Oil rig Worker-High risk life insurance

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surfhut
surfhut Posts: 1 Newbie
in Insurance & life assurance
Hi
Can anyone advise me on a reasonable life insurance company...Im being quoted silly money since i've changed careers...Im now classified as high risk but the cost of cover is near enough my take home wage!!!

Any advise??

thanks

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  • hels123_2
    hels123_2 Posts: 440 Forumite
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    Ill watch eagerly, my hubby is in a 'high risk' job and we need some insurance/assurance (whch ever its called!!)

    Sorry I havent helped, hope you find something suitable.
  • dunstonh
    dunstonh Posts: 116,385 Forumite
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    insurance/assurance (whch ever its called!!)

    insurance if you are American. Assurance if you are British.

    Its really simply a case of finding out which insurance companies penalise you the least. Unfortunately, if you intend to DIY then you wont be able to find that out. You will need an IFA or mortgage adviser to do the phoning round with the providers.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Doesn't your employer have a subsidised scheme that you can enter?
  • Kimitatsu
    Kimitatsu Posts: 3,894 Forumite
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    Are you a contractor or an employee?

    The majority of riggers have a scheme automatically given to them by the company because premiums are so high (despite it being one of the most highly regulated industries in the world), usually the life insurance is 2x your pensionable salary with the opportunity to increase it to 4x.

    If they dont automatically offer it then given the huge skills shortage in the industry at the moment perhaps you could negotiate it or the monetary equivelant as a term of contract?
    Free/impartial debt advice: Consumer Credit Counselling Service (CCCS) | National Debtline | Find your local CAB
  • CaptWeird
    CaptWeird Posts: 2 Newbie
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    surfhut wrote: »
    Hi
    Can anyone advise me on a reasonable life insurance company...Im being quoted silly money since i've changed careers...Im now classified as high risk but the cost of cover is near enough my take home wage!!!

    Any advise??

    thanks

    Hi - yes, we've had some success with QuoteRack.co.uk, not sure if they can help you?

    I hope this helps.
  • ghn01
    ghn01 Posts: 5 Forumite
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    dunstonh wrote: »
    insurance if you are American. Assurance if you are British.

    Insurance: The insurance of something that might happen eg theft

    Assurance: The insurance of something which will happen eg death
  • Sublime_2
    Sublime_2 Posts: 15,741 Forumite
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    Who on earth are you with. Its dearer than the norm, but not that much.
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