Having life insurance is essential no matter what your career may be. Life insurance provides your family with everything they need in case you pass away unexpectedly. It helps everyone to be prepared for the worst. If you work in law enforcement, you have additional risks to consider.

Your job can be dangerous at times, which is why you need to make sure you have life insurance and that you’re prepared. Many other jobs don’t share the same risks that law enforcement jobs do. You never know what will happen in those high-risk situations, which is why it’s essential to get life insurance.

There are many different risks that you face every day as you are working. You might be involved in traffic accidents. You might also be involved in careless shootings. You are also a first responder, so you spend time on crime scenes. Depending on where you live and work, you might be in riskier situations. These risks make it even more critical for you to get life insurance.

Fortunately, some companies will insure law enforcement officers. Because you are working a high-risk job, you are riskier to insure. This might make you think you will end up paying more for insurance.

As long as you are in good health, you shouldn’t have to pay more for a good life insurance policy. This is a common concern that law enforcement officers have due to their occupation. The risk is higher for law enforcement officers compared to people with other professions. Still, there are options. It’s also worth noting that you will always have the same opportunities as anyone else.

Though it is not a comfortable topic, it is something that needs to be discussed to give your family some peace of mind. Here’s everything you need to know about life insurance for police officers and law enforcement, plus how to get your own coverage.

Summary of What You’ll Learn

Life Insurance for police officers is no different than any other profession. Most police officers can get the best rating available as long as they are not part of the SWAT or bomb defusing team. If you are part of SWAT or other high-risk divisions, then contact us for a custom quote. We work with over 60 companies and work on getting you the best rate, at no extra cost to you.

Coverage You Get Through Work

The coverage your employer gives you can vary. This varies by occupation and several other factors. If you don’t know what type of coverage your employer has given you, be sure to find out.

You should know the type of coverage your employer provides. This will help you to get the right amount of additional coverage if needed. It’s essential to be aware of how much coverage you have currently and how much more you need.  

In general, law enforcement officers are given great benefits as far as health insurance, and a pension go. While this is helpful, you aren’t given everything you need. Life insurance is often included in this, but it isn’t sufficient. Don’t overlook life insurance simply because you have excellent benefits in other areas.

Most of the time, you will not receive enough coverage from your employer. You will have some coverage, which is a nice benefit, but it isn’t enough. Life insurance is something you want to make sure you have enough of. If not, your family is not given the protection they need when you pass away.

In almost every case, you will need to get additional coverage. You can add an extra death benefit through your employer’s life insurance, but you will likely need more than that.

It’s worth noting that the benefit your family receives through your employer can vary. Your family might receive different benefits if you died on the job. This is something that you can’t be sure about, so you can’t count on the more significant benefits for your family.

Unfortunately, some law enforcement officers assume that they have enough life insurance through their employers. After all, some coverage is better than having none at all. Realistically, what your employer gives you isn’t enough. Don’t think that because you have life insurance through your employer that it’s going to be enough.

Why You Need Personal Coverage

Many employers offer life insurance through your job. In almost every case, this is not enough to provide for your family in case you would pass away. If you are single, you may be fine using life insurance from your employer alone. Otherwise, you should look into an additional life insurance policy.

No matter what, you should get familiar with the policy provided by your employer. Sit down and look at the numbers. What does your family need if you pass away? Is what your employer provides enough? It’s useful to take some time to make sure you’re in the right place rather than assuming you are.

The problem is that your employer may only offer a small amount of life insurance. It might be one to two years of your salary. Some employers will provide life insurance that covers up to four years of your salary. For most people, that isn’t enough, so your family will be left in a tough place.

To figure out if you need an additional life insurance policy, you should consider whether your family would be able to survive on one year of your salary. If not, then you will need to get more life insurance. This is often the case when you are the sole provider. If someone else in the household can provide for the family, less life insurance may be needed. It never hurts to have extra coverage, though.

You also need to make sure you have a life insurance policy in place for when you retire. The same is true if you quit your job. You may still need life insurance at that point, depending on your needs and where your family is. Some people don’t need life insurance past the time they are working due to their retirement and pension. As mentioned, law enforcement officers usually have a good pension. In that case, life insurance wouldn’t be necessary.

It’s essential to take a look at the life insurance you have and decide if it’s enough. In most cases, you will need to get your life insurance to make sure your family has everything they need. Life insurance is something you don’t want to skip over. You want to give it some thought and look at the numbers. If not, your family may not have what they need if you do pass away.

How Life Insurance Companies View That Risk

Life insurance companies do recognize the risk that law enforcement officers have as a part of their career. This will not prevent you from being insured, though. You will still be able to get a good life insurance policy as a law enforcement officer. Life insurance companies work to keep their rates low for law enforcement officers.

The whole process of applying for life insurance is the same as it would be for anyone else. From the application process to officially getting insured, you will have the same experience as anybody else getting life insurance. Police officers and law enforcement officers aren’t treated any differently due to the riskiness of their occupation. You won’t be discriminated against.

The cost of life insurance for law enforcement officers may be going down too. This is because life insurance companies are aware of the risk present. They also realize that law enforcement officers are protecting their communities, so it wouldn’t be fair to charge them more for life insurance. Over the past ten years, these rates have been going down, which makes it easier for you to be insured as a law enforcement officer.

The same life insurance policies are an option for law enforcement officers as they are available for anyone else. Just because you are a police officer doesn’t mean that you can’t get proper life insurance. You should be able to get any policy that a regular citizen would have access to. This is excellent news for you because you can choose any plan you want. You have a lot of different options and can choose what works best for you and your family.

Product Options

When you get life insurance, you will have several different options to choose from. In most cases, term life insurance is the best choice. This option works for nearly anyone. It’s still worth it to look into your other options, though. You might find a type of life insurance that better fits your needs.  

Overall, term life is sufficient and the most affordable option. It provides everything you and your family will need in case the worst happens.

You can explore the other types of life insurance to decide what will work best for you. These are the most popular types of life insurance that you might choose from.

Term Life Insurance for Law Enforcement 

Term life insurance is a type of life insurance that lasts for a set term. When you are getting life insurance, you can choose a specific term. This might be 10 or 20 years. Some people decide to get a term for the time that they have kids at home. They might also choose a term for the duration of their mortgage or for the time left until retirement.

Term life insurance is the most affordable option. You can get good, quality coverage for a low price. Once the term is up, you might have the option to convert the policy to a whole life policy. If you don’t convert the policy, your term life policy will end at the end of the set term. This means you will be without life insurance. For most people, this isn’t a problem. This is because you had the term for as long as you needed it. Once those major expenses, such as the mortgage or kids living at home, are paid for, life insurance is less needed.

Premiums are set by the company based on your age, health status, gender, and more. They are significantly less expensive than whole life insurance premiums.

There is no cash value associated with term life insurance. It’s a very basic type of life insurance, which is why it’s so affordable and such a great choice for most people. All you are guaranteed is the death benefit if you pass away while the term is still active.

The death benefit is usually used for expenses life funeral and burial. It might also be put toward the mortgage. Keep in mind that term life insurance isn’t typically used for estate planning. It also isn’t used for charitable giving. It simply covers the basics, which is what most people need.

Term life insurance is recommended to law enforcement officers because it gives you the protection you need for a reasonable price.

Guaranteed Universal Life Insurance (Permanent Term)

Guaranteed universal life insurance is a type of permanent life insurance. Guaranteed universal life insurance is different from whole life insurance, even though both are types of permanent life insurance. You might have heard that whole life insurance is costly, which means that it’s not a great choice for most people.

If you want the permanent protection that whole life insurance offers, but you don’t want to pay high premiums, guaranteed universal life is a great option. Guaranteed universal life insurance policies have guaranteed death benefit amounts. As long as you pay your monthly premiums, that benefit will be guaranteed to your family when you pass away.

With guaranteed universal life insurance, you also have the option to decrease your death benefit. Over time, your needs might change, so your death benefit might too. You might need to lower your premiums if your financial situation changes. This gives you some additional flexibility so you aren’t stuck with the same exact policy for the duration of your life. You don’t need to buy another policy just to make these changes. You can do it with your existing policy. Not all types of life insurance offer these options.

You will also find that some guaranteed universal life insurance policies offer a return of premium. This means that you can cancel the policy and get your money back. Not all policies offer this, so it’s important to read up on it and ask as many questions as possible before getting the policy. It’s a good option to have if your financial needs change. Also, the percentage of your premiums that you get back can vary. It all depends on the company and the policy.

While some life insurance policies have a cash value component, guaranteed universal life does not. If you want to build cash value in your life insurance policy, you need to look for a different type of policy. Guaranteed universal life insurance offers a small amount of growth, but it isn’t significant enough to be considered a type of insurance with a cash value component. The main focus of a guaranteed universal life insurance policy is the death benefit.

No Exam Life Insurance 

Another type of life insurance to look into is no exam simplified issue life insurance. There are two types of no exam life insurance. A simplified issue is a better choice than guaranteed issue. Simplified issue speeds up the process so you get insured more quickly. With the guaranteed issue, you are guaranteed to get a life insurance policy, but it is more expensive.

The main draw for people to get simplified issue life insurance is how fast they can be approved. It usually take days. Other policies can take as long as eight weeks. It’s also convenient for people wanting to be insured because they don’t need to take the time out of their busy schedule for a full medical exam. You will still have to answer some questions about your health, but it’s much less involved than a full exam.

This is a good choice if you know you don’t want to take the medical exam. If you’re not in great health or if you have any health issues that might disqualify you from getting life insurance, you should look into no exam life insurance. The cost is high, but it’s the best option for people who might have trouble getting insured anyway.

The drawback of no exam simplified issue life insurance is that you will have to pay more money compared to the other options mentioned. This is because, without a full medical exam, the life insurance company knows little about your health. Typically, the purpose of the medical exam is to learn about your health status so the company knows how much of a risk it is to insure you. If you’re healthy, you will pay less. If you have any serious health conditions, you will pay more. Because your complete health status is unknown, companies play it safe and you will have to pay more for your premiums.

If you cannot get insured otherwise, no exam life insurance is a good type of insurance to get. Just be prepared for the higher premiums due to your unknown health status. You should also avoid guaranteed issue life insurance because those premiums will be even higher. If you can undergo a medical exam, you should do that to avoid the high premiums.

Wrapping Up 

When you’re looking at these life insurance options, you should consider how long you want to have coverage for. Some people get a policy that lasts until they retire. Then, their family will have protection for as long as they will be contributing to the family’s income. Another option is to get coverage for the length of time you have kids at home. Then, you can continue to support your kids until they are 18. This is a good option if your spouse can support themselves financially.

Any time you are looking into life insurance, you should work with an independent life insurance agent. This is someone who works independently from any company. They won’t have a bias toward a certain company and won’t get a commission from you getting life insurance through a specific company. You can trust that the guidance they’re giving you is genuine and that they want to help you find a great policy at a reasonable price.  

It’s important to get life insurance early. As you age, the cost increases. Your health also plays a role in the rate you get. Don’t rush into getting a life insurance policy, but consider getting one sooner rather than later. It definitely requires some thought. You simply don’t want to wait too long. It’s easy to get insured when you’re young and healthy.

Getting life insurance as a law enforcement officer is an option. There are plenty of life insurance companies that will still insure you despite this risk. You should still have the same options as anyone else too. It’s important to get life insurance as soon as possible to make sure your family is covered in case the unthinkable happens. You don’t want to leave them without that protection.

Three popular options include term life, guaranteed universal life, and no exam. Often, law enforcement officers choose term life insurance. This is a great option and can give you coverage for as long as you need it. It’s the most affordable option, which is what most people are looking for. The other options may be the right fit for you depending on your personal needs and preferences. Life insurance is very personal, so there’s no one size fits all policy.

It may be uncomfortable to think about or talk about life insurance, but it’s necessary. It’s in the best interest of your family that you get life insurance. As a law enforcement officer, you do have some additional risks. Even with these risks, you can be insured. It’s easier to be insured if you are in good health, so be sure to get life insurance as soon as possible while you’re still healthy. As you age or your health decreases, it can be more difficult and more expensive to get life insurance.

Figure out what kind of coverage you have from your employer. Then, look into the life insurance options you have as a law enforcement officer. This is the best way to protect your family in case the unthinkable happens.

Start Here 

If you need coverage and you’re a police officer then you’re at the right place. We’ve worked with many police officers over the years and can help you get the coverage that you need to keep your loved ones protected.