Life Insurance for Ironworkers + Video

Life Insurance for Ironworkers: How to Secure the Best Rates in 2024 + YouTube Video

Applying for life insurance for ironworkers and steelworkers is a snap. If you are an ironworker looking for a simple way to apply and receive the best rates? Don’t look any further, our agency understands the unique needs of tradesmen like yourself.

We know that your job requires hard work, dedication, and often comes with risks.

That’s why we’ve partnered with over 40 competitive carriers to offer you the best life insurance options specifically tailored to your needs.

Steelworkers and structural ironworkers have been placed in a high-risk occupation category mainly due to their risk of falling from high buildings under construction.

However, with the new safety equipment, such as safety lines and harnesses, a lot has changed, and the risk factors have gone way down. This means lower rates and depending on your specific duties, you may also receive preferred rates.

Applying for life insurance should never be complicated. With our agency, the process is simple and streamlined. We will guide you through every step, ensuring you get approved for very affordable rates. 

Our friendly staff can answer all your questions and assist you in finding the right life insurance coverage to fit your budget with no cost or obligation. 

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Your rates will mainly be based on your health history. Your occupation as an ironworker will not inhibit you from getting life insurance with affordable premiums. 

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Can Ironworkers Purchase Life Insurance?

Iron and steelworkers can buy life insurance coverage just as quickly and easily as an office worker who sits behind a desk all day. All the best life insurance companies offer excellent life insurance products to people in your trade.

Just because your line of work has a reputation for additional risk factors, you will still have excellent life insurance options to choose from. 

When you hear the common phrase ironworker life insurance, most people will think of very high rates when that is certainly not the case especially when you apply with a carrier that is construction trade friendly. Regardless of what your job duties are, you can easily apply and get approved for life insurance from all the best rated carriers.

 

How to Apply for Life Insurance With a Hazardous Occupation: YouTube Video

 

Can Being an Ironworker Affect My Rates?

Being a steelworker can sometimes affect your life insurance rates. A lot depends on your exact work duties and their safety or danger. We always prefer to use life insurance companies with a favorable opinion of the construction trades.

With that being said, there is no additional cost involved with many of these job descriptions. If there is, it is limited to the job duties of an application exposed to very high-risk conditions on a job site.

 

What is Accidental Life Insurance?

If you have thoughts about purchasing an accidental life insurance policy, I would not recommend it because the cost would be about the same as a conventional life insurance policy that covers everything and is not limited just to accidents.

An accidental life insurance policy would be close to the same cost but without any coverage at all for death from natural causes. This makes accidental life insurance obsolete by today’s standards. Accident policies used to be popular years ago.

 

What Are Flat Extra Fees for Ironworkers?

Ironworker life insurance does not always require any extra fees to be added to your premium, so we try to use carriers that rarely use them at all.

The history of flat extra fees has been used for many years and is prevalent today for applicants with higher than normal occupations. They may add a flat dollar amount to (every one thousand dollars) of life insurance coverage.

This could pertain to hazardous occupations, sports, or hobbies that could result in someone’s death. Usually, this could pertain to:

Dangerous Occupations such as:

1. Commercial Fishermen
2. Professional Loggers 
3. Airline Pilots
4. Commercial Fishermen
5. Electrical Power-Line Repairman 

Risky Sports & Hobbies such as:

1. Skydivers
2. Drag Racers
3. Scuba Diving
4. Base Jumping
5. Bull Riding

These flat extra fees compensate life insurance companies for the additional risk they are taking for applicants associated with hazardous jobs and sports, which is very common today. If this looks confusing, no worries, call us and we will explain these fees in detail.

 

Questions that Carriers Commonly Ask

These are some of the most important questions you will find on an application for life insurance coverage for ironworkers & steelworkers.

1. Have you been diagnosed with any chronic medical conditions?
2. Are you active in any dangerous sports? 
3. Does your driving record have issues, such as a DUI/DWI?
4. What is your current height & weight?
5. Do you drink alcoholic beverages, and if so, how much?
6. Do you use any form of tobacco products?
7. Have you used any narcotics on the job (prescription or otherwise)?

 

Job-Related Questions

Life insurance carriers need a basic understanding of how safe your work environment is. These are some of the most common job-related questions.

1. What kind of specialty training do you have or are you planning to have?
2. Do you wear or use any safety equipment or clothing?
3. What is the exact name of your occupational job title?
4. Are there any activities that you perform that are considered more hazardous than others?
5. Does your employer offer any safety classes for you to attend?
6. Does your employer have any safety measures you must follow each day?

 

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Job-related fatalities are higher for aging (over 45) steelworkers. This is due to the conditions that aging brings. Such as slower reflexes to react to danger or a possible accident.

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Statistics Point to a Higher Accident Rate Among Steelworkers Aged 45 and Over

This is due to the standard conditions that aging brings to the table. Such as slower reflexes to react to danger or a possible accident. Other conditions include some loss of muscle strength and reduced vision and hearing.

This can alert an ironworker to danger and make a fast decision on what to do. All this is normal, and the aging process brings it on. Nevertheless, it increases the odds of having a fatal job-related accident. Also, consider that medical conditions are more prevalent in the above 45 age class.

 

Falls Are the Biggest Dangers to Steelworkers!

Falling out or off a building under construction is the carrier’s number one concern.

The statistics will usually reflect at the top of the list of the most dangerous jobs in the United States: the iron and steelworker industry. This is due to the high degree of slip and fall-related accidents high in the air. Structural and reinforced iron and metal workers are employed in all parts of the U.S.

But most work in the major cities where the most significant percentage of commercial and industrial construction occurs regularly. This is where safety first is the most important goal.

The statistics show that work-related deaths from falls among ironworkers are over ten times higher than the traditional construction worker. In addition, more ironworkers and steelworkers are killed from falls than in all other construction-type occupations.

 

What Are My Options When It Comes to Choosing a Life Insurance Policy?

Term Life Insurance:

As you probably know already, term life insurance rates are much lower than any other type of life insurance product. Term life insurance is the number one life insurance product sold in the U.S. It is the most cost-effective plan design, and you can buy it for as long as you need it in force. You can choose affordable term life insurance products with a term period of 10 years up to 40 years.

Term policies can also be converted to permanent life insurance during your term policy period. Companies like Banner Life have some of the lowest life insurance rates for ironworkers.

Universal Life:

Universal life insurance is a permanent life insurance product that will last for the rest of your life as long as you keep paying your premiums. Years ago, Whole Life was the go-to form of life insurance, but it was found to be far too expensive as time passed. Universal Life is much more affordable and gives you the same lifetime protection.

Even though universal life is an excellent option for you, most people go the term route because of the lower cost. Universal Life can cost over double the price of term coverage, but Universal Life will last the rest of your life with no possible gaps in coverage like term products can.

No-Medical-Exam Life Insurance:

No medical exam life insurance is also known as Non-Med life insurance. The application is much shorter than a fully underwritten conventional plan design and can eliminate the physical exam.

The only issue is that these plans cost little more than traditional life insurance for steel and structural ironworkers.

These plan designs can work if you want to skip the exam and quickly get approved. However, more and more consumers are deciding to go the no-medical exam life insurance route.

Ironworker life insurance quotes for non-medical exam policies will cost a few percent more than fully underwritten term policies. We always recommend conventional applications due to the slightly lower cost.

 

There are Two Kinds of Agents to Help You

Independent Agents:

Your agent will be your key to success in helping you get approved with the best rates. Anytime you’re shopping for virtually any type of insurance product. Connecting with an independent agent like ourselves will save you time and money.

Independent agents represent the entire insurance market. They can place you with the best company to provide you with the lowest rates. This especially holds true for life insurance for ironworkers.

Captive Agents:

On the other hand, captive agents such as State Farm or Country Financial can only show you one company’s rates. The captive agent works for their company directly and has their employer’s best interest in mind.

Independent agents do not work for insurance companies. That is what gives them the name “independent agents.” They work for their clients and have their clients’ best interests in mind.

Just remember that all the help you receive from independent insurance agents comes at absolutely no cost or obligation.

 

Can a Risk Assessment Help Get Better Rates?

Pre-screening your application is the best way to pinpoint what company to use and what to expect if you apply for life insurance. The more your agent knows before you sit down to apply, the better.

In addition, this will eliminate any surprises when you are moving along in the underwriting process.

The good part is a risk assessment will only take about 5-10 to complete, but it can mean the difference between a smooth application or a headache for you and your agent later.

 

How Can I Compare Life Insurance Quotes for Ironworkers?

With our website quoting system, you can compare the best life insurance rates for steelworkers from over 4o top-rated companies. You can use the quoting form on the right or our instant quote form. Either way, you will see the most competitive company rates displayed side-by-side in less than a minute.

I recommend setting the health classification “drop-down menu” on the quoting form to “Standard Plus” just to play it safe. You can also call us and we can verbally pre-screen you and give you an accurate quote over the phone. 

Can I Apply Over the Phone to Save Time?

Applying over the phone is the best method possible!

You will usually have three ways to apply for life insurance for ironworkers. The first is a conventional paper application with over 25 pages which we don’t recommend due to time consumption and writers cramp.

Paper applications are obsolete, but it was the only way to apply in the past. The second is the online application, but many people can run into software glitches or slow internet issues. 

A quick and straightforward telephone application is the best way to apply.

Modern telephone applications take about 15 minutes to complete. All you have to do is sit back and answer the questions and let a representative from the telephone application department do all the work for you.

We use a simple SnapApp system for all our applicants and they always appreciate the streamlined process.

 

Our Final Thoughts

If you’re an ironworker or in another class of the construction trades, feel free to contact us seven days a week for help and we will provide answers to all your questions with no obligation.

Purchasing life insurance is now a quick and straightforward process. We can help you find a policy that fits your needs and budget. 

If you need life insurance fast or do not want to take a physical, remember that no-medical-exam life insurance may be an excellent choice. Thanks for reading our blog post and stay safe out there!

All the best,
Jack Venturi

Should you have any questions or need further assistance, please don’t hesitate to call us at 815-390-7545 for an immediate response. We’re here to help!