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Income protection insurance for offshore workers

Offshore workers work extremely hard. This can often involve 12-hour days with dangerous weather conditions and equipment and sometimes being at extreme heights e.g. travelling via helicopter.

This means it could be far more likely for you to become injured, or ill due to the strain of a demanding workload and a high-risk environment.

According to the Health and Safety Executive, there are 5 common health risks for offshore workers. These are:

  • Musculoskeletal disorders due to manual handling
  • Encountering hazardous substances
  • Physical hazards (e.g. excessive noise, vibrations, asbestos)
  • Biological hazards (e.g. contaminated food or water)
  • Mental health concerns (e.g. depression or stress)

If you were badly affected by any of these and left unable to work, income protection insurance can offer you an additional level of protection. This policy is designed to pay out a tax-free lump sum every month to cover between 50%-70% of your usual pre-tax monthly salary.

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YES – if you are an offshore worker, you should still be able to be covered by income protection.

Certain providers could be wary of providing cover with there being risks involved in your occupation but there are specialist providers out there well suited to this type of cover.

It is just about knowing the right insurance providers to approach. This is where our experts will be able to help.

We have helped hundreds of people across the UK find great income protection policies and life cover, regardless of factors such as dangerous occupations or health conditions that would otherwise make finding cover more difficult.

Does income protection insurance pay out for offshore workers?

YES – you should receive a pay out from your policy even if you are an offshore worker.

In fact, with a job role that often involves industrial drilling equipment, helicopter travel and exposure to dangerous gases, it makes sense to make sure you are as protected as possible.

If you were to be injured or fall ill, either in or out of work hours, it could leave you needing time off to recover. With a demanding job role, you do not want to feel rushed into returning to work before you are fully recovered.

Can I get income protection insurance for offshore workers?

There are some great policies and providers that will be a good fit when it comes to covering offshore workers. This applies to both life insurance for offshore workers and income protection.

Dangerous occupations shouldn’t automatically prevent you from being able to access cover. In fact, you can usually benefit more due to the higher risk of injury compared to other job roles.

Speak to one of our experts if you want some more advice as to which insurance providers and policies will be best suited to your needs and circumstances.

The cost of your policy can vary depending on various factors such as your age and how much cover you want. With some comparison, you can usually find one or two insurers offering lower prices for the cover you need.

Our team can search hundreds of policies across the market to find you the best deals with the most competitive pricing.

How much is income protection insurance for offshore workers?

You will find that you can often take out income protection insurance that is far more affordable than you may think.

If the company you work for has a comprehensive sick pay scheme, you may be able to defer the start of your claim pay outs. If you know you will receive sick pay for 6 months for example, you can postpone the start of your payments, so they begin after this point.

Cheaper income protection insurance for offshore workers

If looking to lower the cost of your income protection policy, there are several key areas to consider. These are:

Your age – it best to get cover in place as early in life as possible as prices will increase the older you are when you apply

Shop around – comparing policies across providers can help you find the level of cover you need at the lowest possible price

Get advice – an income protection insurance expert will be able to tell you which insurers will have the lowest prices for the cover you require

Smoking – if you are a smoker or have smoked in the past, you may face higher premiums so it is worth cutting back or quitting if you smoke currently

Health and lifestyle – making adjustments to your lifestyle such as losing weight or doing more exercise can help lower policy costs

Pre-existing medical conditions – speak to a specialist if you have any medical conditions that could affect your application

There are a several choices when it comes to level of income protection cover available to offshore workers. This is good as it allows you to choose the policy best suited to your needs and budget. There are 4 main types of income protection:

  • Short-term income protection insurance: pays out for 12 or 24 months from the point of claim. A low-cost option which is useful for periods of long term sickness that are not permanent
  • Long-term income protection insurance: pays out up to the end of the policy term meaning that you can claim for very long periods of absence. This type of cover will cost the most as the cover is the most comprehensive.
  • Guaranteed Sick Pay: will be cheaper than full income protection as it excludes any pre-existing conditions. This policy will usually pay out for up to 6 months from the point that you make a claim
  • Personal accident insurance: is usually the cheapest type of income protection insurance but can also be the most useful and will pay out for any hospitalisation over 24 hours, injuries, and accidental death

There are several areas of risk related to working offshore that could result in you needing to take time off work. These include:

  • Helicopter travel
  • Dangerous locations (areas of conflict)
  • Commercial diving
  • Hazardous materials
  • Working at heights (over 12 metres)
  • Extreme weather
  • Explosives and chemicals

Your specific job role may be less risky but there are still general risks from working in the oil and gas industry.

How do I claim on income protection insurance for offshore workers?

When ill or injured, the last thing you want is an overly complicated claims process to get the support you need. The process for an income protection claim is only 4 simple steps:

  • Contact your insurance provider
  • Complete a claim form (usually online)
  • Submit medical evidence (if needed)
  • Submit financial evidence (if needed)

After your claim has been approved, you will start receiving direct payments every month. This will continue until you return to work, or you reach the end of your claim limit (usually 12 or 24 months).

What is income protection?

Income protection will pay out a monthly tax-free payment to cover 50%-70% of your pre-tax income. You can claim on your policy if off sick for an extended time period.

How does income protection insurance for offshore workers work?

If unable to work due to long term illness or serious injury, you put in a claim and can receive monthly payments of 50%-70% of your usual pre-tax income.

Is income protection insurance worth it for offshore workers?

With a demanding workload and high risk job role, it can be a good idea to have safety net in place to protect your finances. In the event you are ill or injured and cannot work, you can receive much needed additional financial support.

We specialise in helping offshore workers find the best protection including LIFE INSURANCE, CRITICAL ILLNESS COVER and INCOME PROTECTION. We know exactly which providers will be best when it comes to offshore worker life insurance policies. Speak to our award winning team of advisors for more information.

Useful resources for offshore workers

National Careers Service – Offshore drilling worker

Health and Safety Executive – Offshore oil and gas

Gov.uk – Taking sick leave

Statista – Estimated number of jobs in offshore wind energy UK 2021-2030

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