Generally, when we think about hazardous occupations, we assume that life insurance coverage is more expensive for those who hold dangerous jobs. One occupation that is often considered to be a higher risk is a security guard – although they do not put themselves in danger as often as police officers and law enforcement officials do.
They often run a higher risk to their safety and well-being than someone who works behind a desk or at a cash register from 9a.m. to 5p.m. every day.
Information on Life Insurance for Security Guards
Although security guards have a higher risk occupation it does not mean that they need to pay more for their life insurance coverage.
In most cases, life insurance policies for security guards are accepted with standard terms by most United Kingdom insurance companies.
With that being said, it is important to note that traveling abroad for periods of time or traveling to dangerous areas may affect your life insurance coverage
Always make sure to disclose this type of information with your insurance agent.
It is important to note that traveling to dangerous areas or being a maritime security guard can have a negative effect on life insurance cover. Since these activities put the individual at a higher risk to make a claim, insurance companies will often require higher monthly premium payments in order to cover that perceived risk.
If you have questions about whether your occupation and travel will cause life insurance to be more expensive, Claybrooke’s knowledgeable team is available to answer your questions.
Information on Income Protection for Security Guards
While Income Protection applications are available through a few UK providers, it is important that they are filed with an “own occupation” definition. This means that when a claim is made, it will be evaluated based on the exact occupation the policy holder has.
Using “suited” or “any occupation” definitions often give insurance agents more room to deny the policy holder’s claim since they are comparing their ability to work against similar occupations to what they currently hold or any available occupation.
It is also important to keep in mind that Income Protection policies have a deferment period between when the claim is made and when the policy payout begins. These deferment periods range anywhere from one day to 52 weeks.
When choosing a deferment period, make sure to take into consideration any other benefits you may be receiving, such as those from your employer, your current savings, and your monthly expenses. It is ideal to have your Income Protection begin when these resources run out.
Information on Critical Illness Cover for Security Guards
Critical Illness Cover, much like life insurance policies, is accepted with standard terms and normal monthly premium payments by most United Kingdom policy providers. Keep in mind, however, that if you travel to or work in dangerous or hazardous areas, your Critical Illness Cover application will be evaluated based on the locations you visit and work in the most.
In some cases, working in dangerous areas for extended periods of time can lead to higher than normal monthly premium payments.