Updated: November 20, 2019

Life Insurance for HGV Drivers

HGV drivers often need specific life insurance policies to fit the needs of their profession. This guide will tell you exactly how to secure the right cover

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Richard Angliss

Author: Richard Angliss - Finance Expert

Updated: November 20, 2019

Life insurance (sometimes known as ‘life cover’ or ‘life assurance’) is a policy designed to pay out to your family if you die during the period of your coverage. The purpose is to ease the financial burden that your death could put on your family.

Take a look at our detailed guide to life insurance for more information about life insurance, how it works and the different types of cover available.

This article looks at how being an HGV driver might impact the cost of life insurance.

If you want to save time, money and hassle, make an enquiry and find out how much life insurance will cost you.

All the expert advisors we work with are independent financial advisors with the tools and knowledge to ensure you get the best cover at the most competitive price on the market.

Alternatively, you can call us on 0808 189 0463 for a free, no-obligation chat.

A quick guide

As an HGV driver, you should be able to get life insurance on standard terms. However, since your job requires you to spend hours a day sitting in the same position, the likelihood of developing certain conditions increases.

The nature of your job could lead to health conditions such as:

  • Deep vein thrombosis.
  • High BMI
  • Type 2 diabetes (as a result of high BMI)

But, all things considered, getting cover as an HGV driver shouldn’t be difficult and you’re unlikely to be deemed high risk unless you regularly travel to certain regions or haul particularly dangerous chemicals.

As a general rule, the specifics of your day-to-day job will determine your risk profile and corresponding premium costs.

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How is life insurance calculated?

There are two sets of determining factors.

  1. Specialist factors, unique to your job – such as your average driving time.
  2. General factors, which are common to all kinds of life insurance – for example, your age and how long you want the cover to last.

 

Specialist factors

  • The amount of time you spend driving every day (the fewer the hours, the better).
  • The type of goods you haul. For example, dangerous goods such as explosive materials or hazardous chemicals.
  • Your routes – where you travel to and how long you spend there. Certain countries are seen as more dangerous and can increase your premiums.
  • How much heavy lifting you do? E.g. Do you regularly have to unload heavy goods?

General factors

  • The type of cover you want (ie. whole life or level term).
  • How much cover you want (ie. the total you want your life to be insured for).
  • How long you want the term of your cover to be.
  • Your general health and lifestyle (ie. whether you have any pre-existing illnesses, or whether you smoke).

How do I get the best deal?

That’s easy. Speak to an independent life insurance expert, who has experience working with HGV drivers and who can access the whole of the market. They can help you find out exactly what you need, and then help you to get the very best deal on that level of cover.

We work with whole-of-market insurance experts who have a strong track record when it comes to customers in specific professions, including HGV vehicle driving. Get in touch and we’ll introduce you to one of them for free.

The benefits of working with an expert insurance broker

  • Make sure you’re not under or over-insured: You may have some cover already through your employer, but an expert can help you to determine whether it’s enough – or whether you could get a better deal elsewhere.
  • Save money and get the best deal on the market: An independent advisor can access the entire insurance market. This includes little known and broker-only deals that the price comparison sites don’t know about.
  • Save yourself time: No need to handle all of the paperwork or spend ages trawling comparison sites. Let an expert handle it all for you.
  • Peace of mind: Know that someone who does this for a living has helped you to find the best deal possible, and is only a phone call away to answer any questions you may have.

Talk to a life insurance expert today

If you have questions about life insurance for HGV drivers and want to speak to an expert for the right advice, call 0808 189 0463 or make an enquiry.

All the advisors we work with are independent financial advisors with access to every insurance provider in the UK. They will be happy to answer all your questions and make sure you get the right level of cover at the best possible price.

The service we offer is free and there’s no obligation.

Ask a quick question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in higher-risk life insurance. Ask us a question and we'll get the best expert to help.

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Richard Angliss

Richard Angliss

Finance Expert

About the author

Richard Angliss has made a career in financial services which stretches over 40 years.

His early career was spent learning about the various financial products and applying them to prudent advice, working for one of the largest life assurance and investment firms. After that he joined the financial services arm of a very well-known firm providing independent advice to their 8 million customers.

For the last 20 years he has been involved in building software solutions that help Advisers and clients work together to achieve good financial outcomes and helping to set up three independent advisory firms. He also has written many articles for financial services publications and provided commentary for newspaper journalists.

At an early stage in his career he realised the great satisfaction that comes with being able to help people achieve their goals and protect their families. “Regulation of financial services has hugely impacted on ensuring people get appropriate advice. The issue these days is access to that advice and just as importantly regular reviews to make sure that everything stays on track”.

With the growing development of online resources such as Online Money Advisor he sees a great future for people to access advice to make their pension and investment work harder for them.  Plus, of course, to ensure they have insurance products in place that will be required when unforeseen events happen.

He knows getting that balance right is crucial to prudent financial planning and the wellbeing of individuals and their families.

FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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