Are You In Danger?

Do you consider your job dangerous? Hazardous to your health? Possibly fatal? You might not think so but it could be. Some jobs are just plain more dangerous than others. Steel workers, roofers, police and first responders, even professional fishermen and farmers work jobs considered to be more dangerous than your ordinary tax accountant. (Although the tax accountant might be more hated.)

As with any insurance, it is very important to keep paperwork and/or company name available to your beneficiaries when the time arises. It is as simple as registering on a life insurance database to guarantee this information will never get lost and become a lost life insurance policy.

Your life insurance is designed to be the protection your dependents and loved ones need after you die, financially if no other reason. If you don’t have any dependents or no one is looking to you financially for support, you probably don’t need life insurance. Think about some of the more important reasons to have life insurance:

  • you have children
  • your spouse is dependent on you for income
  • you have older parents depending on your income
  • your retirement or savings isn’t going to be enough for your family if you’re not there

In fact, if you work a potentially dangerous or life-threatening job it’s even more vital for you to find and pay premiums on a life insurance policy.

Along with life insurance you should also consider investing in some disability insurance. High-risk jobs often come with a high risk of danger and the very real possibility of becoming disabled, even on a temporary basis. If you’re depending on government or union programs to assist you if you become even temporarily disabled, don’t! Many of those programs come with limited benefits and very restrictive qualifications. It’s possible the company you work for offers Accidental Death and Dismemberment insurance at little or no cost. But do consider the additional purchase of a disability insurance policy on your own. Even if the personal disability policy costs more it’s also likely to have more in the way of benefits. That disability insurance follows you from job site to job site and company to company. If you switch jobs your employer disability insurance may not follow, leaving you without coverage when you need it.

There are many types of disability policies out there. If you already have a life insurance policy you may have the option of adding a disability rider to it at any time. A disability income rider provides a regular income for you if you’re unable to work. It’s also likely you can purchase a waiver of premium rider, covering the cost of your premiums during this period also. Often you have to meet certain qualifications for these riders to come into effect so be sure and discuss this with your insurance agent or representative. An accidental death rider is a good ‘in case’ rider to have on your policy in any event and is generally not a very expensive addition to your life insurance premiums. Shop around for the best life insurance coverage and find the policy that’s going to meet your needs. Compare policies with similar benefits and ask about purchasing additional accident and disability insurance or riders. Don’t be risky with the future of your family just because your job puts you at risk.

Until next time,Michael Hartmann
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