You know that safeguarding your family by purchasing life insurance is a wise decision. But what is the best option if you work in a field that causes underwriters to think you are at high risk of being insured? Sure the most lucrative careers are also risky, but there are ways to obtain life insurance for a low price. This week we’ll examine the jobs that increase your life insurance costs and how to get life insurance in the riskiest professions. Many mishaps at these locations may prevent if a more effective means of communication get utilized. Radios available for workers to operate and communicate with one another could be the best solution. It would allow staff members to alert one another to potential dangers before they occur, potentially preventing injuries and saving lives.
Job Hazards That Can Increase Your Life Insurance Rates
- Logging & Forestry
- Commercial fishing and trapping
- Mining and Natural Resources
- Construction
How Do I Get Life Insurance for Risky Careers?
The positions listed on this list are a lot of dedicated Ottawa jobs. Still, we didn’t mention the more common jobs of police or firefighter! How can Ottawa receive the life insurance they require and deserve if they’ve had risky careers?
Association Coverage
If you need life insurance to protect yourself from a risky job, first find out if you have the coverage of an association. It’s similar to the coverage offered by group employees. It is available to alumni, union members, and those with professional qualifications. Because it is a “group” product, you can get it without a medical examination or health or lifestyle questionnaire.
Group Coverage
Employee benefits are another option for life insurance without medical or lifestyle concerns when filling out the application. It’s worth the time of any person with an uncertain career to check the amount of life insurance accessible through the employer-sponsored plan.
A Word of Caution About the Concept of Group Coverage and Association
Limits for group and association coverage are usually very minimal. To determine the range you require, look at your household’s fixed costs for 3-5 years and determine the percentage of your income that is covered. Add in the other final expenses, such as the final tax return and funeral or burial expenses.
If you get to the total, you could find that your association or group coverage isn’t sufficient. Do not despair; you have choices!
Additional Options to Purchase Life Insurance for Risky Careers
Simple and Guaranteed Issue Policy
Simple issue and guaranteed issues is a type of life insurance policy specifically designed for people with health issues and careers that could be risky. Simple issue policies only ask a handful of health and lifestyle questions. However, it does not require exact personal information as traditionally underwritten policies.
Guaranteed issue policies have no questions about lifestyle or health whatsoever. It is impossible to deny coverage under any conditions. The principal requirement is that you don’t die within the initial two years of coverage.
Simple and guaranteed issue is an excellent way for independent contractors working in hazardous careers without coverage to acquire an insurance policy. If you work in a risky job with insufficient coverage, simplified and guaranteed issues can be an excellent way to top off. Be aware if you already have some insurance but require just a bit more to cover your needs. You can request less or just the difference between your coverage and what you require. It will decrease costs because simplified and guaranteed policies are more expensive than fully insured policies.
Make Use of a Broker
Did you know that a salesperson can only promote a single brand of goods? If you need life insurance to shield your professional reputation from risk-takers. They thoroughly understand the latest policies, the conditions required, and any policies designed explicitly for risky applicants. Search the market to locate the most affordable rate and the most appropriate insurance provider for your requirements.
How Do I Begin?
Don’t think about having enough insurance coverage to cover your family. To get the protection, you must contact one or more representatives from Ottawa Life Insurance to get a straightforward quote for life insurance. You can take care of your career as well as your insurance coverage. Call us at (613) 454-1424 or email us at info@ottawa-lifeinsurance.ca for further information.
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