How does my trade influence life insurance?
How does my trade influence life insurance? The primary reason any sensible person in the world purchases life insurance is to provide financial protection for their loved ones in the event that person should go missing. This motivation is evident both for a head of the family who works in an office, is a university professor or, much more logically, for a police officer. What happens is that, for some life insurance companies, it is not the same to insure a university professor as it is to insure a firefighter. They consider the risk associated with the exercise of the professions as an important factor when drawing up the contract.
Therefore, when requesting a quote for life insurance, you must understand that there are high-risk occupations that can affect the price of the premium or even the eligibility of an applicant.
Life insurance applicants must answer a questionnaire where, among other data, they are asked their occupation. Insurers classify as high-risk occupations those related to construction work, mineral resource extraction, emergency workers, and police, military, and aviation-related jobs. In other words, pilots, roofers, policemen, fishermen, hunters, soldiers, farmers, ranchers, agricultural workers, workers who manufacture large iron and steel structures, garbage collectors, workers in the lumber industry or miners will receive differential treatment.
Everything does not end here. Insurers not only take into account the occupation, but also the hobbies of their policyholders. If your favorite hobby is playing chess or dominoes, this should not influence the price of your premium. If you enjoy skydiving, scuba diving, mountain climbing, or racing in your spare time, you will be looked at differently.
Hiding the truth about your profession or hobbies can disqualify your family from receiving the death benefit.
The good news is that not all insurance companies assess risk in the same way. For this reason, when looking for life insurance, going to Univista Insurance makes a huge difference since it will make it easier for you to compare different options on the market and take advantage of the one that offers you the greatest benefits. How does my trade influence life insurance?