Life Insurance for Construction Workers
Life cover provides a usually tax-free lump sum benefit to your beneficiaries in the event of death apply now online or get free advice from one of our expert advisers.
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Life Insurance & Income Protection for Construction Workers
As a construction worker, you know the health and safety measures you take every day to protect yourself and your co-workers. Working in a dangerous environment, the risks go with the territory.
You may have already experienced what can go wrong on a busy construction site. So, as well as working safely, you have an obligation to protect your family if you had an accident.
How would your family cope financially if they lost you and your income – especially if you have young dependents. Who will pay the bills if you’re the only earner?
Having the right life insurance policy in place for the type of work you do is vital. The good thing about Construction Worker Life Insurance cover is that it’s there to protect your loved ones if something happens to you.
Peace of mind like this is invaluable, especially when the insurance premiums are affordable for most people.
How does Life Insurance protect my family?
Depending on the type of policy you choose, life insurance pays out a tax free lump sum to your family if you die unexpectedly. Some policies will pay regular, ongoing payments as well if your dependents need financial support until they reach adulthood.
What Is Life Insurance For Construction Workers
Life Insurance for Construction Workers is different to life insurance for someone who works at a desk for a living. This is because there is a higher risk of death if you work in the Construction Industry.
There will be specific criteria included in your policy because of the work you do.
When applying for life insurance, your job and the activities you do will be assessed by an underwriter. They will assess the level of risk you’re exposed to by asking specific questions about your daily work activities.
You’ll also be asked questions about your health, medical conditions and lifestyle habits, such as drinking alcohol, smoking and taking part in extreme sports.
What construction jobs do life insurance policies cover?
The types of construction jobs covered by life insurance include:
These are just some of the occupations you might encounter as a construction worker. However, you may work in a specific industry and do a particular type of job.
A financial services specialist adviser will help you find a life insurance provider that covers the type of job you do.
If your job means you visit construction sites regularly, your policy will need to include this, even though your risk will be lower. For example, you may be an architect, surveyor or health & safety inspector.
Why is it important I have the right cover?
Like wearing the right personal protective equipment (PPE), getting the right insurance protection for the job you do is imperative. Being properly covered means if you die as a result of an accident at work, your policy will payout.
If your work activities are not covered by your life insurance policy, it may not payout. That means your family won’t benefit from your life insurance.
What level of cover do I need?
This depends on your individual circumstances and how much it costs to run your family home. Add up your family monthly expenses, including mortgage, utility bills, credit card bills, car loan, food, clothing, nursery fees, etc.
Multiply the total by 12 to calculate your annual expenses, then multiply that figure by 10 years. That’s the minimum amount your partner and children would need to live on over a 10 year period, without taking inflation into consideration.
How long will the policy last?
The term of the policy you take out should be based on your age, your children’s ages and the time left on your mortgage, if you have one.
For example, if you’re 30 years old, with a 25-year mortgage and your children are preschool age, you should aim for a policy term of at least 25 years.
The younger you are when you take out a life insurance policy, the cheaper the premium. A qualified financial services adviser will be able to guide you on the level of cover and term you need.
How can Life Insurance Quote help me?
This will save you time and money and make sure your policy is tailored to suit you.
Life Insurance Quote is authorised and regulated by the Financial Conduct Authority. That means we’re qualified to discuss life insurance, critical illness cover and any other type of insurance plans you need to discuss.
It’s easy to arrange an initial conversation with one of our insurance experts.