When it comes to life insurance, one size does not fit all. With such a diversity of professions, it’s important to make sure your life insurance is tailored to you. You’ll save money and gain peace of mind knowing that your policy provides sufficient protection for your family after you are gone.
Lawyers or bankers
If you’re in a profession such as law or banking, it’s unlikely you will need to protect yourself against physical hazards. However, consider the stress of a high-pressured office job. The toll that late nights and no downtime can take on your health and your heart shouldn’t be overlooked.
Your type of policy: Look for a policy that downplays physical risk and provides protection in the event of a stress-related injury such as a heart attack.
Doctors and nurses
Doctors and nurses surround themselves with illness and infection every day. And while the highest precautions are taken in hospitals, exposure to germs and bacteria is prevalent and not necessarily impossible to avoid. If you’re in a medical profession where the threat of picking up a potentially fatal condition is present, you might want to declare this on your life insurance application forms. Remember – you should never lie. Your fraud will be discovered and your family could get nothing.
Your type of policy: Look for a policy that provides protection against exposure to fatal diseases and less about the physical risk of workplace hazards to save money.
Construction workers and miners
Construction and mining field workers are exposed to physical risks every day, even if the highest precautions are in place. Falling beams, scaffolding, dangerous equipment, and explosives – these careers aren’t for the weak or faint of heart. If you’re around these dangers, you’ll want to make sure your life insurance policy covers death by the disaster.
Your type of policy: Look for a policy that covers death by physical harm. Your policy shouldn’t necessarily focus on exposure to infection, illness, or stress-related death.
Policemen and firemen
If you are in one of the world’s most perilous professions – working with guns or fire – then your policy must be watertight and cover you for related eventualities. You might find that your type of profession means your premiums are higher – but it’s worth it if protects your family against any further trauma in the case of your death.
Your type of policy: Look for a policy that provides adequate financial protection. You’ll need to ensure all types of eventualities are covered by being in such a daily high-risk job.
Your life insurance application will require all of the necessary information on your career in order to provide an accurate assessment. The higher your job risk, the higher your payment sum should be. While the premiums might rise, so will your peace of mind. And, if you aren’t in a high-risk profession, ensure your policy doesn’t cover any unnecessary harm exposure that’s unlikely to occur in order to save money.