How Does Your Job Affect Your Life Insurance Premiums?

You’re in good health, you don’t smoke, you’re not a heavy drinker—you’d think that your life insurance premiums would be low. But carriers look at a lot of variables, including your occupation. Some jobs come with a higher risk of death, and its not always obvious which ones.

Does Your Job Put You at Risk?

Surprisingly, the fact that a job is considered dangerous doesn’t necessarily mean an insurance company will charge higher life insurance premiums. If you’re a police officer, your life insurance premiums will probably be fine unless you’re in a role that faces danger on a regular basis, such as a member of the SWAT team.

Deadliest Jobs

According to the Bureau of Labor Statistics (BLS), the top jobs that put one at risk of fatal injuries include:

Transportation incidents (40%)
Falls, slips, and trips (17%)
Violence and other injuries by persons or animals (16%)
Contact with objects and equipment (15%)
Exposure to harmful substances or environments (8%)
Fires and explosions (3%)

All of this translates to occupations such as:

Transportation/including truck driving and sales
Logging
Off shore fishing
Pilots and flight engineers
Roofing
Steel and iron structural work
Garbage and recycling collection
Electrical power line installation/repair
Agriculture management
Construction
Mining
Oil drilling
Firefighting
Law enforcement

What This Means for You

Although there are basic statistics that underwriters look at, insurance carriers use their own risk rating criteria. Rather than looking at only one provider, it’s best to work with a broker who can access rates for a variety of carriers. Find out more about different types of life insurance and compare quotes.

For more interesting facts about risky jobs that affect your life insurance premiums, see the statists at BLS.gov.