Your occupation can increase the likelihood of you experiencing any illness or accidents and your income protection insurance premiums will reflect this.
For example, someone who works at heights or with dangerous machinery should expect to pay more than someone who works in an office due to the increased risk associated with their job.
Some providers even class teachers as a higher risk due to the sometimes stressful nature of their job. Insurers will want to offset this increased level of risk by charging higher premiums for their income protection to those in a higher risk classification.
Not all providers will charge more for having higher risk occupations. There are specialist providers who may be more suitable for you if your occupation is deemed risky.
Endsleigh’s financial advisers are not tied down to any particular provider and are free to search the UK market on your behalf. Before doing so however, your dedicated IFA will fully assess your needs and will determine whether it is necessary to approach a specialist provider.
Endsleigh’s IFAs can offer much more detailed advice on occupations and how they might affect your premium for products such as income protection.
Click here to speak to an independent financial adviser about your income protection needs.
