Shopping the market for life insurance for steel & ironworkers can be challenging at times. Especially if you’re not using the correct life insurance companies. This depends on exactly what your job duties are. But it has become much easier to apply and even see preferred rates being issued.
The job of a steel worker is plain and simple. It can be a very hazardous occupation but using the modern safety measures can make all the difference in the world.
The dangers that are associated with ironworker industry fatalities have been well documented throughout the years. The number one leading cause of death. This results in over 45% of the deaths related to the construction work employees.
Your rates will mainly be based on your health history. The fact that you are a steel worker will not represent an issue. Iron workers all around the country have been issued preferred rates using the correct insurers.
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Independent insurance agents such as ourselves are also known as brokers. We have the advantage of having access to virtually every life insurance company on the market. Independent agents do not work for an insurance company as the captive agents do.
Captive agent examples would be State Farm, Farmers, Geico, Allstate and Country Financial. The brokers can shop the market for you and target the company that will offer you the best life insurance rates.
If you have medical conditions either mild or serious. We run a simple and quick medical prescreen to help choose the most applicable carrier for you to apply with. Choosing the correct company to apply with is the most important step to obtaining the lowest rates. Using ironworker friendly companies is crucial to getting the best rates.
Every carrier has their favorite niche markets and low rates to go along with them. One company may have no problem insuring the lives of steelworkers and another company may be a bit more hesitant. Your agent (hopefully us) has to carefully shop the market for you.
The company you apply with is the most important ingredient in the formula to finding the lowest premiums. Hazardous occupations, sports or hobbies can have a considerable impact on your rates.
- Have you been diagnosed with any chronic medical conditions?
- Are you active in any dangerous sports?
- Do you have any driving record related issues such as a DUI/DWI?
- What is your current height & weight?
- Do you drink alcoholic beverages and if so how much?
- Have you used any forms of tobacco products?
- Do you use any form of narcotics on the job (prescription or otherwise)?
There are more medical related questions than this but these are some of the main questions they will ask ironworkers applying for coverage.
Safety related questions the insurers are concerned with
- What kind of specialty training have you had or planning to have?
- Do you wear or use any safety equipment or clothing?
- What is the exact name of your occupational job title?
- Are there any activities that you perform that are considered more hazardous than others?
- Does your employer offer any safety classes for you to attend?
- Does your employer have any safety measure you must follow each day?
A great choice would be term life insurance which is a temporary form of coverage that stays in force for a specific term period. Most of these policies can be purchased with a term period of 10 to 40 years in length. The 20 year term insurance policy is the most popular plan design.
If you are looking for a permanent policy that will last the rest of your life, universal life would be a very good choice for you. These plan designs will last forever as long as you continue to pay your premiums. Whole life insurance is far too expensive and many companies don’t offer it anymore. Whole life used to best the most popular plan design, but is is now virtually obsolete for most people’s needs. It is far too expensive!
In the US, the occurrence of job related fatalities are now higher in aging (over 45) steel workers. This is due to the normal conditions that aging brings. Such as slower reflexes to react to danger or a possible accident. Other conditions are some loss of muscle strength and reduced vision and hearing.
Statistics show ironworkers over age 45 have a higher accident rate
This is due to the normal conditions that aging brings to the table. Such as slower reflexes to react to danger or a possible accident. Other conditions are some loss of muscle strength and reduced vision and hearing.
These can alert a worker to danger and make a fast decision what to do. All this is perfectly normal and it is simply brought on by the aging process. Nevertheless it increases the odds of having a serious job related accident. Also consider medical conditions are more prevalent in the above 45 age class.
Falls are the biggest dangers on a construction site
The statistics will usually reflect the top of the list of the most dangerous jobs to have in the United States is the iron and steelworker industry. This is due to the high degree of slip and fall related accidents high in the air. Structural and reinforced iron and metal workers are employed in all parts of the U.S.
But most work in the major cities where the largest percentage of commercial and industrial construction takes place on a regular basis. This is where safety first is the most important goal.
The statistics show that work related deaths from falls among Iron and steel workers are over 10 times higher than the traditional construction worker. More Iron workers and Steel workers are killed from falls than all other construction type occupations put together.
This is always a possibility which will totally depend on your job description. If you work over five floors or over 50 feet up, an additional premium can be charged. If your job is especially hazardous an additional premium can be charged accordingly.
They could modify your health classification for example from preferred to a standard classification. The carriers could also add a flat extra charge. A typical flat extra charge is a dollar amount such as $2.00 for every $1,000.00 of life insurance coverage.
A flat extra could be added plus the health class could be changed both at the same time. This is based on exactly how dangerous your job is. Many times an additional charge is not even added when your using a more liberal life insurance company.
The best way to apply for life insurance for steel workers
Applying for life insurance is now very easy and quick. We offer simple telephone applications which only take about 15-20 minutes to complete.
About all an applicant has to do is sit down and simply answer questions while one of the girls completes the answers on her computer over the phone. We usually never use the obsolete and time consuming paper applications. Completing a 20 page paper application is a sure fire way to get writer’s cramp.
You can compare over 40 of the best life insurance companies and see all the options from companies to premiums to choose from. You can change the health classifications by using the simple drop down menu.
If you are in good health, choose the preferred rates to review. These rates are all accurate and up to date. We are always available to give you premium quotes right over the phone especially if you have any medical conditions.
If you’re a steel worker or whatever other construction trade you may be in, feel free to contact us 7 days a week for no obligation help and provide answers to all your questions. Purchasing life insurance is now a simple and quick process. No matter what your job description is, we can find a policy to fit your specific needs and budget.
If you need life insurance fast or you do not want to take a physical, No Medical Exam life insurance may be a very good choice for you. You can actually be approved in less than 24 hours.
All the best,
You can set up a time to go over all your options at your convenience and get all your questions answered. There is no cost or obligation for our help!