Does Life Insurance Cost More If Someone Is In A Seemingly Dangerous Profession?
Posted January 25, 2010 – 4:27 pm in: structured settlements FAQWould the insurance cost more if someone were in a profession considered dangerous (police, firefighter, military, ect) vesus an office job?
Tags: Cost, Dangerous, Does, Insurance, Life, More, Profession, Seemingly, Someone
6 Comments
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When trying to find out what the most dangerous profession might be then, perhaps it is a good idea to turn to insurers. When life insurance premiums are calculated, the risk connected with a person’s occupation is taken into account and reflected in the final price. They have a list of high-risk jobs and if someone’s career falls into this category, they may find they are paying more than someone with exactly the same weekend lifestyle but a sedentary desk job Monday to Friday.
Yes, unless it is group life. Then, the rate is determined by the mortality rate of the entire group, such as all county employees, and not just the individual cop. BTW, mortality tables show that the three you mentioned are not overly dangerous. Try being the night clerk at the 7-11 store, or an electrician, or a commercial fisherman, or a miner. Cops, firefighters and military are pretty far down the list.
It depends on the insurance company……..Military would definetly be a concern to the insurance company……..
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It can, yes. The insurance companies often use employment data to figure out part of the risk potential.
Some professions may not even be insurable, such as bomb disposal guy.
yes