Occupations life insurance, critical illness cover and income protection

The facts about getting occupations life insurance

When searching for any occupations life insurance you are likely to see special terms applied by your life insurance company for high risk occupations. How much loading, or the type of special terms that would be applied to your life insurance application will vary based on underwriting criteria and your profession. For people in the armed forces, security guards or police officers, premium loading or ‘exclusions’ are very likely. When making any life insurance applications for occupations life insurance, your insurance company will need further details of your working conditions.

What does Occupations life insurance cost?

The amount your occupations life insurance will cost, depends on what high risk occupation you work in and how high is the increased risk of cover. Some questions your life insurance company may ask during your occupations life insurance application are:

  • Are you working at heights (e.g. construction, aerial riggers)?
  • Are you required to work with dangerous machinery?
  • Does your job require you to use fire arms (e.g. armed forces, police officers)?
  • Do you work abroad or travel (e.g. offshore workers)?
  • What hazards are involved?

Your premiums for Occupations Life insurance will also depend on:

  • Sum assured (£’s)
  • Term of cover (years)
  • Type of policy (e.g. Family, Mortgage, Whole of Life etc.)

Occupations life insurance rates/ratings

For people working in high risk occupations, occupations life insurance rates can quickly become expensive. Your life insurance company will use a risk-based scale to decide if there is an increased risk of claim. Your premiums for occupations life insurance will then be raised to accommodate this increased risk. You may also see special terms like ‘exclusions’ add to your occupations life insurance.

Percentage (%) loading for Occupations life insurance

If your life insurance company identifies increased risk to your occupations life insurance policy, you may see percentage loading applied to your premium. Percentage loading will raise monthly occupations life insurance premiums by a set percentage. The amount of available loading varies between insurance providers, this means if you have been declined in the past you may find occupations life insurance possible elsewhere (e.g. 250%, 400%).


Basic premium
% loading
Final premium
£20.00 50% £30.00
£20.00 100% £40.00
£20.00 150% £50.00
£20.00 200% £60.00
£20.00 250% £70.00

Per mille loadings for Occupations life insurance

‘Per mille loading’ is only rarely applied in cases with severe pre-existing conditions. As such, you are unlikely to see ‘per mille loading’ applied to your occupation’s life insurance premiums. If applied, ‘per mille loading’ would raise monthly occupations life insurance premiums by a set amount (e.g. £1, £2) per thousand £’s of cover applied for. ‘Per mille loading’ is very flexible and your life insurance company apply it to policies for specific periods of time.

Exclusions for Occupations life insurance, critical illness cover or income protection

If you work in a high-risk occupation, it is likely to may see special terms (‘exclusions’) added to your occupations life insurance policy. An occupation ‘exclusion’ would prevent you from placing any claims against your occupations life insurance that are related to your high-risk occupation. This could make your occupations life insurance expensive and impractical, so it is important that you check your policies wording very closely. An ‘exclusion’ could also prevent you from accessing benefits such as Total and Permanent Disability, Waiver of Premium and Guaranteed Insurability.

Without a consultation we cannot help you decide how much occupations life insurance to apply for. We can, however, provide a few guidelines that can help you to make an informed decision. Remember that your occupations life insurance premiums could increase after underwriting and this could impact your policies affordability.

  • The amount left to pay on your mortgage.
  • Any outstanding debt (e.g. Loans, second charge, credit cards and other)
  • Dependants
  • Spouse or Partner
  • Annual Income (after Tax)
  • Any financial assets (e.g. car, house, business etc.)

If you feel unsure or require more information to decide how much occupations life insurance you will require to secure your family and home, see our Iam Insured insurance calculator [LINK].

Occupations life insurance critical illness cover will help provide financial protection should you become unable to work. With critical illness cover, you will receive a tax-free lump sum in the event you need too claim. Underwriting criteria for occupations life insurance critical illness cover can quite strict and you are likely to find ‘exclusions’ or higher premiums attached to your high-risk occupations cover. When deciding on the amount of occupations life insurance critical illness cover, be sure to account for:

  • Your annual Income (after Tax)
  • Mortgage/rental payments (annual)
  • Cost of living (annual)
  • Any other potential costs (e.g. medical treatment or adaptations)

Income protection insurance provides financial protection should you become unable to work. However, unlike critical illness cover, policy holders will receive monthly payments. This type of occupations life insurance can provide valuable financial protection and is often obtainable for people in high risk occupations. Insurance applications for occupations life insurance income protection insurance will often receive some loading or special terms. When discussing how much income protection insurance you should apply for, consider:

  • Monthly income (after tax)
  • Mortgage/rent payments
  • Debts (other)
  • Cost of living

Occupations life insurance is often obtainable on the standard market. For high risk occupations you could benefit from seeking out a specialist life insurance company who can help you find the best insurance rates. If you have been declined for occupations life insurance in the past or work in a higher risk environment, Iam Insured can help.

Iam Insured are a specialist occupations life insurance company with years of experience helping people in high risk occupations find cover. Iam Insured are authorised and regulated by the financial conduct authority. For a complete list of high-risk occupations or specialist advice, call us now on [TELE] or send us an email [EMAIL].

Occupations life insurance, critical illness cover and income protection insurance are very valuable policies and can help provide people in high-risk occupations with immense peace of mind. If you are having trouble finding quotes for critical illness cover and income protection insurance that suit your needs, consider a specialist occupations life insurance company like Iam Insured.

Our team of insurance experts will help you to get some of the best deals from the UK’s top companies to save you money.

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