Police officers do not pay any more for life insurance than anyone else. There are usually two questions I typically hear concerning Police Life Insurance. The first question is, does coverage for law enforcement officers cost more, and are these policies hard to get? Fortunately, the answer to each of these essential questions is no.
Police officers can apply for coverage just like anyone else. The application process is no different from if they were lawyers, accountants, or factory workers. Insurers never penalize law enforcement members due to their occupation’s dangers. In addition, life insurance for law enforcement officers is not considered high-risk. Therefore, you can get preferred rates if you are in good health.
Now that we put those questions to rest, we can move along and learn the best ways to apply and receive the best rates possible.
Table of Contents
- Does Life Insurance for Law Enforcement Cost More?
- Why Is Life Insurance for Police Officers Important?
- What Are the Main Causes of Death to Policemen?
- Applying for Life Insurance for Female Police Officers
- How Can I Find the Best Rates for My Occupation?
- What Type of Coverage Should I Consider?
- Is Your Group Coverage Through Your Employer Enough?
- How Can I Compare the Best Term Life Insurance Quotes?
- How Many Ways Can I Choose to Apply for Coverage?
- In Conclusion
Having sufficient coverage is necessary if you have family members to protect you or outstanding debt you don’t want your dependents to worry about after you are gone.
I don’t believe a life insurance policy is any more important to a police officer than anyone else because everyone with dependents needs to be insured. But if you think about it, the hazards of a police officer can be considered very high. This is because law enforcement members must regularly put themselves in harm’s way and rely on their training and common sense to keep themselves safe.
Unfortunately, police officer statistics have shown a higher degree of on-the-job injuries and deaths than most other occupations as the years have passed. In addition, the negative change in the judicial system has allowed criminals to evade prosecution and gives them a very early release from prison.
Many other risky occupations in this country also have many dangers that could cause severe injuries and, in some cases, fatalities. Quite a few fields will require a rate increase, such as flat extra fees to cover the added risk the carriers are taking, but law enforcement rates can typically be approved at preferred rates.
The application process will always be the same whether you are a state trooper, deputy sheriff, or police officer.
How Much Life Insurance Do I Need?
Even though your monthly expenses are essential, apply for what you can comfortably afford without your premium becoming a financial burden.
Most financial experts will say you should have approximately 6 to 10 times your annual salary to be safe. So your life insurance goes far beyond acting as a replacement for your lost income upon your demise.
There are many other significant financial obligations that you may have outstanding at the time of your death, such as:
Home Mortgage – Virtually all mortgages today can be a severe monthly expense for six-digit numbers, even if your income is still coming in, much less terminated. This is the first financial burden dependents have, even with life insurance. You must base your death benefits on your most significant expense: your mortgage payments. The average mortgage today has risen to over $410,000.
Car Payments – Most car payments today equal what mortgages were years ago. There are two or more outstanding car payments in many American homes to pay each month. Today, many people have car payments that will last for 60 and even 72 months to help reduce expenses. This can be a substantial financial burden for a police officer’s family. The average new car payment in America is now $644.00 per month.
College Tuition – College tuition for one dependent could amount to over $30,000 a year. The expense can be staggering if you multiply this based on multiple children going to college simultaneously.
Final Expenses – Your final expenses can also add up fast, but they are usually the least of your worries compared to today’s average mortgage payment. However, your final costs still have to be taken into consideration.
There are many possible causes of death, but the most common ones are listed below.
Highway Traffic Accidents – Since police officers are the first ones on the scene of any traffic incident, they walk right into the life-threatening confusion of other drivers trying to avoid the vehicles that were just involved in a collision. Sometimes a pile-up can cause many people to be killed or injured, primarily due to ice and snow. Also, being involved in a high-speed chase is extremely dangerous, where officers may be killed or severely injured.
Firearm-Related Violence – The likelihood of police officers being mortally wounded by gunshot wounds in the line of duty has always been the most significant concern and peril for law enforcement agents. Virtually any police call an officer is assigned can lead to a firearm-related experience. It is not uncommon for police officers to be gunned down while sitting in their patrol cars for no reason.
Fires & Explosions – Law enforcement officers are usually the first responders to fires and explosions. Many times they arrive at the scene before the firefighters do. Unfortunately, this puts them at risk of inhaling the dangerous toxins released from fires, fuel and chemical tank explosions. Sometimes just a short period of inhaling these fumes can cause death or injury.
Disease (COVID-19) – The year 2021 was a record-breaking year for law enforcement deaths related to disease; in this case, it was the pandemic of COVID-19. The statistics show that over 65% of police-related deaths were related to COVID-19. This is because the police have very high contact with the public and many people with substandard hygiene.
*As you know, law enforcement officers can be exposed to every hazard possible!
Being able to qualify for the best life insurance rates for policewomen works the same as their male counterparts. The only difference is that life insurance rates for women are approximately 15% less because they naturally live longer and typically take better care of themselves.
Female police officers go through the same type of underwriting requirements as men. If you want to compare police life insurance quotes for women, choose female in the gender drop-down menu on our quoting form because the default setting is set to male.
The first step to getting the best is connecting with an experienced independent agent specializing in life insurance products.
Finding the best rates is a streamlined and straightforward process. The first step is to save time, connect with an independent agent, and let him do all the leg work. This is an agent’s job, and there is no cost or obligation for the assistance.
We can give you a quick medical pre-screen if you have any medical conditions to help you choose the appropriate carrier for your needs. The most crucial step is to apply with the right life insurance company that will be the most competitive with their rates for you specifically.
Achieving the best health classification will allow you to receive the best rates. All insurers underwrite their applications differently, so using the correct insurer is essential.
Your rates will mainly be based on your health history and whether you use tobacco products. Tobacco rates can easily be over 250% more than a non-smoker’s rates.
Term life insurance will be your best value with no close to a second.
The best type of coverage will be the one that offers the most protection for the least amount of money, and that would be term life insurance. All the top carriers provide affordable term life insurance, and you can apply for it based on how long you need it.
It is typically purchased with term periods of 10, 15, 20, 25, 30, and recently with 35 and even 40-year term periods with the Banner Life Insurance Company.
On the other hand, you also have the option of Universal Life Insurance, a permanent form of coverage that will last indefinitely. The only side effect of universal life is the additional cost factor. The plan’s design will cost at least three times the price of low-cost term insurance.
You can always combine term and universal life by applying for a term policy for the most costly time, such as when mortgages and college tuition are on your list of financial liabilities. Then, universal life can be used with a smaller face amount to pick up where the term left off for an excellent portfolio of these two products.
Personal policies will be the only way to ensure proper coverage.
All police officers receive life insurance through their police department benefit plan. Many police officers think it will be enough, but it usually never is unless you are single and still living with your parents. Here are three critical questions about your employer’s group plan that need an answer.
Portability – An essential question is whether your employer-provided life insurance is portable. If you decide to leave your job as a police officer, can you continue to keep your life insurance benefits? If you choose to retire, can you still maintain your current coverage? Remember that many law enforcement officers can retire after 20 years of service. In addition, there is a difference between group benefits from one department to another.
On Duty/Off Duty – Your group coverage will depend on whether you are killed while on or off duty. An off-the-job case would usually be from natural causes or an accident. There could easily be a considerable difference in the face amount for each situation. You are going to need to know this, and it is essential.
Face Amount – The face amount (death benefit) on your department’s policy will make all the difference in the world. Your face amount may be based on your salary, which means a young new officer will have less coverage than a police officer with a higher rank and income.
Our quoting system will allow you to view all current rates from the most competitive insurers listed.
You can activate our website’s instant quoting system and compare the most competitive rates from over 40 trusted insurers. If you are female, change the drop-down menu to female since the default setting is for male rates.
The female rates are usually about 15% more expensive than the males. This is due to statistics showing that women live longer than men do. You can also call us for a quote right over the phone.
Federal law enforcement officers for the Federal Bureau of Investigation, Drug Enforcement Agency, or the Bureau of Alcohol, Tobacco & Firearms; are entitled to the same preferred rates.
There are three ways to apply, but we always recommend applying over the phone.
The easiest and most effective way to apply is over the phone. You typically always have three ways to apply for coverage. The first way is the paper application which I believe is obsolete due to its time consumption, and the 20-page application, which nobody appreciates.
The second way to apply is with an online application. This uses software, and a computer is required with an internet connection. Unfortunately, some people do not have a computer; if they do, they sometimes get confused with the software application that powers the online application system.
The best way is the telephone application, which only takes about 15 minutes. With this streamlined service, you must listen to the questions from one of the gals in the telephone application department and then answer the questions. It does not get any easier or quicker than this.
Thank you very much for reading this blog post. I hope you have a much better understanding of purchasing police life insurance. As you can see, purchasing your new policy is quick and straightforward, with no additional cost because of your occupation.
If you have any questions, do not hesitate to contact us, we will be more than happy to answer all your questions. Stay safe out there; our country needs you more than ever!
All the best,
If you have questions concerning police life insurance, please contact us today and let us help you at no cost or obligation. We are independent agents (brokers) who work for our clients, not insurance companies. Our mission is to help you find the lowest rates possible. You can also set up a specific time to answer all your questions.