Truck driving is considered as a risky profession by most of the insurance companies. However, it’s good news for you that some companies offer better life insurance for truck drivers at a very reasonable price.
Though this profession is full of risks as you travel every day on different road conditions, you can still get an affordable plan.
Things You Must Know First
- It is possible to get an affordable plan for truck drivers
- You can get no medical life insurance as well
- Both term & whole life insurance are available
- Your health and driving history is important
Importance of Life Insurance as a Trucker
Truck or long vehicle driving is not a typical profession. Even auto insurance premiums for truck drivers is sky-high. It is a profession with lots of risks and dangers.
No one can guarantee the road conditions and you may face lots of risks in your everyday work. Moreover, most of the truckers don’t have any specific schedule of work which makes this profession riskier.
Why are you working hard? To support your family, right?
Your loved ones depend on you financially. What will happen if an accident occurred? Here comes the importance of life insurance and it can provide you the full financial protection that you can’t imagine unless you buy.
If you have any debts, you can cover that with the plan. Moreover, your children’s education and daily expenses can be covered. As you are still working, you can get a larger coverage.
Options Available for Truck Drivers
Term and Whole Life Policy
Term life insurance policies are available in the time frames of 5 to 30 years. You can choose any period you would like. For smaller coverage and a cheaper premium, you can buy this one.
It depends on your coverage amount and financial capability. This is a great choice if you want to pay a smaller premium every month.
On the other hand, whole life insurance is the one that covers the rest of your life. It also generates cash value and you can take loans from your policy in the future.
Both term and whole life policies are available with a medical exam and without a medical exam. It depends on you, what you would like to get.
No Medical Exam Life Insurance for Truck Drivers
This is one of the most popular policies among truckers. This policy helps you to buy a policy when while on work. You don’t need to go for any medical test so no waiting is required.
The purchasing process is very fast and your health condition doesn’t matter here.
Hence, Benefits are
- No medical exam required
- No underwriting
- Fast and Easy to Purchase
So, what is the Opposite Side?
No exam policy is expensive and has a limited coverage amount. Most of the insurers, don’t allow coverage amount more than $400,000. You may look for details here.
What an Insurer May Ask for Issuing a Policy?
For truck drivers, there is not much hassle when shopping for a plan.
The insurer may only ask you about
- Your health(not required for no exam plans)
- Family history (members, financial status)
- Driving record & license (the cleaner history, the better)
- Habits (including alcohol, driving, smoking, etc.)
Generally, your profession is not much important here unless you have any serious accident records. As you drive regularly, you may have to answer some basic questions about your profession.
The insurer may also ask for the documents of your vehicle but it’s a rare scenario. If you are working for any company, you may have to provide some ID proofs. That’s all.
Insurers don’t want to create any difficult situation for their clients, so, no worries!
Life Insurance, Health & Truck Driving
If we think about these three factors, we can easily relate to each other. Truck drivers pass a very busy schedule and hardly get any time for physical exercise.
Moreover, their eating habit is not as normal as others. For most of the truckers, there is no alternative way than eating restaurant foods.
Staying healthy with extremely tight schedules and deadlines is really difficult. Truckers also suffer from a sleeping disorder which causes many health problems.
When you will shop for life insurance, the insurer will examine your health to understand to risk factors for the policy. So, staying healthy is important to get a cheaper premium.
However, if you buy a no exam policy, you are completely free from these obstacles.
The Bottom Line
Getting affordable life insurance for truck or long vehicle drivers is not a difficult task. There are plenty of options available and you can choose any of them according to your requirements.
Each of the insurers will offer different rates for you. So, it’s always wise to compare the rates as many as possible before taking the final decision.
We are offering FREE QUOTES from the top-rated insurers for you. So, compare, buy, and SAVE.