Police life insurance

Officially, there's no such product as police life insurance.

This is merely a phrase used to describe a standard life insurance policy that covers a police officer.

However, police life insurance could also describe the life cover benefit police officers receive with their pension or through the Police Federation Group Insurance Scheme.

Though the potential pay out from these may be insufficient for your individual needs.

If you feel that you require additional cover, more that is paid through your employment, then a personal life insurance policy may be the solution.

With a separate policy you’ll have peace of mind that, if you were to leave the force, your family are still protected.

At Reassured, we’ve many years of experience helping customers from all walks of life, secure affordable life cover.

Compare multiple quotes today using our fee-free, award-winning broker service.

Keep reading to find out more about life insurance for police officers…

Life insurance for police officers could be arranged through Reassured from just a few pounds each month.

The cost of your premiums will be calculated based on a number of personal factors, as standard with any life insurance application.

The insurer will take these into account to assess the level of risk you pose (and the likelihood of a claim being made).

Your specific role within the police force may also impact the cost of your life insurance.

For example, a firearms specialist is likely to pay higher premiums than a police officer who works mostly in an office.

Specifics of your application will be assessed differently with every insurer, which means quotes will vary.

That’s why it’s important to compare multiple quotes from a variety of insurers.

Save time and money by using our broker service.

Every policy type is different to suit different requirements.

Your personal circumstances will help determine the policy that’s most suitable.

But what’s helpful, is to know the options available.

If your role within the police force is particularly risky, you may consider term based cover that provides protection during your working life.

These include:

• Level term life insurance
• Decreasing term life insurance
• Family income benefit

These types of cover are ideal to have in place during a time when your loved ones will most rely on your income - particularly if you have a mortgage.

So that at any point in your career, if the worst were to happen to you, they’ll receive the financial security they need.

Even when you retire from the police force, you may still have some form of life cover in place as part of your benefits package.

This is usually a much smaller amount than if you were a serving member of the force, and usually expires after a certain age.

Retired members of the police force have whole of life cover options available that could provide a much larger pay out and premiums start from just 27p-a-day ^± .

Proceeds can be used to help cover your funeral, clear any debts in your name and/or by loved ones to enjoy as an inheritance.

An over 50s plan is ideal for those who require life insurance but have a poor medical history.

This is because no medical questions are asked on the application.

Factors taken into account to calculate your premiums include your age, whether you smoke and the level of cover you require.

An over 50s plan provides a much lower sum assured than a whole of life policy, up to £20,000 (depending on your age and budget).

However, a pay-out is guaranteed as the cover will remain in place until you pass away.

As with whole of life cover, you’ll need to pay premiums for the rest of your life, or until your 90th birthday.

Contact Reassured today for your free, no-obligation quotes.

Joint life insurance protects two lives simultaneously (such as you and your spouse).

You’ll pay one premium, and the policy pays out only once upon the first or second death.

Generally, a joint policy can save you approximately 25%, compared to two single policies.

Although, a joint policy may not be suitable if you’re a police officer with high-risk responsibilities.

This is because the circumstances of your job may bump up the premium, impacting both parties.

Therefore, this type of cover may be more suited to police officers with low-risk responsibilities who can take full advantage of joint policy savings.

Term life insurance policies purchased through Reassured come with terminal illness cover as standard.

This means that if you’re diagnosed with a terminal illness and given less than 12 months to live, you can make an early claim on your policy.

The proceeds can be used to help settle your financial affairs, pay for private healthcare or to simply enjoy with loved ones for your remaining time.

The alternative solution to a traditional life insurance policy could be a funeral plan. Please note, Reassured are unable to sell funeral plans. If you are looking for a funeral plan we suggest you check the FCA register to find a regulated provider.

As a police officer, you may struggle to secure affordable life insurance if:

• Your role within the police is particularly dangerous
• You suffer with a serious or long term medical condition
• You’re in the later stages of life
• You smoke, are overweight or drink excessively

A combination of these factors could result in expensive premiums or declination of your application.

However, there is still the matter of protecting your loved ones if anything were to happen to you whilst at work.

You could consider a funeral plan to protect your loved ones from the extortionate cost of a funeral.

A funeral plan allows you to plan and pay for your own funeral in advance - so your loved ones don’t have to.

[1] https://www.sunlife.co.uk/funeral-costs/

[2] https://inews.co.uk/news/uk/more-than-three-quarters-police-officers-struggled-with-mental-health-last-year-report-finds-1119989