Is your job in a high risk industry? Do you take risks each and every day that you go to work? Maybe you are a race car driver, a professional (or a semi professional) athlete or maybe you are a fire fighter. These are all high risk jobs that could potentially end up in a fatality every single day that you go to work. There is a football movie called “Any Given Sunday” and it is based on the principal that any given Sunday an NFL player could end up injured or hospitalized during a football game. This is definitely a high risk job.
If you are like me then you work in an office and therefore you have a very low risk job. There is a very low risk that I will hurt myself in my office as I type on my computer and file my paperwork. I also have the luxury of being covered for personal life insurance and travel medical insurance through my employer benefits. However I am sure that not all employees in all fields of work have this same luxury.
Are you a thrill seeker?
There are definitely occupations that have a higher risk of death or injury while employees are on the job. Life insurance premiums are based on the probability of having an accident or injury; the lower risk you have of being injured the lower the cost of your travel and medical insurance premiums will be. Therefore race car drivers, NFL players and extreme sport athletes may be covered for life insurance or medical insurance however the insurance policy premiums will be very costly.
If you like to take adventurous excursions while you are on vacation I am not sure that your employer’s travel medical insurance will cover the medical, doctor or hospitalization costs if you ever have an accident while on vacation.
I have a friend who is a major thrill seeker; she loves extreme sports such as skydiving and bungee jumping. Last month she repelled down a twenty-five-storey building in order to raise money for charity. Thank goodness that she made it down to the bottom safely, but I honestly don’t know if her love for extreme thrills would be considered as an accident by her life insurance company.
Talk to Your Insurance Company
There are life insurance policies that may cover extreme adventures for thrill seekers but you should definitely contact your insurance company to get the details before you think about jumping off a cliff or repelling down a mountain.
Some insurance companies may offer extreme adventure life or medical insurance at an additional cost. This type of life insurance may not be covered in a basic insurance policy but it may be possible to add it onto your insurance policy at an additional cost similar to critical illness insurance coverage or accidental death and dismemberment insurance.
Keep in mind that life and travel insurance coverage is a great asset to have in case of an emergency, however it is always important to read the fine print to make sure that your insurance policy is covering your individual needs.
Photo by jvansweeden