Most dads need life insurance to secure the financial…
Yes, you could secure life insurance as a truck driver.
Your life insurance application and premiums (monthly payments) can be affected by your personal and occupational information. However, being a truck/lorry driver is unlikely to impact your ability to secure cover.
Approximately 268,000 people were employed as HGV (heavy goods vehicle) drivers in 2021.
While lorry drivers require additional licences and extra qualifications for dangerous jobs, there could be the potential for some occupational hazards (depending on the type of driving you do).
With your vehicle, cargo and other drivers presenting potential risks, it’s important to look at securing life insurance if the worst were to happen to you.
This way, your loved ones will have some financial stability if you were no longer around.
Secure life insurance through Reassured. Simply contact us today or check how much life insurance you require with our life insurance calculator.
Keep reading as we explore:
No two truck drivers will pay the same life insurance premiums, and there's no specific lorry driver life insurance product.
How much you pay depends on your personal circumstances, and your occupation.
Life insurance providers will use this information and combined policy details, such as the policy term and level of cover required, to find personalised quotes.
The below table provides information and reasons for some of these variables:
|Personal information||How it impacts premiums|
|Your age||The younger you are, typically, the cheaper your premiums will be|
|Your BMI/weight||If your weight or BMI is above or below average, you may face increased premiums|
|Your current health||Any pre-existing health conditions (conditions that are present at the time of the application) can impact premiums|
|Your smoking status||Smokers and those who use nicotine substitutes pay more than non-smokers|
|Level of cover||This is the amount of cover you require (sum assured). A higher sum assured = higher premiums|
|Length of cover||The longer your policy term, the more expensive it will be|
|Occupational information||How it impacts premiums|
|Type of truck you drive||Premiums may be dependent on whether you drive a rigid or articulated truck|
|Your usual routes||Frequently driving dangerous routes may result in higher premiums|
|The amount of hours you drive a week||If you drive more than the maximum 9 - 10 hours a day, you could face additional loading|
|If you drive in other countries||Premiums can be higher if you drive in dangerous countries or ones with hazardous terrains|
|If you transport hazardous goods||If your cargo is hazardous or contains volatile substances, this can impact premiums|
|Health issues related to lorry driving||Lorry drivers can be at risk of deep-vein thrombosis, type 2 diabetes and other health related conditions due to frequent driving. These can impact premium costs|
It's essential to provide accurate information regarding your situation during the application process to ensure your cover is valid.
Failure to do so would result in non-disclosure. This is a type of insurance fraud, and can result in your policy being invalid and your loved ones not receiving a pay out.
Reassured can help you through every step of the application process to ensure all information is accurate. Simply contact us today.
Many companies insure the vehicles and goods of their HGV drivers. However, personal life insurance is not always provided.
Some companies may provide their drivers with death in service benefit. This is an employee benefit which can pay out a multiple of your salary if you pass away while you’re in employment.
While this is a generous benefit, the amount paid out is unlikely to cover all financial commitments for your loved ones, so it can be beneficial to secure your own personal policy.
In 2021, over 4,000 goods vehicle drivers or passengers were injured in a road accident, of which 54 were killed.
While licenses which must be resat every few years, and yearly classroom work help impose safety regulations on UK drivers, it’s important to have cover in place if the worst were to happen.
This is especially important, if death in service benefit isn’t offered by your employer.
A life insurance pay out could help to cover the following for your loved ones:
You may also consider life insurance if:
If you’re still unsure why cover is necessary, you can always contact Reassured.
Our friendly team can help provide you with all the information so you can make an informed decision.
Alternatively, if you’re unsure how much life insurance you require, check out our life insurance calculator below:
Yes, life insurance could cover you if you pass away as a result of truck driving, this includes accidental death within your occupation as well as other reasons which aren’t excluded from your policy.
While it’s rare, you may have an exclusion written into your policy which would mean if you passed away from a lorry or occupational related accident, it wouldn’t be covered.
This would be dependent on your insurer and additional occupational information, including where you drive and if you move hazardous goods.
The good news is Reassured can compare quotes to help you secure a deal that suits you.
We also have a specialist impaired team who can find some form of cover if you have been declined previously.
There are many life insurance options available to truck drivers. Reassured can help you secure one of four different life insurance policies.
These life insurance policies aren’t specifically designed for truck drivers, and there’s no specific truck driving life insurance that exists.
However, they can all be beneficial, depending on your personal circumstances and what you’d like to cover.
The tables below shows the 4 types of life insurance:
Terminal illness cover is an additional form of cover which allows an early claim on a life insurance policy if you’ve been diagnosed with a condition leaving you with less than 12 months to live.
Terminal illness cover comes as standard with all term life insurance policies secured with Reassured.
However, it’s not included with whole of life insurance and some over 50s life insurance. It can't be purchased separately, so it’s best to check your policy documents if you require this coverage.
The funds from this can help to cover end-of-life treatment, carer costs and getting your financial affairs in order.
Once a claim has been made, the policy (including life insurance) is terminated.
Critical illness cover is another additional form of cover. It allows an early claim on a policy if you’ve been diagnosed with a life-changing, but not terminal illness.
Critical illness cover can be added to all term-based life insurance policies for an additional cost.
Typically, around 30 specific illnesses/conditions, including heart attacks, strokes and permanent disability are covered.
Critical illness can’t be added to life assurance policies (whole of life insurance and over 50s life insurance), but a standalone critical illness policy can be purchased (through some providers) to run alongside these policy types. However, this would result in two premiums being paid.
Standalone critical illness policies can't be secured through Reassured.
Income protection is a type of insurance policy which pays a percentage of your income if you’re too ill or injured to work.
Typically, this can be between 50 - 70% of your usual income (depending on the provider).
Due to the health risks which can be associated with HGV driving, this could be a great policy for self-employed truck drivers, or drivers who would require more than statutory sick pay (if your employer doesn’t offer a generous sick pay scheme).
Income protection can be secured separately, or simultaneously with life insurance to maximise your cover.
Many of the questions you would be asked during the application are similar to the questions asked during a life insurance application.
If you’re unsure whether income protection would be beneficial to you, you can discuss your requirements with our dedicated income protection team or calculate how much income protection cover you might need below.
Reassured Advice offer a whole of market comparison service to ensure you secure the best deal.
It’s possible your application could be declined, but it’s unlikely. Each truck driving job can vary in nature, depending on the type of HGV driven and the cargo transported.
As no two driving occupations are the same, depending on your personal circumstances, you may find you can easily secure life insurance, face an increased loading (increased premium amount) or have your application rejected.
While it’s highly unlikely your life insurance application will be declined due to driving an HGV alone, if multiple high-risk factors were identified (such as a pre-existing medical condition, smoking and/or having a high BMI) this could result in an application being declined.
Reassured have a specialist impaired team who can help secure life insurance if you have been declined in the past.
Applicants who have been declined previously may be able to secure some form of cover through our specialist impaired life insurance team.
Contact us today for your personalised, fee-free quote.
Having adequate cover in place if the worst was to happen is important for securing your loved ones’ financial future.
That’s why it’s important to compare quotes to find the best possible deal for truck drivers.
That’s why it’s important to compare multiple quotes, as the price for truck drivers will vary between providers and due to your personal circumstances.
By comparing life insurance through Reassured we can present you with our best quotes, free of charge.
We even offer a free trust-writing service on many of our policies to help minimise/avoid inheritance tax, resulting in your loved ones potentially receiving more of the sum assured they’re entitled too.
Simply contact our award winning, UK based team, for your free quotes.
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