Generally, when we think about hazardous occupations, we assume that life insurance coverage is more expensive for those with dangerous jobs.
One occupation sometimes considered high-risk is that of a security guard.
However, they do not endanger themselves as often as police officers and law enforcement officials do.
Clearly, 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 9 a.m. to 5 p.m. daily.
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Availability Of Life Insurance for Security Guards
Although security guards have a higher-risk occupation, this does not mean they must 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 life insurance companies.
That said, it is essential to note that travelling abroad for periods or to dangerous areas may affect your life insurance coverage.
Click To Compare QuotesAlways make sure to disclose this type of information to your insurance agent.
It is important to note that travelling to dangerous areas or working as a maritime security guard can negatively affect life insurance coverage.
Since these activities increase an individual’s risk of making a claim, insurance companies often require higher monthly premiums to cover that perceived risk.
If you have questions about whether your occupation and travel will make life insurance more expensive, Claybrooke’s knowledgeable team is available to answer them.
Information on Income Protection for Security Guards
While Income Protection applications are available through a few UK providers, they must be filed with an “own occupation” definition.
This means that when a claim is made, it will be evaluated based on the policyholder’s exact occupation.
Using “suited” or “any occupation” definitions often gives insurance agents more room to deny the policyholder’s claim since they are comparing the policyholder’s ability to work against similar occupations to what they currently hold or any available occupation.
Click To Compare QuotesIt is also important to remember that Income Protection policies have a deferment period between the claim being made and the policy payout beginning.
These deferment periods range from one day to 52 weeks.
When choosing a deferment period, consider any other benefits you may be receiving, such as employer benefits, your current savings, and your monthly expenses.
It is ideal for your Income Protection to begin when these resources run out.
Critical Illness Cover for Security Guards
Critical Illness Cover, like life insurance policies, is accepted by most United Kingdom providers on standard terms and with normal monthly premium payments.
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.