Police Life Insurance | The Complete Definitive Guide to Finding the Best Rates & Companies for 
Police life insurance is always thought of as being positioned in a high risk category which is most definitely not true. Many police officers have the misunderstanding that they are considered a very high risk and the insurers would implement higher than normal rates. Nothing could be farther from the truth because the fact is, insurance companies fully understand the risks of law enforcement. They actually compete hard for a police officer’s life insurance business with their fellow competitors.
This helps drive the rates down which is great for the law enforcement officers in the United States. You can rest assured that the life insurance companies do not penalize police officers with higher rates. Your rates will be traditionally based on your age and current health history, NOT your occupation.
Police life insurance rates are based on current medical history and age like everyone else, and not an occupation. Most members of law enforcement are in very good health due to their job requirements. This gives them a greater advantage to get preferred rates than most people.
Table of Contents
- Risky occupations can affect police life insurance rates
- Post Traumatic Stress Disorder in law enforcement
- The best companies for police life insurance
- Hazardous duties can possibly affect your rates
- Why is police life insurance more important today?
- Applying with pre-existing medical conditions
- The three main types of policies to consider
- How much coverage should you apply for?
- Comparing the best rates & companies
- In Conclusion
There are quite a few risky occupations in this country that can increase the cost of life insurance. Thankfully being a police officer is not one of them. Occupations such as loggers, farmers, commercial fishermen, ironworkers and airplane pilots are categorized as high risk and are subjected to higher rates. Police life insurance is classified as just a standard American occupation with no additional risk. With all the negative publicity on the news today, I just hope a police officers job remains stable with the life insurance industry and the rates stay where they are.
Post Traumatic Stress Disorder statistics now show that police officers are becoming more and more exposed to traumatic events more than ever before. A law enforcement officers tour of duty includes contact with recently deceased bodies stemming from homicides to accidental deaths.
They often see severely abused children that had encountered severe and brutal assaults from their own parents no less. Periodic or constant exposure to these experiences can lead to extreme stress. This can be hard on the officer both physically and mentally.
This can often lead to alcoholism, drug abuse, aggression, high divorce rates and even suicide. The modern day stress level can totally change their personality. The statistics indicate that over 15 percent of police officers in the United States experience some form of PTSD symptoms. PTSD has now become a rapidly growing problem in this country and not just limited to law enforcement.
With each passing year in this country, police officers are becoming more regularly faced with dangerous people with no respect for the law. This leads to more life threatening situations such as physical attacks and shootings. Even the list of risky occupations cannot be more perilous that the job of an American police officer.
The modern day police officer puts his or her life on the line every day to try to make the civilians able to life in a safe city or town. The crime rate is going up at an alarming level and it’s the police officer that carries the risk and stress associated with the job.
The murder rates in all the major cities in America are steadily going up along with assaults on police officers.
- Banner Life – read more
- AIG American General
- Lincoln Financial – read more
- Principal Financial
- John Hancock
- Prudential – read more
These six companies are by far, not your only choices. They just happen to offer some of the best rates for police officers. They are also all A+ rated companies with great customer service.
Only a very small percentage of law enforcement personnel are going to be involved with especially dangerous work. This could for example include being a member of a S.W.A.T. team, performing undercover narcotics investigations. Or even working with a bomb squad deactivating bombs and other explosive devices.
These types of duties could be classified as a high risk for the applicant. Unfortunately, society has become more violent than ever before. A police officer has to put his or her life on the line each and every day. Unfortunately the statistics for job related injuries and deaths are rising. Police life insurance rates have not gone up because of this.
The life insurance industry has still been taking good care of America’s law enforcement personnel. They definitely realize just how important a police officer’s job really is. In my experience, even these police officers in especially dangerous jobs qualified for preferred rates!
Always keep in mind that any existing medical conditions can have an impact on your rates. This is regardless of what kind of policy or occupation you have. An individual’s physical and mental well being is a carriers first concern. Most police officers are in good physical condition due to their job requirements.
Thanks to the insurance carriers and the independent agents. Purchasing police life insurance is a simple process with preferred rates many times as an end result. If you have any medical conditions, the company you apply with will need to fully understand what your conditions are and can they be properly controlled with medication.
Life Insurance Companies May Require a Few Additional Questions for Law Enforcement Officers
- Do you work high in crime areas? The more dangerous the area you work in can reflect a higher rate of risk to a police officers safety.
- What types of safety measure do you follow on the job?
- How often do you work in the field and out of the office?
- Do you have a specialty or special assignment which is more hazardous such as undercover narcotics or criminal investigations?
- Do you work with a partner or multiple other police officers?
The best police life insurance quotes will always be dominated by term plan designs. Affordable term life insurance is by far the most common form of coverage purchased in America. The number one concept concerning term is that it is a temporary form of coverage but it offers the best rates.
You must carefully determine what term length to apply for. The last problem you want is having your policy expire when you still need coverage. Regardless if you are purchasing police life insurance or for any other occupation. You don’t want to lose your coverage when you still need it.
The big reason for this is term plan designs have the lowest premiums and are very cost effective. When an individual looks for an individual plan design. They will find term life insurance will always offer the best rates. People can then secure the higher face amounts they desire at an affordable cost. If you are looking for the absolute lowest police life insurance quotes, term insurance will be your plan design with no close second. These plan designs will be about 25% the cost of universal life and about 1/10th the cost of obsolete whole life insurance.
Universal life is permanent coverage for you to keep in mind and consider. The UL policies are excellent plan designs that will last for the rest of your life.
All of the universal life insurance plan designs cost more. This is simply because the companies know they will be paying out a death benefit one day. In many cases, people that own term insurance outlive the policy. This outcome is always very profitable for the companies.
An excellent portfolio of police life insurance can have a term policy up front with the highest face amount. After that, a smaller universal life policy will continue after the term policy expires. The idea behind this is never leaving any gaps in coverage.
Non-Med Life Insurance
Non-Med policies are also referred to as No Medical Exam Life Insurance policies. If you are in good health, you can apply for one of the policies. At that time, you can totally skip the medical exam and blood test process.
These policies do cost a little more due to the fact the insurers don’t have the full details about your health. This means they are taking a higher risk with these types of policies. The approval times for these policies can be less than 24 hours.
This is one of the most important questions of them all. How much coverage you will need will depend on a number of important questions such as the following:
How Long Will You Require Your Police Life Insurance?
Anytime someone purchases a term insurance plan design, they will have to choose the term period the policy will stay in force. Young police officers usually have more debt to contend with because they have younger families. This usually can mean young children that will have to be supported for quite a few years to come. This normally will mean the younger officers with families will need a longer term period such as 30 years or more.
Also, a young female spouse can be restricted as a stay at home mom. That means they will have a hard time running out and getting a job if the income suddenly stops. The young police officer will usually have a mortgage that is new and recent. Then they will have a substantial nut to crack for quite a few years to come.
We also can’t forget one or two car payments in the formula along with plans for college tuition.
Do You Have Other Coverage Through Your Employer?
Many law enforcement officers today usually always have coverage through their departments that they are employed by. The face amount of these policies are usually much lower than what they really need to be properly covered.
The face amounts are usually based on their annual income with the department. A young man usually does not have enough time on the job to make much rank. This will limit his face amount on the departments police life insurance program.
What is Your Financial Budget?
Let’s definitely not forget your monthly budget. Regardless of what face amount you should actually have. How much you can actually afford will be one of the most deciding factors.
You always want to make sure you can comfortably afford your monthly premium. The industry projection is 7-10 times your salary, but what you actually need can be higher or much lower.
You can also add a dollar amount such as $100,000 of coverage for every child you have to your projected face amount.
Some financial experts recommend purchasing a face amount which is equal to 7-10 times your annual income. Purchasing the recommended face amount is one thing, purchasing what you can actually afford may be another.
Take advantage of our instant rate comparison system and compare all of your options in less than a minute. You will be able to compare close to 40 of the top rated companies and their premiums. If you are in good health and your height and weight is normal, it will be safe to use “preferred” in the health class drop-down menu. Police life insurance quotes will be determined by your health class you are assigned by the carrier.
If you have any health conditions or a hazardous sport or hobby, we can pre-screen that information with one quick call. Take your time and use it as much as you like. That is what it is there for.
Call us 7 days a week to get answers to all your police life insurance questions. There is no cost or obligation for our help. There is no sales fluff or BS here, if you are shopping for the best life insurance rates, we can help you.
We also want to say, thank you very much for your service. Many times a police officers job can seem like a thankless one, especially today. Police Officers and Military Personnel have the most important jobs in this country.
Always remember, millions of Americans appreciate what you do everyday including myself! Please take care and stay safe out there!
All the best,
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