Shopping for life insurance for commercial fisherman may not be as simple as some other occupations. But, you can still easily get life insurance at amazing low rates. Purchasing life insurance for the more hazardous occupations has gotten much easier through the last decade. There are many top rated companies that have no problem at all insuring people with not so safe jobs. Getting the best life insurance rates for commercial fisherman just takes a little more finesse and a qualified broker.
Regardless if your fishing for crab, lobster or tuna, commercial fishing has the title of the most dangerous occupation.
Commercial fishing has more fatalities than any other occupation, period. The statistics show there are over 4X the fatalities than the second most dangerous job which is commercial logging. When you watch television shows such as the Deadliest Catch. You can’t get the full effects of the job unless you are actually there. These commercial fishermen actually have to go through this type of danger on their jobs every day.
Some of the greatest dangers stem from Mother Nature herself. A boat could capsize, a crew member could be washed overboard and many fatal injuries can happen. Just standing on deck due to flying objects because of the rough seas tossing the boat around like a child’s toy.
Your specific job description will have a major impact on your premium.
Exactly what you do onboard and where you do it is going to make a big difference in what your life insurance premiums will be. Here are just some of the main concerns a life insurance company will have.
- How long does your usual days shift last?
- Where do you fish? (what body of water)?
- Do you travel outside of American waters?
- Is there a medical officer on board?
- What type of boat do you work on?
- How long have you been fishing commercially?
- What types of safety equipment do you wear?
- Do you have any water safety or rescue training?
- How many months out of the year do you fish?
- What safety provisions does your employer use?
- What types of medical supplies are on board?
These are just some of the questions most life insurance companies will ask usually on a commercial fishing supplemental application.
As with any life insurance application, your health history is the most important factors when applying.
When the smoke clears and all is said and done. Your health history is still the most important factor which will decide your applications fate. Just for example, if you have any medical conditions either simple or serious. They will hold a lot of weight on the status of your new life insurance application.
Just your height and weight ratio is extremely important. If you are overweight or obese, your rates could either go up or your application could totally be declined. We usually run a simple medical pre-screen if any of our applicants have any serious medical conditions. Especially if they could have a serious effect on their application later in the underwriting process.
The job of your life insurance agent.
Make sure to connect with an experienced independent insurance agent. They will be able to help you secure the best life insurance rates possible. Most people don’t realize how important it is to have an experienced and qualified insurance agent. Did you know that there are two basic types of insurance agents. There are the independent agents (like us) and then there are captive agents. The captive agents work for a given insurance company such as State Farm, Geico, Allstate, Farmers and Country Financial. They work for one insurance company and have their own company in their best interest.
Independent agents give you the advantage of getting the lowest rates on individual life insurance.
The independent insurance agents do not work for any insurance companies. They also have their clients best interest in mind instead of an insurance companies. The independent insurance agents offer a full line of choices in insurance companies to choose from. This gives them their best advantage to finding the best life insurance rates for their clients. We use over 40 of the top rated life insurance companies as options for any of our new applicants.
Life insurance rates have steadily been going down.
You would normally think that life insurance rates like everything else would be going up. Life insurance rates have been going down mainly due to people living longer than ever before. Most people go to the doctor for check-ups on a regular basis and eat healthier food. Another big factor is that a large percentage of people that used to smoke, kicked the habit. A smoker’s rate on a life insurance policy is the single most important factor that would increase the rates through the roof.
A smokers policy could easily be triple in price compared to a non-smokers’s policy. Life insurance for smokers is very expensive and in many cases causes the individual to take a pass on buying life insurance all together.
Safety rules and regulations have been lowering the cost of life insurance for commercial fisherman.
Years ago most commercial fishing companies put very little emphasis on safety rules and regulations for their employees. Now labor unions and government organizations such as OSHA have been promoting much greater safety measures for commercial fisherman. The injuries and fatalities in the commercial fishing industry have gone down over 45% since 10 years ago.
Just with the help of a simple safety tether can make the difference from getting washed out to sea or strapped in the boat. Many times in the past, a fisherman that was washed out of the boat by a strong wave was never seen again.
Take advantage of our free quote engine and see what your options are in less than a minute.
Our websites quoting system will show up to date instant life insurance quotes from over 40 companies is less than a minute. Life insurance quote engines have also helped to reduce rates due to the carriers rates being compared side by side. The companies now have to be as competitive as possible because their rates are publicly displayed next to their competitors. Before the invention of quote engines, the quoting had to be done one company at a time from a rate book.
Does any of this sound complicated or confusing? Just grab the telephone and call us 7 days a week.
Normally talking about life insurance products can be confusing and boring to say the least. We are available seven days a week to help you find the best life insurance for commercial fisherman. We use quick and simply telephone applications to save you time instead of the time consuming paper applications. Take a few moments to check out our about us page to learn more about us and our life insurance business. Thanks for reading this post!