Jobs that can increase life insurance rates
Posted in: Life Insurance
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When your life insurance policy is underwritten, the underwriters look at your life as a whole to determine how much additional risk you present based on your job, personal activities and health.
Based on statistical data, there are many jobs and hobbies that are statistically more likely to result in death and will therefore result in a higher insurance premium.
Some examples include:
- Offshore drilling workers: If you work in any capacity in offshore drilling, you can expect a higher insurance premium. Some positions, like underwater welders, may result in a declined application.
- Pilots: Pilots will be asked to complete an aviation questionnaire when they apply for life insurance. Commercial pilots may not face the same premium hikes as smaller, private plane pilots.
- Rescue workers: Rescue workers routinely enter unsafe locations in order to rescue victims of floods, tornadoes, crashes and other incidents. Unfortunately, this can increase their risk.
- Law enforcement: Some insurance companies may charge higher rates to law enforcement officers.
When you compare life insurance rates, be sure to include any information you can about the high-risk career you have so that you can get an accurate rate quote.
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