Electrician’s life insurance key points

  • Life insurance for electricians is available and works the same as life insurance for any other profession. There isn’t a specific policy that’s designed for electricians
  • The outcome of your application will depend on your day-to-day job and other assessment factors, such as your age, medical history, BMI and smoking status
  • If you regularly work at great heights or in a dangerous environment (such as in the offshore oil or gas industry), your risk to the insurer may be higher and you may encounter loaded premiums or a refusal of your application
  • Electricians may also consider income protection or critical illness cover. These policies help protect your income in the event you become ill or suffer an accident during your working life

Does life insurance cover electricians?

Yes, life insurance can cover electricians. There are a range of policies available for electricians who want to provide financial security for their loved ones.

Despite the potential risks involved with your job, many insurers could offer cover to electricians at the standard price.

Your specific role and other details about yourself (including age, health, and smoking status) will determine how much you’ll pay.

Reassured specialises in finding affordable life insurance for people in many types of occupations across the UK.

Get in touch for your free, no-obligation quotes and see if we can help you save money today. Premiums start from just 20p-a-day.

Do I need life insurance?

Most people take out life insurance due to having children, buying a home or getting married.

It can provide financial protection for your loved ones if you were no longer around to support them.

A life insurance pay out could replace your income and help cover:

  • Mortgage or rental payments
  • Utility bills
  • Family living costs
  • Childcare or schooling fees
  • An inheritance
  • Funeral costs

If you’re an electrician who has ‘death in service benefit’ as part of your benefits package at work, you may still need life insurance to help supplement your benefit amount.

This is because death in service isn’t tailored to your needs and will expire if you leave your job.

Having adequate protection in place can bring peace of mind knowing that your family will be taken care of if anything happened to you.

Does being electrician affect my life insurance?

Electricians are at higher risk of electrocution and other workplace accidents, so being in this occupation could affect your life insurance.

Insurers will ask for more information about your specific role to determine the level of risk you pose and decide the outcome of your application.

Types of questions you may be asked include:

  • Do you regularly work at heights of more than 15 metres (50 ft)?
  • Do you work in the offshore oil or gas industry?
  • Do you work in an industrial or domestic setting?
  • Have you ever experienced electrocution or injury at work?

Each insurer has a different underwriting process (the process of measuring risk) so these questions will vary depending on the insurer you apply with.

If you regularly work at heights or in a dangerous environment (such as offshore) your risk to the insurer may be higher and you may encounter higher premiums (or a refusal of your application).

How much is life insurance for electricians?

Life insurance through Reassured starts from just 20p-a-day.

However, the exact cost of life insurance depends on your personal circumstances and the type of policy you choose.

Factors which are assessed during the application process include:

  • Age
  • Health
  • Smoking status
  • Weight / BMI
  • Family medical history
  • Occupation
  • Hobbies
  • Policy length
  • Policy cover amount

Insurers consider these factors to determine the level of risk you pose (the likelihood of a claim) and calculate your premiums accordingly.

The cost of life insurance will also vary between insurers, so it’s important for electricians, as well as for anyone else, to compare multiple life insurance quotes.

See if you can save money by comparing deals through Reassured.

Types of life insurance

At Reassured, we can help arrange various types of life insurance to suit different needs and budgets.

Term-based life insurance (level or decreasing) is the most popular type as it tends to be the most affordable and can help protect large costs such as a mortgage.

Level term life insurance

Provides cover for a set term (2 - 40 years) and will pay out a fixed lump sum if you pass away during the term.

Could help to cover an interest-only mortgage and/or other costs for your loved ones.

Comes with free terminal illness cover.


Decreasing term life insurance

Provides cover for a set term (2 - 40 years) and will pay out if you pass away during the term.

The pay out amount reduces each year until it reaches zero, typically in line with a repayment mortgage.

Comes with free terminal illness cover.


Whole of life insurance

Provides cover for the rest of your life, guaranteeing a fixed lump sum pay out to your loved ones when you pass away.

This type of policy could be taken out to help cover funeral costs, inheritance tax on your estate, family living costs and/or outstanding debts.


Over 50s life insurance (no medical)

Provides cover for the rest of your life and guarantees to pay out after a waiting period (usually 1 or 2 years depending on the insurer).

Acceptance is guaranteed if you’re aged 50 - 85 and you don’t need to declare your occupation or any pre-existing medical conditions when you apply, making it ideal for applicants who are deemed as high-risk on standard applications.

Comparing policies and quotes through Reassured can help you to find the right policy at the right price. Make the most of our fee-free comparison service today.

Other types of insurance for electricians

There are other types of insurance available for electricians that can help to protect your income if you become seriously ill or suffer an accident during your working life.

Arranging such protection could be particularly beneficial if you’re self-employed and not entitled to statutory sick pay (SSP) through an employer.

In the UK, there are around 600,000 accidents at work, with the most common types being slips, trips and falls, as well as handling, lifting or carrying[1].

Policies that can help protect your income include:

Critical illness cover for electricians

When taking out life insurance through Reassured, it could also be possible to add critical illness cover to your policy for an additional cost in your premium.

Critical illness cover provides you with a lump sum pay out if you’re diagnosed with a critical (but non-life threatening) illness during the policy term.

It usually covers around 30 conditions, for example:

  • Cancer (advanced cases)
  • Stroke
  • Heart attack
  • Blindness

The pay out can be used to help cover financial commitments and/or private medical treatment while you’re unable to earn an income.

Exactly which illnesses your policy covers, and the cost of your premiums, may be affected by your occupation if your level of risk is higher to the insurer.

Compare free life insurance with critical illness cover quotes through Reassured and find out if this could be a suitable option for you.


Income protection insurance for electrician

Income protection is a type of policy that pays out in monthly tax-free payments if you’re unable to carry out your job due to an illness or injury.

Unlike critical illness cover, income protection will cover most illnesses or injuries that prevent you from working (rather that a specified list).

The payments can help you to cover things like your mortgage or rent, household bills, and other essential costs until you’re able to return to work.

There are short-term and long-term income protection options and in many cases it’s possible to tailor the cover to suit your needs and budget.

Some electricians may be offered a policy with higher premiums or be refused cover if the risk of a claim is a higher due to their specific role.

For more information, see our income protection insurance guide, or get in touch for your free quotes (available through Reassured).

Best life insurance for electricians [free quotes]

Comparing quotes from different insurers can help you to weigh up your available options and find the right policy at the right price for you.

At Reassured, our team are used to arranging life insurance for electricians as well as for other professions, allowing us to identify which insurers from our panel are best suited to your circumstances.

Our quotes are free and without obligation, so there’s nothing to lose. We simply work hard to help you save money.

Compare life insurance for electricians from top UK insurers today through our award-winning broker service.

Sources:

[1] https://www.hse.gov.uk/statistics/causinj/index.htm

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