Top 5 Jobs Which Require Life Insurance


 Top 5 Jobs Which Require Life Insurance

Many people associate life insurance coverage with a handful of well-known jobs — police officer, firefighter, etc. But there are many careers that require life insurance coverage as a safety measure to protect the workers’ families in the event of their death. If you're considering taking on one of these professions, it's important to know what type of coverage you'll need and how much can be expected to pay for it.

In this post we'll take a look at five jobs which require life insurance so you can make an informed decision before signing up. We'll also provide some resources if you want to find out more about the costs related to this type of coverage or about other types that might interest you.

Police officer

Unless you're in the U.S. police academy, nearly every police officer is required to carry at least some form of life insurance due to the potential hazards they face on a daily basis, including the possibility of an injury or accident that leads to their death. For example, the average salary for a police officer in Los Angeles was $91,648 a year according to 2014 Bureau of Labor Statistics data. In order for this person to provide for his family in the event of his death, he needs at least $761,000 of life insurance protection ($2,000 per month x 12 months x 12 years = $761k). Many patrol officers get even more coverage.

Army personnel

Army personnel who are involved in active combat may be required to carry life insurance. The reasoning here is similar to that of police officers: the job is risky, and families should be provided for in case something happens to the soldier. In order for a soldier with a starting salary of $21,538 per year (according to 2014 BLS data) to afford $2,000 per month in life insurance if they pass away, they would need $552,000 worth of coverage ($761k / 12 x 12). However, there are some types of Army personnel that are required to have higher amounts of coverage than others. For example:

Special forces operators must carry $500,000 of life insurance.

Navy SEALS and other special forces operators must carry $500,000 of life insurance.

Airborne special forces operators must carry $500,000 of life insurance.

Marines assigned to the Marines Special Operations Command are required to carry $250,000 of life insurance.

Marines in amphibious assault units can choose to carry either $300,000 or $400,000 in coverage depending on their job selection. An infantry battalion chief was quoted as saying "I don't need a lot of life insurance because I'm in the infantry not the special operations division. But I'll take anything that they want to offer. It's better than nothing."

Air Force officers are not required to carry life insurance. They can choose to participate in the Air Force Survivor Benefit Plan, which would provide at least $10,000 per month to a family for 36 months. As of 2014, this plan has a $1 million maximum benefit.

Bike couriers

This occupation requires fast reflexes and good senses of direction. Bike messengers carry important documents from one point to another, and even though it's more about speed than strength, they still need some level of physical fitness in order to do their job properly. The average salary for a bike messenger was $27,540 per year ($11.83 per hour) according to 2014 Bureau of Labor Statistics data. A bike messenger with a spouse and two young children would need $421,000 of life insurance in order to replace his income and cover the other expenses he would have been taking care of (like sending his kids to college or saving for retirement).


Pilots are among the highest-paid members of this list, mostly because they usually work for commercial airlines (such as Delta or United), where the annual salary ranges from $45,659 to $196,261 depending on the level at which they work. The Federal Aviation Administration mandates that all commercial airline pilots have at least $500,000 worth of life insurance. According to the FAA, they need insurance in order to protect their families and ensure that they won't be held responsible for the safety of other people if something happens to them. They also need this coverage in case they are unable to work due to sickness or injury.


Engineers are highly-skilled individuals that work primarily with math and science. They interact with customers, partners, or other engineers but also do their own research and problem solving, which can be quite complicated at times. Engineers (of all types) have a reputation of being some of the best-paid employees in a company (just check out Forbes' list of America's 100 Highest Paid CEOs). The average annual salary for an engineer or engineering technician was $87,530 per year (according to 2014 Bureau of Labor Statistics data). An engineer with a spouse and two children would need $1.1 million in life insurance to replace his income and cover the other expenses he would have been taking care of (like saving for retirement).


http://www.usatoday. com/story/news/nation-now/2014/06/21/marines-special-operations-unit-death-benefit/10954729

http://money.usnews .com/careers/best-jobs/rankings/bike-messenger-salary /smallbusinessindustries/#tab-2

http://money.usnews .com/careers/best-jobs/rankings/?slide=2

http://money.usnews .


The figures we looked at in this article show that the life insurance premium is directly proportional to the salary and the income replacement needs of a potential policyholder. That doesn't mean that someone making $30,000 per year will pay the same amount as someone earning $300,000 per year. They may yet be required to pay more than their counterparts because they are less likely to be able to afford life insurance coverage on their own. This usually means that companies will offer them a group life insurance plan or contribute money towards their coverage so that they can still get it even though they aren't making very much money...

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