Like many people who work to keep us safe, firefighters and firemen face an increased risk to their well-being every day just to do their jobs.
Since this profession carries a higher risk than others, many people believe that securing a life insurance policy may be more difficult and that, if they can secure a policy, it will be much more expensive in terms of monthly premium payments.
The good news is that this is not always the case – here, we will discuss what you should know.
Life Insurance for Firemen
Although firefighters and firemen work in a field that poses increased risks to their safety, they can secure life insurance policies that fit their lifestyle and budget.
In most cases, applications for life insurance for firemen are accepted at standard terms and with standard monthly premium payments.
Click To Compare QuotesThe application process is often very straightforward, given that no family or personal medical disclosures need to be made—if there are, make sure to be upfront with this information.
Critical Illness Cover for Firemen
Like a life insurance policy, critical illness cover is generally easy to apply for and secure.
Providers often do not see the firefighting profession as an increased risk for an individual to contract a critical illness, meaning they are usually accepted at standard terms and with standard monthly payments.
Although this is true of critical illness cover, it is important to note that the Total and Permanent Disability option is not available for firemen at this time but is a small part of the overall policy.
Income Protection for Firemen
Income protection policies are available at standard terms and rates for firemen, depending on the insurance provider.
When submitting the application, it is important to choose the “own occupation” option to secure the best possible policy with standard terms.
This means a claim against the policy will be assessed on the individual’s ability to work as a firefighter.
Click To Compare QuotesOwn occupation is the most straightforward definition to claim against compared to the other available definitions.
Other available definitions for income protection include “any occupation” and “suited occupation.”
These definitions mean that when a claim is filed, it will be assessed based on the individual’s ability to perform a similar job or any job.
While these definitions can be valuable, they are much harder to place a claim against, making the occupation definition option the best choice for those in the firefighting occupation.
If you need more information on these definitions, you can contact Claybrooke.
The deferment period for an income protection policy for firemen is often set up in increments between one day and 52 weeks.
This deferment period is the time that lapses between the individual stopping work and placing the claim and when the claim is paid.
When choosing a deferment option, consider the other benefits you may receive from your employer, how much financial support you will need while out of work, and your current savings.