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Life Insurance for High Risk Occupations

If your job is considered high-risk by your life insurance providers, you need to know what will differ from standard life insurance policies. Some life insurance companies do not cover high-risk occupations, so finding a policy may be a little difficult. Today, we are going to look at what is considered a high-risk occupation and what the cost and differences maybe when getting coverage.

What Common Occupations Are Considered High Risk By Insurers?

The first thing we need to look at is what common occupations are usually considered high-risk by insurance companies. According to, these are the most recent top 10 high-risk, common occupations:
Fishing Industry

  • Loggers
  • Aircraft Pilots
  • Miscellaneous Extraction Workers
  • Iron/Steel Workers
  • Roofers
  • Garbage Collectors
  • Police Officers/Firefighters
  • Driver/Sales Worker & Truck Drivers
  • Power-Line Installers & Repairers

While some on this list may seem out of place, this data has been verified with statistical death rates. This is not a guide for all insurance companies, so the company you may be speaking with or seeking out may not consider some of these a high-risk occupation. It is important to bring this up with your insurance provider to make sure it is fully understood upfront what your occupation is.

What UnCommon Occupations Are Considered High Risk By Insurers?

There are other jobs that are not as common as the ones above that are going to either cost a higher premium or negate you from coverage. These are uncommon jobs that people have who most likely already know the effect their occupation has on their life insurance policy.

These are going to include:

  • Underwater Welders
  • Oil Rig Workers
  • Bull Riders
  • Miners
  • Mountain Guides

While these occupations are not going to instantly get you denied by your life insurance providers, they will cost more and trim down the list of providers who will be willing to provide insurance. While these are uncommon jobs, they are very dangerous and some insurance companies would rather not allow life insurance for these occupations.

How Is The Cost Of Your Coverage Is Determined By Life Insurance Companies?

For people who work in high-risk occupations, you will most likely be charged a “flat-extra” for your insurance policy.

This extra cost is due to the risk your occupation brings to your policy. The amount is going to be based on your occupation and the current mortality rates within your occupation. You can expect this cost to be anywhere between $2.50 to $5.00 extra per $1,000 of life insurance.

This is added to the monthly premium of your insurance policy. For a $100,000 policy that you pay $100/month for, a $2.50 flat-extra charge can turn that $100 into a $350 monthly payment. With this quick example, you can easily see how much a high-risk occupation can add to your life insurance policy.

Factors Of Life Insurance That Aren’t Related To Occupation

Life insurance policy costs are not always based on just your occupation. IN fact, there are three major factors that aren’t related to occupation. These include age, gender, and physical health.

Age – Age is one of the biggest determining factors when determining the cost of your life insurance policy. As you get older, the premium of your life insurance policy will go up. This is why getting life insurance at a young age and keeping it maintained will offer the most cost-effective solution.

Gender – While it may seem a little disproportionate, gender actually plays a big role in determining the cost of your life insurance policy. This factor is also determined by the annual chance of mortality and the gap between life expectancies from women to men is quite large.

Physical Health – Physical health is the last but certainly not least factor that will influence the cost of your life insurance policy. Smokers will be charged more as they have a higher mortality rate. Insurance providers will also look at your family’s medical history. Those who have immediate family members with heart disease before the age of 60 will usually pay a higher premium as well.

What Is The Difference In Life Insurance For High-Risk Occupations?

The biggest difference you are going to see with a high-risk job is the price.

This is of course negating approval odds. Just looking at approved applications, the cost of your life insurance is going to usually be much higher than standard life insurance policies.

While some insurance providers may not care about your high-risk occupation, most will, and they will each have their own qualifying guidelines. This means that you could apply to 5 different companies and get 5 different rates. It will all depend on your occupation, age, gender, health, and what provider you choose to go with.

How To Find Life Insurance For High-Risk Occupations

Finding life insurance with a high-risk occupation can prove to be a daunting task.

You may be rejected multiple times, but there are providers out there that will give you coverage. Many people in these lines of work talk to an independent agent for recommendations on providers for your industry or occupation. Most independent agents will be able to pitch your application to the top companies that provide policies for your occupation to help get you the best rate.

Leaving this in the hands of a professional will allow you to spend less time worrying about insurance and more time focusing on making the decision on who to choose.

Types Of Life Insurance For High-Risk Occupations

While all of this may seem a little confusing, as insurance companies make it, we are going to help you get a better understanding of the types of life insurance you may find when shopping.

Term Life Insurance – This is the most basic life insurance policy that covers a specific length of time or term. You will only get a death benefit with this policy, which is why it is so cheap.

No Medical Exam Life Insurance – This is the fastest approval life insurance policy method as it requires no medical exam.

Permanent Life Insurance – This insurance policy covers lifetime coverage and provides a cash value along with your death benefit.

Guaranteed Universal Life Insurance – This policy is going to provide coverage for your whole life, but will not have a cash value.

Final Expense Life Insurance – This policy is for covering your burial insurance or final expense coverage.