your health, lifestyle, and occupation from one company to the next.
Additionally, the required information will vary depending on what type of coverage, such as critical illness cover and income protection insurance, needs to be included in the plan.
In some cases, insurance agents will not require you to go into much detail about your occupations, daily tasks, and risks on the job unless you hold a high-risk position.
For those individuals who work in the Armed Forces, as firefighters or scaffolds, among other high-risk occupations, insurance companies will ask many more detailed questions.
For example, during the application process, the insurance agent may ask about your daily working tasks and where your occupation is based (such as the region in which you work or whether you work on-shore or off-shore).
They may also ask about the nature of the hazards you encounter daily, such as explosive handling or chemical exposure.
When an insurance agent evaluates an individual’s risk to the company, he or she will consider all of these aspects along with many other factors, including health level, lifestyle, and whether any pre-existing conditions exist.
Click To Compare QuotesThey will then compare this risk analysis to the required coverage, helping determine your overall insurance rates. In most cases, those who work in high-risk occupations pay significantly more for life insurance coverage than the average individual.
How Claybrooke Can Help
With the large number of life insurance agencies in the United Kingdom, all taking a different stance on high-risk occupations, it is impossible for an individual to compare them all.
In some cases, insurance agents offer exclusions for high-risk occupations, while others increase insurance rates to cover their risk.
Claybrooke is a valuable resource for finding and comparing life insurance policies that offer comprehensive coverage and are affordable for individuals.