Like with so many subjects that prompt us to write a blog post, we have had some enquiries recently from people working in farming or agriculture or have a partner that does so.
Interestingly, there were differing reasons why the individuals approached us in the first place. An example of one was prompted by a couple getting a quote from a ‘specialist’ insurer that they thought was on the high side and so had felt they should look around at other options before they accepted (even though the ‘specialist’ had told them this would be pointless as one of the applicants occupations would restrict them from applying in the main stream). In this instance, we were able to offer a significantly lower quote without any restriction to when a claim could be made or the number of conditions covered in the policy.
So with this in mind we thought it would be worth clarifying a few things in respect of those individuals whose occupations include farmer, agricultural worker or indeed any variation thereof.
Firstly, people with agriculture based occupations do not automatically need a specialist insurer when applying for life assurance and/or critical illness cover. All of the insurers on our panel (of which there are many being an Independent Broker), will accept farmers as they will with many other occupations. If you have been told any different, then what you have been told is incorrect.
Secondly, it seems that there may be a common misconception that an occupation of ‘farmer’ (or a related/similar occupation), means there is an automatic price increase or indeed exclusion/s to a policy. This is not the case. All of our panel of insurers accept such occupations on standard rates and without any standard exclusion. That means the same rates that a person whose occupation was for example, office based.
So what does this all mean for you if you have an occupation that falls into the category of those discussed above? Well, if you have a life assurance or critical illness policy at the moment, it could be that you are paying more than you need to for it. It could also mean that if you have restricted your search to the ‘specialist’ only, then you may be missing out on a policy that could be more comprehensive for you as well as cheaper. If you are looking for some protection for the first time then take our word for it; the whole of the market is available for you to peruse and find the deal that suits you best, be it on price, comprehensiveness or indeed a combination of both.
So why not start with a quote from us at I’m Insured or speak to one of our consultants to talk through your options if what you need is a more tailored plan. Then maybe compare that to the ‘specialist’ and make up your own mind where the best value for money is.