Some jobs lead to higher costs for life insurance

Life insurance is something that a lot of Americans say they value when polled, but there seems to be a major disconnect between what they value and what they actually buy. Millions of people have little, to no life insurance coverage which often stems from misunderstandings related to the cost of coverage. However, people do seem to have a good idea of conditions that will actually make their premiums more expensive.

For example, it's likely that people who have relatively dangerous jobs understand that finding more affordable life insurance can be difficult due to their profession, according to a report from Insure.com. Mike Kilbourn, president of a small insurer in Naples, Fla., told the site that while many may not initially know that their professions may contribute to higher life insurance costs, it's something that they'll likely learn quickly if or when they apply for life coverage.

Which professions are most worrisome?
It should come as little surprise that some dangerous jobs are going to be deadlier than others, the report said. While jobs like commercial fishing and logging have dangers so inherent that they inspire TV shows depicting their risk (in fact, they're the two jobs with the most worker deaths per capita in the country, with rates dozens of times above the national average), others might not be as obvious. For instance, roofers die at a rather high rate, as do farmers, trash and recycling collectors, and people who drive as part of their job.

Miners and pilots are also in high-risk positions, but these are more obvious hazards. When you're that far above or below the planet's surface, anything that goes wrong could quickly become hazardous, the report said. But even other jobs, such as power line workers or construction workers, are still at significant risk of dying as a result of an accident on the job. All of that can end up having a major impact on the amount they're going to pay for coverage when compared to those who work in safer fields.

Loggers have the most dangerous job in the U.S.

What else to keep in mind
However, it should be pointed out that just because one life insurer provides a high quote for a person with a job in a notably dangerous field, that doesn't mean all of them will, the report said. This highlights the reason why so many experts stress the importance of shopping around for coverage. It is beneficial to compare and contrast the various policy features in addition to analyzing the monthly or annual price to the consumer.

The more that life insurers can do to work with those in riskier industries, the better off both the insurer and prospective clients are likely to be. The development of a better understanding for both parties could potentially lead to an increase in the number of policies obtained by those in more dangerous fields.