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The Best Life Insurance for Oil Rig Workers

The Best Life Insurance for Oil Rig Workers

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In This Article I’m Going To Discuss The Best Life Insurance Options Available For Oil Rig Worker

Most likely you are reading this article because you yourself are an oil rig worker and understand the importance of having significant life insurance coverage to replace your income, take care of final expenses and otherwise leave your family in economic safety should you pass away earlier than expected.

Or perhaps you don’t work in the oil rig business, but know someone that does and you’re trying to help find information on qualifying for life insurance as an oil rig worker. Maybe you have heard that oil rig worker sometimes get declined for life insurance or experience higher prices because of their high risk profession.

Whether you are an oil rig worker or know someone who works in that profession, you’ve come to the right place.

In this article we will cover all the reasons why oil rig workers should carry life insurance coverage as well as answer the questions you might have about insurability potential as well as pricing.

Specifically, We’re Going To Cover The Following Topics As They Relate To Insurance Options For Oil Rig Workers:

Why should oil rig workers purchase life insurance?

The top 5 reasons why buy life insurance as a oil rig worker

As someone who works in the oil rig business or knows somebody who works in the oil rig business, you understand that there is a high risk involved working offshore drilling for oil. You’re literally on a man made island surrounded by the ocean, working in a highly mechanical environment that requires intensive manual labor for long periods of time.

Studies show that oil rig workers have a higher occurrence of death on the job versus other lines of work. If nothing else, this should reinforce the importance of carrying some kind of life insurance to protect the people you love if you were to pass away earlier than expected.

What follows are a couple of important considerations as to why people purchase life insurance that work on an oil rig.

We hear at Buy Life Insurance for Burial are dedicated to helping people like you get affordable life insurance whether you use it to cover things such as final expenses like burial and cremation or to replace your income to provide a sense of security to your loved ones.

Our job is to help find the most competitively priced option available to you in accommodation with making sure we provide the best value coverage that we can provide.

Let us help by providing a free quote. It only takes 10 minutes or less and can be done by phone at 888 626-0439. You can also submit a message to the left hand side of the screen and we will reach out to you within the next 24 business hours.

Example Case Studies

Birth of first child

A client recently reached out to me because of the birth of their first child. This experience caused this oil rig worker to think seriously about the long term and his child’s welfare if something were to happen and he died unexpectedly.

The one issue my client had was that he had a bit of a weight problem. He wasn’t tremendously overweight but it was obvious he had a little extra weight. He was concerned that his weight issue would cause a qualification issue with his life insurance coverage.

The good news is that since he decided to work with Buy Life Insurance for Burial we were able to shop the most competitively priced companies out there and offer him the best combination of pricing and coverage. At the end of the day he was pleased with the offer and decided to go with an affordable rate to fit his budget.

While no one can guarantee that you will be eligible for coverage if you match the same circumstances, what we can promise at Buy Life Insurance for Burial is that we’ll do our best to get you the best combination of price and coverage for your life insurance. Ultimately we want to ensure you get as much peace of mind as possible knowing that your loved ones are protected and covered in case you die prematurely and unexpectedly.

Replace Income

A 40 year old man named Mr. Thomas contacted me because he was afraid that upon his passing his wife, who did not earn nearly as much in retirement, would have to dramatically negatively alter the lifestyle that he and her had built over the course of his life. He was looking at a life insurance plan to simply replace his otherwise normal income and leave his spouse in a more certain position financially.

The only problem was that Mr. Thomas was on a fixed income as an oil rig worker. He didn’t have a lot to spare toward life insurance and needed to find a plan that would fit easily in his budget.

Despite his budget, Buy Life Insurance for Burial was able to contact a number of different life insurance companies on his behalf and find a plan that was both affordable and met his life insurance goals. While I can’t promise the same outcome for everyone, at Buy Life Insurance for Burial we strive to help our clients find quality life insurance coverage at an affordable price. We do our best to meet not only your insurance goals, but also the monthly premium price you are willing to pay. 


Why oil rig worker buy burial life insurance

Cover death expenses

Many people purchased life insurance because they’re concerned if they pass away earlier than expected that a spouse or their children will have to overcome debts and might be overwhelmed financially by that responsibility. Most commonly Americans owe debt on credit cards, car loans, and on their mortgage loans.

Sometimes this amount of debt can be quite staggering, reaching even into the six figures. Imagine for a moment if you lose your life and you leave behind your spouse and children who probably relied mostly on your income as the primary source of their lifestyle. What would happen the following day if you pass away and your checks from your work as an oil rig worker disappeared.

If you feel like they would struggle financially and have to downsize, possibly moving away from the home and the life that you have built, then life insurance is definitely something you should consider.

Life insurance can take care of final expenses that would otherwise burden your loved ones and cause them to potentially struggle with more expense than they can pay out of pocket.

Replace income

One of the biggest reasons why people buy life insurance coverage is to replace their income as an oil rig worker.

Most likely, you carry an additional two to three times your annual income as part of a group life insurance policy. However, this is not enough coverage when you account for current and future debt such as mortgages, credit cards, college loan payments, and saving for retirement.

It’s very likely that your small life insurance policy through work will not substantially cover what’s necessary to achieve maximal financial peace of mind.

Financial experts commonly recommend 10 times your annual income as a way to insure against current and future debt as well as to replace your income for many years to come.

This provides a maximum amount of financial support for your surviving family. That means if you make $80,000 a year, having $800,000 in life insurance coverage is a good starting point to ensure there’s enough coverage in place to take care of your family.


Life insurance is the best gift for your family

Ultimately, life insurance comes down to one motivating factor – love.

Life insurance is one of the few purchases, if not the only purchase, in life that you know you will never get to experience the benefits of. Sure you experienced peace of mind and some satisfaction, but truly the biggest economic benefit from life insurance comes when you die and that money is paid to somebody else by default.

You’ll never enjoy the benefits of life insurance because you’ll be dead. So it takes a caring person, somebody who loves their family, who understands what may occur in the future and accepts that their life is not permanent, to purchase life insurance.

That’s why I think life insurance is the ultimate act of love. And if you do love your family, life insurance is something that you will appreciate as an obvious way to protect them.

If you’ve liked what you’ve read so far and are interested in seeing what you may qualify for regarding life insurance or burial insurance give us a call at 888 626-0439 now to receive a free, no obligation quote. You’ll speak to one of our friendly representatives who are experts in the life insurance field.

Alternatively you can send us a message directly either on the left or bottom side of the screen requesting the information you are looking for and we will get back to you within the next 24 business hours to let you know what your options might be.

Stories from the field

Many oil rig workers are concerned about their options for life insurance because they have had heart attacks, strokes, stints, seizures, aneurysms, or pacemakers. Luckily all of these issues with enough time can be circumvented and it becomes simpler to find quality, first day full coverage after some time has passed.

At Buy Life Insurance for Burial I have had clients that have had all different kinds of heart issues. When enough time passed we were able to get that person enough coverage on the books that they were covered the first day. This was a great relief to them. They felt positive and happy about their coverage options and it gave them the peace of mind they were looking for.

What factors affect an oil rig worker’s insurability?

Let’s discuss the factors that may affect your capability to qualify for life insurance coverage. We will also talk about the most typical aspects on an application that will apply to oil rig workers.

Your health

Your health has a direct and immediate impact on your level of insureability. On most life insurance applications you will be asked a number of different health related questions. Most common questions include, but are not limited to:

Do you have a history of…

  • Heart disease
  • Circulatory disease
  • Cancer
  • Lung disease
  • Diabetes
  • Kidney disease
  • Liver disease
  • Neurological conditions
  • Mental health problems
  • Hospitalizations
  • Surgical procedures
  • Medication usage

Be aware, depending on your circumstances, these general questions can stem into other, more detailed questions.

If any of these health problems relate to your particular circumstances, keep in mind that working with a broker like us here at Buy Life Insurance for Burial can make a big difference in coverage and cost.

We’ll discuss the importance of working with a broker later so that you can better understand the advantages in regards to value of coverage and price.


Age impacts the application qualification process as well as price. As you can imagine, the younger you are, the better the price. Despite that, working with a broker can help source the best overall pricing, so do not use age as an excuse to not buy insurance. In fact, age is a perfect reason to buy life insurance because you are not getting any younger, only getting older, which means prices will continue to go up.

Height and weight

Your weight, as it compares to your height, may have an impact on your coverage quality. The heavier you are, the greater the potential you will pay more. Granted, some companies are more lenient on weight issues than others, which justifies, again, why it’s beneficial to work with a broker.


Yes, smoking does cause higher rates. But there aren’t any companies I know of that disqualify you for smoking. They’ll just charge you a higher fee. Granted, if you smoke cigars, cigarillos chew tobacco or smoke pipes there are companies that may grant you non-tobacco rates, saving you a significant sum of money.

Contact us at Buy Life Insurance for Burial for more information.


In addition to ascertaining questions about your general health, your insurance company will also want to know about your general lifestyle. Do you have a history of car accidents, DUIs, any misdemeanors or felonies?

Do you participate in risky hobbies such as mixed martial arts, scuba diving, or hang gliding? Life insurance companies will want to develop a full profile on who you are as a person to figure out how they should grade your overall pricing for your life insurance premium.


The last point we will mention here relates directly to oil rig workers, as you may face the potential for having an increase in your coverage premiums because of the nature of your work. While some companies are willing to rate oil rig workers as preferred risks, some companies may also consider issuing what’s called a flat extra.

A flat extra is essentially a rating class that signifies what premium you’ll pay based on the overall risk posed to your life. The insurance company takes into account the nature of your work, the risk involved, and will apply a flat extra as an additional cost on top of your premium.

For example, if your premium is $500 a year for $100,000 dollars at a preferred plus rate and the flat extra is $5 for every $1,000 in coverage, that means for a total of $100,000, you’ll pay an additional $500 on top of the $500 premium, giving you a total annual premium payment of $1,000.

This is how life insurance companies account for some high risk professions, hobbies, and other issues in order to offer more people insurance coverage and avoid turning people down because of risky hobbies or professions.

Keep in mind just because I’m mentioning this does not make it a guarantee. We work with different insurance carriers, many of whom can give us better rates and skip the flat extra altogether under certain circumstance.  

Strategies to get the best price on life insurance for oil rig workers

What follows is a brief analysis of what my experience as a life insurance professional has taught me regarding getting the best price for my clients who are oil rig workers.

Always work with a broker

I’ve mentioned this several times already. Perhaps you’ve construed this suggestion as a benefit to the broker, but I assure you that isn’t the case. Simply put, a broker is someone who works for multiple companies with the goal of shopping the companies to see who’s going to give you the best price and the best overall value.

This is in juxtaposition to the agent who only works with one company who has one option that may not be the best price and coverage.

Oil rig workers are in the perfect position to benefit from brokers because some companies will not take on oil rig workers because of the belief that due to the high risk nature of the business, it is a loss for the company to insure somebody in that position.

Whereas others don’t necessarily care and won’t write you up. You wouldn’t know which ones to work with without working with a broker that understands the difference and what’s out there. Brokers can take your unique circumstances and health profile and find the best rates. 

Consider an exam if feasible

As an oil rig worker, you work on an oil rig for an extended period of time, so an exam may not be a possibility. However, if you are going to qualify for life insurance and you’re in decent shape, taking an exam in many cases can lock you in at a much more competitive rate and allows for more coverage at the same price.

I personally experienced the value of taking an exam. I save up to $1,000 a year with my life insurance coverage because I opted to take an exam, which only involved a blood sample, answering a health questionnaire and having my blood pressure checked.

Top 7 Reasons People Buy Life Insurance for Income Replacement

1.Love their family
The biggest reason people purchase any kind of life insurance is simply because they love their family and want to make sure they are taken care of.Think about it, life insurance is a strange product that you pay for but never really see the benefits of until you die. It takes a person who really wants to invest in their family’s future to purchase life insurance.

2.Realizes mortality 
Some people don’t want to think about their own mortality. But those that understand life is fleeting know that you can die at any point, even if you are healthy. It’s important to have life insurance in place to protect against this uncertainty. Especially if you are healthy, because if your health declines it may be harder to get coverage.

3.Rates are affordable
When you work with Buy Life Insurance for Burial you get the best price and coverage out there. We are able to choose among a number of companies to find a plan that fits your budget and goals, whatever they might be.

4.Custom tailored
We can customize your plan to meet not only your budget, but also your insurance goals, whether that’s a $5,000 plan or a $500,000 plan.

5.Covers debts
Insurance can cover debts such as funeral expenses, credit cards, loans, and many other financial obligations once you pass away by paying a lump sum to your beneficiary.

Riders are beneficial additions you can add to your policy that can cover disability, illness, and other life situations.

7.Exam is optional
Depending on your situation, an exam can save you money on your premium, though it isn’t required. Many companies offer competitively priced packages that rely on your previous medical history to determine eligibility and don’t require an exam.

What kind of life insurance should I consider?

There’s generally two different types of life insurance programs available, depending on your goals. I can tell you with certainty that 80 percent of the people who are working as oil rig workers are not near retirement and will probably purchase a term life insurance plan.

Term Life Insurance

Simply put, term life insurance provides the most coverage for the least amount of money. It is designed to last for a specific period of time, usually between 10, 20 and 30 years. The premiums remain level and should you die at any point before the term expires, the policy pays your beneficiary the amount of money that you set up as coverage.

This policy is great because it covers the things that are necessary to ultimately retire, but that you may not need once you retire, such as income replacement. Remember, if you pass away within the term period, term insurance can replace your income to pay for expenses that you would have otherwise paid off.

Term Life Insurance Coverage – 10 Year Term – $100,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $250,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $500,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $1,000,000 in Coverage


David Duford owner of buy life insurance for burial

Thanks for reading, and I hope you’ve gained truly valuable information on your search for life or burial insurance. If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for your free life insurance quote!

Most likely term insurance will be your best bet if you are not close to retirement and you can enjoy the added advantage of getting the best overall price as far as insurance plans go.

Permanent Life Insurance

Permanent life insurance guarantees a payout of a death benefit as long as the premium payments are satisfied.

In many cases, most permanent plans do not cancel with age or health and there is the possibility that you can pay the entirety of the plan off without having to make any further payments, while still enjoying coverage.

The downside is that permanent life insurance typically costs 5 to 10 times as much as other insurance options such as term insurance. This puts many people off and causes them to go with a plan they feel is more affordable, though it may not be permanent in nature.

Rates For $10,000 In Burial Insurance

Rates For $25,000 In Burial Insurance


$150,000 Whole Life Insurance, Life Pay

$250,000 Whole Life Insurance, Life Pay

I hope you found the information in this article helpful and that you take action toward getting coverage in place that helps you accomplish your goals, whatever they might be.

It’s easy to get in touch and find out more about your life insurance options. You can call us direct at 888 626-0439 now to speak to an experienced broker who can explain more about how policies work. A call takes 10 minutes or less and is obligation free. 

If you’d rather send us a message, you can contact us through the message box on the left hand side of the screen. Simply provide your name and contact information, as well as what kind of insurance goals you have so that we can find a program that’s right for you. 

Thanks for your interest and thanks for reading this article.    


We work with individuals across the nation to secure the best life insurance rates.

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