Life Insurance for Law Enforcement Officers, High Risk Doesn’t Mean High Rate

If you are working as a law enforcement officer, you already know the amount of risk associated with your occupation. You must protect the citizens while risking your own life. Although every field of occupation has its drawbacks, the law enforcement industry is not a go-zone for many. As such, officers working there, especially police officers ought to be insured. The good thing is that life insurance is there for us all.

Most of the police officers think that they cannot get access to life insurance. This is because of the fear of being penalized. This is not the case because anyone in the forces can acquire life insurance at the same rate a normal civilian can get. Even though law enforcement is considered a high-risk occupation, getting affordable life insurance policy is pretty easy for anyone working there.

Because most of the police officers are offered basic life insurance as part of their benefits package, this does not mean they do not require additional coverage. Law enforcers are also human beings and have people who depend on them. As such, obtaining sufficient life coverage is a sure sign that they care much about their families.

Keep in mind that typical coverage only offers up to 4 years of salary for surviving family members. Also, the benefits you get may depend on whether you died on or off duty. Still, such basic life insurance coverage may not remain in place if you retire or quit the job. So, if you leave the job, you lose the benefit.

Remember that you still need life insurance when you retire regardless of your age. As a police officer, you need additional life insurance to keep you going even when you quit the job or retire. That said, you need to read on to understand more about life insurance for police officers.

Is It Considered a Risk?

As mentioned earlier, obtaining additional life insurance for law enforcement officers is not considered a risk whatsoever. Most of the police officers may fear that because their job is risky, the life insurance companies may charge them extra for coverage. Life insurance companies, however, are surprisingly lenient when it comes to police officers.  

And since you are not denied to buy life insurance on top of the work insurance you already have, you can choose to explore the market to find the best rates. One good thing about life insurance for police officers is that the process of acquiring the same is as simple as that of a normal citizen. Also, options and procedures remain the same.

Why is Life Insurance for Police Officers Important?

As a law enforcement officer, your life is always at greater risk while protecting the citizens. Remember that a police officer always follows instructions from their commander. As such, they can put themselves in risky situations while executing their daily duties. Even if you are a police officer, you still have a family to protect. So, you need to be concerned about your family’s financial security in case you pass on while executing your duty.

Being a police officer does not mean you can only die by the gun. There are many ways a police officer can put his life in danger. Some of the dangers of police officers may include:

• Traffic Accidents- Traffic police officers spend most of their time on the highways. While patrolling, they can be knocked by careless drivers who are trying to escape the long arm of the law.
• Careless Shootings- Police officers have been authorized to carry and use firearms. While on duty, they can shoot one another due to a disagreement, or through careless mishandling of firearms.
• Acting as First Responders- Police officers are usually placed on risky situations like crime scenes or daylight robberies. Any law-breaker around the scene would want to fire at any police officer on sight first to escape.

What are the Available Options?

Just like other civilians, police officers have access to all types of life insurance policies. As stated earlier, law enforcement officers are not discriminated when it comes to acquisition of life insurance. Right from the process of application to the options available, everything remains the same. What usually changes are the rates at which their premiums are charged. But mostly this occurs on the side of their occupation.

The available types of policies are term, permanent and no-medical-exam life insurance policies. The policies are outlined below:

• Term Life Insurance Policy- If you are scouting for the most affordable coverage, consider going for a term life insurance policy. This one offers maximum coverage at the lowest price possible. Generally, you have to pay a fixed amount of premium for that particular term for which you purchased your policy. With term life insurance, you can obtain anywhere between 5 and 30-year term policy. This policy usually comes with an option to convert, which means you can convert it to permanent once the agreed term expires. For any police officer, term life insurance is the most recommended policy to purchase.
• Permanent Life Insurance Policy- For permanent life insurance plans, you get a guaranteed fixed rate for lifetime coverage. This one is a bit costly as compared to the term life insurance policy, but payments never increase no matter how long you are going to live. It covers your entire life so no need for renewing. This is the best option for police officers with an excellent health condition. But if your health condition is below average, opt for the term or no-medical exam policies.
• No-Medical Exam Life Insurance Policy- There are two types of no exam life insurance policies. One is if you’re healthy but just want to skip a step, and the other is a guaranteed issue plan for those that can’t qualify. If you think your current health might affect your life insurance coverage, opt for one that does not require a medical examination. Although these plans are expensive, they can enable you to get coverage quickly. The no-medical policy is good because it gets you approved for coverage quickly. With regular policy, you have to wait for at least eight weeks. The only demerit with this options is that it is costly unless you are super-healthy.

What are the Additional Details a Life Insurer Will Require?

Generally, your health status is a key determinant when obtaining life insurance. Individuals who are in excellent health conditions tend to enjoy reduced premiums. But for police officers, life insurance providers not only pay keen attention to their health status but also to their lines of occupation as law enforcers.

To qualify for life insurance as a police officer, you must be thoroughly vetted. Life insurance companies would consider your risk while performing your duties as a security officer. This depends on the department you are handling in the law enforcement industry. For thorough vetting, they may ask you the following questions:

• Do you carry a firearm? Police officers that carry firearms on a daily basis are likely to pay higher premiums. Carrying a gun means that your department is a bit risky. Also, firearms are heavy, so they are likely to ruin your health in one way or another.
• Do you often go to the field? Officers that report to the field more frequently are more likely to pay higher premiums. Going to battlefields is risking your life. This means that the chances of being killed are way too high.
• What safety measures do you take? Your prospective life insurer may want to know if you take any safety measures, especially when going to the battlefields. Police officers that use bullet-proof vests and other safety attires can enjoy reductions on their premium payments.
• Do you handle high crime cases? Officers that deal with high crime cases are also at high risk of death. This is because the accused people might plan to take vengeance any time.
• What is your specialty? Your prospective life insurance provider will inquire about your job specialty. Police officers that deal with crime and country defense are at great risk of death. Traffic police officers may enjoy a cut in the premiums because their duties are not that hazardous.

How Rates are likely to Change

If you are a police officer, your life insurance rates will reduce if your rates if your health is superb. Also, if your lifestyle is relatively at low risk, your rates will also decrease. Remember rates will not increase just because you work as a police officer and your life is perceived to be in great danger.

If your department is considered to be risky, the insurer is going to assign you a table rating. This shows how your premiums will increase depending on your risk of death. Apart from the table rating, an additional fee may be added to the basic premium for a specific period. In case your duty as a police officer changes then changes to your premiums will take effect.

Getting the Best Rates

Since you already know that you can get life insurance coverage if you are a police officer, the next step is to find the best rates on the market.  Note that the market is flooded with countless life insurance companies. As such, you need to do the proper legwork to find the top-rated and financially stable life insurer.

If your health condition is not that bad, you can request an application online with a life insurance company that offers the lowest rate for the product you want. But if your health is not good at all, the rate stated as the lowest may not be the lowest according to your health condition.

Bear in mind that life insurance companies weigh health risks differently. So, depending on your current health condition, the company that you think offers the best rate will be different for another person whose health is better than yours. For that reason, you need to dig deeper to find a life insurance company that is willing to provide a reasonably-priced policy for your current condition.

Also, keep in mind that life insurance for a law enforcement officer is more likely based on health than his occupation. As such, if your health status is excellent, you are advised to secure a permanent life insurance policy. But if your health is below average, it is recommended to go for either term or no-medical exam coverage.

That said, it is good to compare quotes from different insurance providers before making up your mind. More importantly, consider working with an independent insurance agent to make sure you access the most competitive rates.

Why Use an Independent Agent?

Even for the normal citizens, finding the right life insurance policy has never been an easy task. Remember the market is full of insurance companies that claim to offer the best rates, thus getting one with the type of policy you want can be tricky. What is even more confusing is finding a service provider with affordable rates. That is why the involvement of a seasoned independent agent is very important.

If you are a police officer scouting for affordable life insurance, using an agent to act on your behalf is highly advisable. An experienced agent that works with multiple companies can help you locate a good insurance company with the most favorable premiums. Independent life insurance agents are properly-versed with the market, and can, therefore, find a good deal for you.

Apart from helping you get competitive rates, the agent can guide you through all the confusing issues so you can acquire the best policy with a lot of ease. Always consider working with a knowledgeable independent agent if at all you want to save time and money.

Life insurance is available to police officers just the same way it is available to everyone else. Any police officer is entitled to an affordable term, permanent and universal life insurance rates. Being a law enforcer should not disqualify you from obtaining the best life insurance coverage. By using an independent life insurance agent, you are likely to land the most competitive rates in the market.

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The good news is you’re in the right place. CFAinsure is an independent agency that represents over 60 A-rated companies and shops around on your behalf to get you the best rate. Give us a call today or fill out the life insurance quoter on this page and we will get you the best rate, with the best company, at no extra cost to you.