Most people don’t often think about the profession they choose having any effect on the cost of life insurance, but in fact what you do for a living is a key factor in deciding how much your insurance premium will be. The truth is, from the insurance companies perspective you are at a higher risk of dying if you are battling the seas to catch fish all day than if you are double checking excel spreadsheets from a cubicle. According to the New York Times, which put a study together by the Bureau of Labor Statistics, “Fisherman and related fishing workers” top the chart for most dangerous job in America. Drowning being attributed as the most common cause of death throughout the industry. In total, fisherman and others in related fields died from workplace injuries at the rate of 200 per 100,000 full-time equivalent workers. Below is a list of the top 3 most dangerous jobs in America:
1. Fishers and related fishing workers – 200 fatalities per 100,000 workers
2. Logging Workers – 61.8 fatalities per 100,000 workers
3. Aircraft Pilots and Flight Engineers – 57.1 fatalities per 100,000 workers
Despite these statistics it might surprise you to find out that many of these workers are insurable. They will, however, have to answer insurance companies´ detailed questions, which are used to assess the prospective clients´ mortality risk.
To offset the additional insurance risk while a client is employed insurance companies often charge a higher premium, sometimes called a “flat extra”. And of course, should your job change to a less risky one you should meet with your insurance agent to petition a lower premium.
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