Accidents at employment are a common thing. Whether you work with a humongous machine or love your desk job, there are potential threats around you that can injure you. But, some professions are riskier than others.
As is true with any profession these high-risk jobs are also insured. But the terms and conditions of these policies are not the same. If you are also working a highly risky job between your days then this article is meant for you.
By the end of this article, you shall come to understand what these high-risk jobs are and how the policy terms differ from the ordinary.
So, without any further ado, let’s dive right into it.
What Are High-Risk Professions?
While some professions require the employee to work in a safe environment where accidents are an unwonted instance, there are those which pose a higher risk to the worker’s health and life. The latter are usually the ones that have a higher rate of fatalities or deaths as compared to others. For example, a rig worker is constantly under the threat of explosions due to negligence or natural calamities, or even accidents due to heavy machinery that surrounds them. Such professions are known as high-risk jobs/professions.
How Can Insurance Help?
Insurance provides a means to secure one’s monetary assets in the event of need. The particular case of life insurance is to offer the near and dear ones of the deceased with financial means to support their life. And it could be a life-saviour if the deceased is the only earning member in the family. Moreover, if this earning hand belongs to a high-risk profession having a life insurance policy is all the more sensible.
In exchange for a contingency cover, the insurer levies a premium from the insured, that is you in this case. The premium can be paid either in the form of monthly instalments or annually. In addition to the cover against life, the insurance policies also offer protection for income benefits. And when you are working a highly risky job, all you need is the assurance that your family can survive through a difficult time when you are incapable of doing the same for them. In a nutshell, having employment or life insurance when you are in a high-risk profession gives you the power to take on the job without having to worry about your family after you.
What Are The Rates Of Premium?
Usually, the insurance company may ask you several questions related to your health and profession, that shall concern the overall quality of your life. For example, your age, health history, number of dependants, the place where you live, and the type of job you do are all essential in deciding the premium of your insurance policy.
The sole purpose of these questions is to assess the risk factor involved in the cover provided by the insurance company. Your insurer tries to figure out the likelihood of you claiming the insurance. And when you are in a profession like police or tree surgeon, the likelihood of making the claim is also high. But, not all high-risk professions are levied the same rate of premium. The ones that are riskier than others require the insurance seeker to pay more in terms of their monthly instalments. As explained here, https://www.insurancehero.org.uk/jobs/life-insurance-for-roofers.html, roofers can get insurance at a lower interest rate depending upon the type of roofing they perform. For instance, hot metal roofers are likely to pay more premium as compared to a repairman who merely replaces and installs shingles.
Similarly, different professions involve different risk factors and therefore, are levied a different rate of premium to be paid by the insured.
Some Top Professions That Are Highly Dangerous
So now that you clearly understand the reason you should be opting for life insurance, you must be wondering if your job comes under high-risk professions category. Here’s a list of top professions that are considered highly risky by most insurance companies.
Firefighters are under the constant threat of toxic fumes and falling buildings under difficult situations. Putting their lives on the line they save hundreds of lives and thousands of worth of property from perishment. Moreover, the environment where a firefighter works, such as ships or an oil rig, are considered as riskier when compared to urban and rural areas. So, the environment where the firefighter works is also considered when deciding the risk factor.
2. Police Officers
Police officers, men and women alike, face violence in their day to day life. Almost every hard situation be it an earthquake or a mob attack, or even a rescue operation from the wild, police personnel are involved in each of them. This puts them in higher vulnerable situations as compared to most of the everyday professions.
Another profession that is considered as a high-risk one by the insurance companies is commercial off-shore fishing. Facing the deadly waves and sea-storms, these professionals spend days and weeks off the shore. Leaving them vulnerable to accidents and injuries, as they work with high raised cranes amidst floating objects such as anchors and heavy-duty fishing nets.
Depending upon the type of roofing a person performs they may be put under higher or lower risk categories, within the high-risk professions. For example, commercial roofers are at higher risk as compared to residential roofers as they work at a greater height as compared to the latter. According to a study published by a national agency, 36 roofers die out of 100,000 every year, on average. This surely puts them under the high-risk category.
Flying planes for a hobby is considered to be highly risky. On the other hand, as a profession, if you are flying planes for commercial airlines, then you can expect a regular insurance policy. Having said that, aircraft pilots are still at higher risk as more than 69 deaths out of 100,000 are reported every year.
6. Power-line Installers
Needless to say, people working at great heights to repair high-voltage powerlines are potentially at higher life threats such as electrocution or falling from the height. This puts them under scrutiny by the insurance companies, levying higher rates for the same policy.
Last but not least, loggers are often considered to be working in the most dangerous profession. This is because they often work in locations where there are no hospitals nearby, making an accident fatal within a couple of moments. These professionals work at great heights and are often injured by falling trees and heavy branches.
So, by now it is pretty much evident how these professions put human life at higher risk as compared to regular 9-5 jobs. If you’re working any of the aforementioned professions, you should expect a higher rate of interest and premium to be paid. But, the professions are not limited to these only. If you wish to enquire whether your job is a high-risk profession or not, you should consult an insurance expert. They can guide you a lot better.
At the same time, when you start with your hunt for the right policy, make sure you do a thorough comparison between the options you have. You can use online portals to get a quote to begin with. And some portals can also offer over the phone consultation to their policy experts that can assist you even better. After all, communicating with a human is better than communicating with a computer screen. All you need to do is fill up your basic details such as your age, sex, profession, annual income, etc. and you can expect a call from them within a day or two. Hopefully, we’ve helped you understand and decide what you need to do if you’re working a high-risk job to get insurance.