Life insurance for high risk jobs
Life insurance for high risk jobs can be hard to find in the UK. Read below about how astronauts have previously managed.
About a month before Apollo 11 was due to launch, Neil Armstrong and his colleagues found themselves in a dilemma.
Due to the high-risk nature of their jobs, and the real possibility that their trip to the moon could turn out to be one-way, they were unable to obtain life insurance.
So, how could they provide financial security for their families?
They had an idea and autographed hundreds of covers – they’re envelopes signed and postmarked on important dates, knowing that these would be worth a lot of money should they fail to get back to terra firma.
Which, strangely, led me to muse as follows.
I am an Independent Financial Adviser, which is why when at a social gathering or wherever people ask me what I do, I find myself hopping nervously from foot to foot and perspiring ever so slightly.
Let’s face it – I have to – the financial services industry has suffered a pretty poor press over recent years.
A bolder spirit might look them in the eyes and say, “I’m an IFA”, but not before having identified the nearest exit.
My own experience is that such heart-warming frankness invariably causes the enquirer’s eyes to glaze over in fear of a boring diatribe about pensions and investments.
What do I tell them I do?
I tell them that I help business owners and individuals provide financial security through the arrangement of appropriate insurance policies that pay out should something horrible happen.
If this produces a glimmer of interest, then I explain further: I set up Assured Life Advisers to promote life insurance as a fundamental part of financial planning. Life insurance underpins most of our plans in life and provides financial security – peace of mind if you like – should the worst happen.
That is why it has a fundamental role in most financial plans.
Most of us work hard and plan for a financially secure future, including a comfortable retirement surrounded by friends and family.
But what if something should get in the way of that?
Something horrible and perhaps indiscriminate such as a critical illness – or death?
What then…?
Life insurance provides a safety net which, although it cannot ease the pain or suffering caused directly by life-changing events, can assure that the effect of those life-changing events need not be catastrophic.
I often say to my clients “I hope your life insurance is the biggest waste of money you’ve ever spent”. I hope that – like the life vest under your airplane seat – it is never needed!
But, should the worst ever happen, that life insurance policy could be the wisest investment ever made.
Happily, Neil Armstrong and Buzz Aldrin walked on the Moon before returning home safely. The covers remain highly sought after today and can exchange hands for as much as $30,000.
But, most of us aren’t going to the moon.
There are far more prosaic and accessible solutions nowadays for providing financial security.
Whilst we can’t send you to the Moon and back, at Assured Life Advisers we can guide you through the process. From assessing your risks to implementing appropriate and affordable solutions, we can help with the financial security you need to remain on track.
Unless you’re an astronaut, in which case: keep signing the covers.
If you work in a high risk job in the UK, then speak with one of our advisers today. Assured Life Advisers help company owners, families and individuals find the best life insurance in the UK.