Recently, I’ve been quoting life insurance rates to several individuals who work in professions that could be considered high risk jobs. Hazardous occupations are something we specialize in here at Huntley Wealth Insurance. Here’s a summary of what rating class they could qualify for:
Linesman – I quoted an electricity power line repair man yesterday. I called several carriers and they all said the best he could get was standard. This guy has been doing power line maintenance for 27 years, and never once been injured on the job. However, there is a risk of being electrocuted or falling from your lift if you do this job, so I can understand the concern as it relates to term life insurance.
Powerline Construction, Groundsman, and Pole Setters – All are standard. Same story as the power line repair man above.
Fishing Crewman – What I’ve found here is most underwriters have a size requirement for the boat. If you’re on a ship that’s longer than 85 feet, that seems to be the cutoff where you won’t be penalized on your life insurance rates. The particular story I heard last week was a guy who works on a fishing ship in Alaska every summer. It’s good money too. He makes about 100K in 3 months. Anyway, his ship was huge… three stories high, roughly the size of a battleship he said.
Law Enforcement – I just got a sheriff as a client who got the best rating. This was a guy who was in the line of duty too, not sitting behind a desk. He is a patrol officer.
There aren’t too many professions that are penalized anymore for life insurance rates. If you are employed in a profession that could be deemed hazardous or a high risk job, be sure to go to an independent life insurance agent, who can search for the best deal for you, rather than just going to one carrier and limiting your chances of finding the lowest life insurance premium.
