Police Life Insurance | Intuitive New Guide to the Best Rates for 
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. The insurers never penalize members of law enforcement due to the dangers of their occupation. In addition, law enforcement IS NOT considered high-risk insurance. 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 So Important for Police Officers?
- What Are the Main Causes of Death to Policemen?
- How Can I Find the Best Rates for My Occupation?
- What Types of Coverage Can I Apply for?
- Is My Coverage Through the Department 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 or outstanding debt you don’t want your dependents to worry about after you are gone.
I don’t believe that a life insurance policy is any more important to a police officer than anyone else because everyone who has 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 have to 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. As a result, quite a few fields will require a possible 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.
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 having 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 number one financial burden dependents have, even if they have life insurance. You have to base your death benefit 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 the 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 type of police call an officer is assigned to can lead to a firearm-related experience. It is not uncommon for police officers to be gunned down while just sitting in their patrol cars for no reason at all.
Fires & Explosions – Law enforcement officers are usually the first responder 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 and explosions of fuel and chemical tanks. 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, and 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 well know, a law enforcement officer can be exposed to every hazard possible!
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 and 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 so 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 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 will 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. This plan 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 of your life, such as when mortgages and college tuition are on your list of financial liabilities. Then, the 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.
Having your coverage will be the only way you will be sure to have reliable and sufficient coverage in force as long as you need it.
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 needs an answer.
Portability – An essential question is if your employer-provided life insurance is portable or not. 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? Keep in mind 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 if you are killed while on-duty 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 the 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 of the most trusted insurers. If you are a female, change the drop-down menu to female since the default setting is for male rates.
The female rates are usually about 15% more in cost 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 telephone.
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 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, and if they do, they sometimes get confused with the software application that powers the online application system.
The best way is the telephone application we use, which only takes about 15 minutes. With this streamlined service, all you have to do is 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; this country needs you more than ever!
All the Best,
If you have questions concerning police life insurance, contact us today and let us help you with 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.