Life Insurance for Law Enforcement
Life Insurance for Law Enforcement
Considerations and Top Concerns for Life Insurance for Law Enforcement Personnel
As someone who previously worked law enforcement for six years, I feel obligated to share my expertise and knowledge on this subject. Law enforcement is a dangerous occupation. I have the utmost respect for anyone in this line of work. Being the front line for our communities and the first line of defense is nothing short of admirable.
After transitioning into Life Insurance and Financial Services, I realized something. I realized I had a special connection with others wearing a uniform and holding a badge. I want to explain how life insurance for law enforcement can impact your rates and ability to protect your family.
So how does life insurance for law enforcement personnel differ from other consumers? How will your rates be impacted? Who should you work with to avoid pitfalls in the life insurance buying stage?
Top Considerations for Purchasing Life Insurance for Law Enforcement Personnel
- Your Occupation is Dangerous.
- Your Rates May be Impacted.
- Life Insurance for Law Enforcement may differ from the average Consumer.
- Can We Get Low Rate Life Insurance?
4 Impacting Factors Explained.
So now that I have only pointed out the obvious thus far, let me explain why.
- Why may your rates be impacted?
- Why is life insurance for law enforcement employees any different?
Life Insurance carriers care about one thing primarily, your likelihood of dying. Anyone who works in this field is aware that your chance of death is higher than the average but how much?
According to https://www.cbsnews.com/media/americas-10-most-dangerous-jobs/11/ (CBS NEWS), Correctional Officers Rank #3 for the most dangerous jobs in America. Police Officers Rank #7. According to http://www.nleomf.org/facts/officer-fatalities-data/year.html, 3411 Police Officers have been killed since 2001 in the line of duty.
Let’s analyze these numbers viewing the following graph.
Police officers face some real danger every single day. They change into their uniform and begin patrolling there assigned beat. In some areas of the U.S., it may even cross their mind whether they will return home that night.
Life Insurance Carriers view professions as a major grading material when assessing risk and possible price for your coverage.
Keep in mind, life insurance for law enforcement personnel may often not be inflated at all.
It may be the exact same. Many times, it can come down to further analysis by a life insurance underwriter.
For those of you attempting to get life insurance as law enforcement personnel, you should break down the following. It may very well come up in the application process.
1.) Geography- Where are you a police officer? The location where you patrol may become a factor.
- Certain cities are deemed more dangerous than others.
- Certain areas in the United States have much higher violent crime rates.
- and, Certain cities even have higher mortality among police officers and law enforcement personnel.
Let’s look and see where you fall.
As we can see, certain cities are just more dangerous. To live in or to patrol in, plain and simple. This can be a factor that an Independent Life Insurance Agent can help you navigate and overcome. All factors when applying for life insurance for law enforcement should be considered. They also should be handled strategically and carefully.
2.) Actual Job Duties-
Are you patrolling the streets or a desk Sergeant?
How often are you exposed to risk?
This is not taking away from anyone who is a desk sergeant. You have put your time in with the department to earn this job. But, you cannot argue that the front-line officers patrolling the streets are in more danger during a typical tour of duty. Considerations such as this should be explained to your life insurance agent. It could help you achieve better rates throughout the process.
If you are a police officer, we know you are carrying a weapon for every tour, if not multiple ones. We would all agree that some Officer’s fresh out the academy, although well trained, do not have the same experience and knowledge of firearms on day one of field training. Do you hold special certifications for firearms? Are you a firearm instructor? Although the impact may be minimal on your actual life insurance rates, it could still help lower your rates. Anything you can do or show that you are safer and at less risk to due to advance certifications or knowledge may push you into better rates.
4.) What subcategory of law enforcement do you fall within? –
Swat? Narcotics? Intelligence? Gang Unit? Vice? Street Crimes?
In most police departments, you have units within. Units that specialize in certain tasks. Vice Units may handle more undercover and more dangerous work. Same goes for Narcotics and Gang Units. Do you fit one of these categories of law enforcement? These are going to pose a higher risk and may look a little riskier to a life insurance carrier. Explain to your agent your unique situation. Let him or she do the legwork for you to achieve the best rate possible.
How do We Win the Battle? Can Life Insurance for Law Enforcement Personnel be obtained at low rates? We will get to that shortly…
Now that we have covered the impacting factors of on the job duties what have we missed?
Your Overall Health Biggest Factor in your Final Rate for Life Insurance
You have now disclosed all occupational hazards but what else needs to be considered? The same as everyone applying for life insurance, your overall health.
Are you high risk due to other health concerns?
Are you overall healthy?
These will still be a huge driving force for what life insurance rate you will ultimately get. You need to disclose all relevant information to your agent. Preferably, work with an Independent Agent with many options available.
Also, one with many carriers to choose from. Some life insurance carriers view different risks more seriously. Some absorb different niche risk with more ease. Your life insurance agent should be able to help you with this matter. Do not pay more for your life insurance if you do not have to.
So now to the good stuff…. Life Insurance for law enforcement personnel….
What am I looking at here?…. What are the numbers going to come down to?
Working in law enforcement can be more dangerous than other professions. Being detailed throughout your process can help avoid higher premiums. I have seen hundreds of clients achieve the exact same rates as someone working an office job.
Did I have to explain circumstances to the underwriters?
Of course. It is not an application that should just be submitted and hope for the best,
Depending on the factors we have discussed above, you may end up getting charged with a “flat extra”. In Life Insurance you have 16 health classes you may end up in. If you have a risk such as occupation, this is most likely where the cost may increase. For example, if you have a premium of $20.00 per month and are assessed a $2.50 flat extra, that additional premium will be tacked on per $10,000.00 of life insurance coverage.
The Good News is, it is usually set for a certain period of time and then removes itself as an additional charge.
These do not make a large of an impact in most circumstances. Being rated in a less favorable health category can get expensive. For this reason alone, it is imperative that you speak to an agent who is familiar with your situation. Also, one that can work to save as much money as possible.
Do not Ignore Life Insurance Coverage
Life Insurance for Law Enforcement is Must!
If you have read this far, you are likely aware and convinced that obtaining the coverage is doable and simple. Regardless of which scenario you fall into, you cannot ignore the coverage. Your family depends on it and anyone who works behind the badge knows that they would sleep better at night knowing they were insured. If you get assessed a flat extra, get the details of how that works and how long it will remain on the policy. Do not ignore the coverage because it seems complicated or it may be a little more in cost than the average consumers. You are already working a job most cannot handle. Most of all, do another thing a lot of consumers fail to do or won’t do. Protect your family.
Life Insurance for Law Enforcement- Other Considerations
I am not going to dive in deep into these matters, but you may have other considerations to look at.
Things I am aware that is very common in law enforcement and may change your rating.
What am I talking about?
Here are some other areas to consider. Talk to your agent about if they pertain to you.
- Do you suffer from PTSD? Any job-related shooting or possibly military PTSD?
- Do you suffer from alcohol or drug abuse? This is a very common occurrence in the law enforcement job arena.
- Do you suffer from any minor or major depression or anxiety?
These are barely scraping the surface of other factors that may pertain to you. If any of them do pertain to you, do not ignore the coverage. It is just a few more things to talk to your agent about. Coverage is still obtainable with rates that are most likely much lower than you would think.
In conclusion, my main goal was to illustrate items you need to be transparent about when talking to your life insurance agent. Life insurance for law enforcement personnel may have an extra obstacle or two, but it is something that can be completed. Do not fall behind in your pursuit of purchasing life insurance to protect your family. Your end of watch, just like anyone else’s can arise any day. You are exposed to heavier risk, making it that much more important to place protection around your family.
The blog is written by Josh Martin- Founder- Good Life Protection- 4/22/2018
Josh Martin is an Independent Life Insurance Agent licensed in 47 U.S. state helping hundreds of people secure Life Insurance for affordable rates with Reputable and strong Life Insurance Carriers.