Offshore Workers - Life Insurance & Critical Illness Quotes

Offshore workers - Life insurance critical illness income protection

Life Insurance for Oil Field Worker Life Insurance Quotes - Offshore Workers


If you are an offshore worker – as you are no doubt aware, Insurers do consider this to be higher risk for applications for - Life Insurance, Critical Illness & PHI Income Protection.

However, for offshore workers, the medical health aspect of your life insurance application should be less of a concern as you must be physically healthy to do your job role & must also pass regular occupational medicals to work offshore.

Uk Insurance providers are interested in a number of factors when it comes to underwriting those who work specifically offshore in the Oil & Gas Industry etc;. This will include information such as:

  • Geographical Location – eg; North Sea, UAE, Qatar, Oman, Thailand, Indonesia, Vietnam, Malaysia, Nigeria etc;
  • Offshore Drilling Location – Offshore Oil or Gas Rigs – do you live there also whilst working or the mainland in camp
  • Occupation – Risk will be based upon job role ie; divers, rig technicians, scaffolders, crane operators, rats, engineers or lower risk supervisory work
  • Work Pattern - For example "4 weeks on" & then "4 weeks off" back in UK
  • Occupational work duties - Working at heights, manual work, working underwater
  • Equipment / Machinery Used: Use of explosives, heavy mechanical machinery  
  • Forms of transport – How you get to typical offshore landing destinations, helicopter travel
  • Tax Status: Classified still as UK Based or classed as Expatriate
  • UK Based: You will need to be in UK at the time you take out protection cover policy – a medical maybe also needed especially if you visit higher risk countries

We deal with a Range of Insurers currently able to offer Offshore Workers terms for Life Insurance, Critical Illness Cover and Income Protection.

Offshore workers - Life Insurance - High Risk Specialists

Offshore Workers - Life Insurance Quotes - Broker Advice

Offshore Workers - Life Insurance Cover Quotes - Summary Article 2020

 Life Insurance - Term Insurance Policy Cover

This is the simplest & cheapest type of life insurance cover quote, and is known as term assurance cover plan because you choose how what term ie; how long you're covered for, say, 10, 20 or 30 years (the term).

Death Insurance policy term cover only pays out if you die within the term you've agreed. If you live longer than the term, you get nothing. As a couple, you can also take out Family Life Cover plan in both your names, with the policy paying out if either of you die during the term.

Also consider how large the new insurance cover when doing quotes - you need this if not covering say just a debt like a mortgage or loan. Common life insurance cover industry practise is say minimum 10 x salary for death insurance.

Things to look out for if requesting this cheap type of death insurance Life Cover Quote Online ...What type of new life cover policy do you want? For example

  • Increasing policy (where cover and premium rise over the years)
  • Renewable policies (which let you extend the original term).
  • Guaranteed (where life insurance premiums stay the same throughout the term)
  • Reviewable premiums (where life cover premiums may go up every year or 5 years gone up at a review)
  • Waiver of Premium (where the Insurer waives/protects & covers your premiums after a deferred period of 4/8/13/26 weeks due to sickness or accident)
  • Note their is usually no cash in or surrender values for death insurance
  • Given higher risks of some Offshore work - there maybe exclusions applied

Insurance for Death - Policy Cover Income Benefit Plan

This type of life insurance Cover policy pays out income to your Family rather than a lump sum & maybe suitable for those who require income insurance for their family on death. This Family Life Insurance Cover or Family Income Benefit plan may be increasing to help offset inflation. 

Whole of Life Cover and Death Insurance

Whole Life death insurance policies are designed to always pays out upon your death so logically are more expensive than term insurance as the risk is greater to the life insurance companies. Whole of Life death insurance is more expensive because it is certain that the life company will eventually have to pay the life sum insured.
Benefits are currently paid out tax free on death

  • Designed to pay out on death - whenever it occurs 
  • Whole Life Assurance Cover may be level or inflation linked 
  • Medical evidence may be required and a medical examination for those with health issues
  • Premiums may be guaranteed or if investment based reviewable
  • Maybe payable on death or earlier Terminal Illness
  • Benefits can be set up to be payable into Trust
  • Can be set up on sole or joint life 1st death claim basis 

Looking for Death Insurance for Funeral Expenses ?

Whole Life Death Insurance - A protection cover plan that via definition as the name implies, is insurance guaranteed for the whole of your life, whenever you die. Whole Life Cover is traditionally more popular with those looking for over 50's life cover to help cover funeral expenses.

Offshore Workers - Life Cover & Critical Illness

PHI Income Protection Cover ~ Offshore ~ Typical Key Features 

  • Designed to pay out Income to cover lost salary/wages not lump sum on accident or sickness
  • Usually has a waiting or deferred / waiting period from 1/4/8/13/26/52 weeks 
  • PHI benefits are currently paid out tax free on claim until you return to work or plan end date
  • Income Protection PHI wage cover can usually run upto age 65 if self employed contractor - although state pension ages are maybe beyond this to age 67
  • Income Insurance Benefits may be level or inflation linked 
  • Medical evidence is required to underwrite before any terms offered
  • Premiums may be none-reviewable, annually/5 yearly reviewable or age costed
  • Budget PHI salary cover may run upto age 65/70 but payout for only 12/24/60 months upon any claim
  • Cover may be based on maximum of say 50% to 65% of your gross earnings
  • Waiver of Premium (where the Insurer waives/protects & covers your premiums after a deferred period of 4/8/13/26 weeks due to sickness or accident) so you do not have to pay them in claim
  • Given higher risks of some Offshore work - there maybe exclusions applied

For more information on this & costs talk to a professional broker here

     Oil Field Workers - Offshore Contractors - Income Protection Insurance

For products with an investment element we will introduce you to an authorised adviser

Income Protection Insurance for Offshore Workers

If you can't work because of illness or disability, an income protection plan aims to pays out a tax-free income.

"PHI Income Insurance" tries to put you back into the same situation you were in before you were ill. But it does not allow you to be better off sick than well. So the maximum amount of income you can replace is the after-tax earnings you have lost, less an adjustment for any Uk State benefits you can possibly claim. 

This means that dependant on the Insurer - 50%/65% of your gross income but then paid out tax free. If self employed then this is usually based on last 12 months annual net profits. Note that the old PHI Insurance rules used to be based on 75% of income but then taxable (so beware of swopping these old plans without advice). So check what you maybe entitled to based on your profits at the last tax self assessment.

Solutions for Income Protection & Income Insurance Quotes for Scaffolders
Get Free Income Protection Sickpay Insurance Quotes For Scaffolders

Why not have Critical Illness Insurance Cover being a Offshore Worker - instead of Income Insurance ?

Critical illness cover (CIC) - pays out a tax-free lump sum if you are diagnosed with a life-threatening condition for example some forms of cancer, heart attack, stroke, diabetes etc; as specified and listed in the policy - is a possible cheaper and simpler alternative to Income Insurance.

But there are lots of common situations when CIC would not pay out - for example, if you had back problems or maybe a stress-related illness. Additionally, not all occurrences of the critical illnesses listed are covered, for example some lesser forms / early stages of cancer maybe not covered. Ideally you should have both plans if your budget allows this.

Given higher risks of some Offshore work - there maybe exclusions applied. For more information on this & costs talk to a professional broker here.

Is PHI Income Insurance for Offshore Workers - the same as Accident & Sickness Cover ?

Accident, Sickness &/or Unemployment insurance (ASU), can also be referred to confusingly as Income Protection, if doing research online, although it is a different product. ASU cover will provide you with an income to meet your outgoings if you are off work sick, have an accident or are made redundant. It pays out a monthly benefit to cover your mortgage/loan and other related costs but for a limited period.

You may choose the amount of benefit you would like to receive - although there are some limits on the maximum amount. The premium will be a percentage of the amount of monthly benefit you would like to receive. NOTE: Benefits are usually payable for a maximum of 12 or 24 months - unlike Income Insurance PHI which may pay up to when you retire usually age 65.

Some policies will also allow you to choose whether you want to receive benefits for accident and sickness only, unemployment only or all three. Most policies will also have a 'deferment period' usually 30 days. This is the period of time you will have to wait after losing your source of income until you may claim the policy benefit.

Given higher risks of some Offshore work - there maybe exclusions applied. For more information on this & costs talk to a professional broker here.

Life Insurance Specialists for Offshore Workers


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This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice. 
For protection we offer products based on a fair and personal analysis

By completing one of our no obligation quotation request forms, you may be provided with comparison protection quotes, key facts from leading Providers - based just on the basic information you have provided. Note: These quotes will not take account of any personal, health or lifestyle issues unless a full application is completed. You also consent for us to then kindly contact you by phone - where we may offer Professional Broker help & guidance if needed. We may as appropriate then help to arrange a suitable protection policy based upon your own circumstances & needs after a further review by "advice & recommendation". This will usually be on a non face to face basis. ‘As with all insurance policies, conditions and exclusions will apply’

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