Risk and Occupation

Definition - What does Risk and Occupation mean?

"Risk and occupation" refers to the degree to which occupational and other risks can affect an insurance applicant's insurability for life insurance and disability insurance companies. Certain people have a higher degree of risk due to lifestyle habits, such as smoking or heavy drinking, while some have a higher degree of risk from working in dangerous professions, such as logging.

Insuranceopedia explains Risk and Occupation

A person's risk and occupation can dramatically impact their insurance rates. In general, the higher the risk and the more dangerous the occupation, the higher the insurance premiums.

Some of the most dangerous professions are logging, fishing, roofing, construction, steel working, and power line installation. People who work in these professions can face more difficulty getting life or disability insurance because insurance companies will view them as having a very high risk of filing a claim.

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