February 13, 2020
Can I get life insurance if I work in a dangerous occupation?

Can I get life insurance if I work in a dangerous occupation?

Our client

We were approached by Mr D, a 46-year-old gentleman, who was looking for some life insurance. However, in his own words, he “wasn’t putting much effort” into his search due to his incredibly high-risk occupation.

He was finding it very difficult to find any affordable cover and, due to his frustration, was on the verge of giving up on the whole idea. Mr D is a Saturation Diver ( classed as a dangerous occupation) and undertakes a very specialised form of diving as part of his daily duties.

His role requires him to carry out maintenance work on under-water oil pipelines with no use of explosives. The dives last three to four hours per day and are carried out up to a maximum depth of 60 metres.  He works on a seven-week on/seven weeks off shift pattern and can spend up to 4 weeks in a decompression chamber prior to diving out in the Arabian Sea.

Our advice and process

Once we had a good understanding of Mr D’s occupation and his protection requirements we started our research process.

Would insurers add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk)

Could they exclude death relating to his dangerous occupation?

Might they decline his application? We want to avoid wasting time by making applications which may be declined.

With a dangerous occupation all Insurance providers have their own underwriting criteria and we contacted them all to find the best outcome for our client.

The outcome

After completing our research with the many different insurance providers we work with, we found one company who would accept an application from Mr D with no exclusion for diving.  On the condition that he pass a medical screening with one of their appointed nurses, they would look to increase his premium by £1 per £1000 insured.

Mr D needed £400,000 of Life Insurance to protect his mortgage over the next 25 years.  After adding the additional loading which was taken into account due to the increased risk that his job poses to his life, his premium came to a total of £125.30 per month.

As this cover was by far the most affordable policy that Mr D had been offered, he was delighted with the outcome and asked for the policy to be put in place as soon as possible. He now has the peace of mind that if something bad were to happen to him at work, he has the cover in place that his young family needs.

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Client ID no. 147256981

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof

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Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

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