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Life Insurance for Commercial Fishermen and Offshore Fishing Crew: Navigating High-Risk Coverage

  • Writer: Philippe Deray
    Philippe Deray
  • Nov 20
  • 4 min read

Working as a commercial fisherman or as part of an offshore fishing crew is widely recognized as one of the most hazardous occupations. According to the U.S. Bureau of Labor Statistics and the U.S. Coast Guard, commercial fishing consistently ranks among the deadliest jobs, with risks ranging from extreme weather conditions and rough seas to heavy equipment accidents and long hours in isolated environments. Despite these dangers, it is possible for individuals in this profession to obtain life insurance, though coverage may come with certain considerations, restrictions, or higher premiums.


Protecting fishermen’s families

Understanding the Risk Profile


Commercial fishermen face unique occupational hazards that directly impact life insurance considerations:

  1. Drowning and Hypothermia: Rough seas and sudden storms increase the likelihood of falling overboard, with hypothermia being a common secondary risk.

  2. Heavy Equipment Accidents: Deck machinery, winches, and nets can cause serious injuries, including crushing incidents or amputations.

  3. Extended Hours and Fatigue: Long shifts, often in extreme weather, increase accident risk and complicate underwriting.

  4. Isolation: Being offshore for extended periods means delayed medical intervention during emergencies.


These factors collectively place commercial fishing in a high-risk category, which insurers take seriously when evaluating life insurance applications.


Life Insurance Considerations for High-Risk Occupations


While commercial fishermen are at higher risk than many other professions, life insurance is still accessible with careful planning. Policies and terms may differ compared to standard coverage due to the occupational hazards. Here are key factors to consider:

  1. Occupation Classification: Insurers categorize high-risk occupations differently. Commercial fishing is usually listed as high-risk, and policies may include specific clauses related to offshore activity. Some insurers differentiate between nearshore fishing (closer to port, lower risk) and deep-sea or offshore fishing (higher risk).

  2. Policy Type: Term life insurance is often more readily obtainable than permanent insurance due to cost and risk factors. However, some high-net-worth individuals may explore universal or whole life policies tailored to high-risk careers.

  3. Premium Adjustments: Higher risk may result in increased premiums. The extent of the adjustment often depends on the frequency and type of offshore exposure, years of experience, and safety measures followed.

  4. Safety Records and Experience: Applicants with extensive experience, training, and a documented safety record may find it easier to secure life insurance. Participation in safety programs, certifications in survival training, and proven adherence to safety protocols can positively influence underwriting decisions.

  5. Medical History: Insurers evaluate overall health alongside occupational risk. A healthy applicant with no chronic illnesses or history of accidents may possibly secure coverage with better terms than a high-risk individual with pre-existing conditions.


Underwriting Challenges and Possible Solutions


Due to the inherent dangers, underwriting for commercial fishermen often requires additional documentation and risk assessment:

  • Detailed Occupational Questionnaire: Applicants may need to provide information about the type of fishing, duration at sea, and safety protocols in place.

  • Experience Verification: Proof of years working in the industry, safety certifications, and prior incident history may be requested.

  • Geographic Considerations: Insurers may assess risk differently based on operating areas, such as the Gulf of Mexico versus Alaskan waters, where conditions vary significantly.

  • Optional Riders or Exclusions: Some policies may offer riders for accidental death specifically, or they may exclude certain high-risk scenarios, such as working during severe storms or in specific offshore zones.


While these factors introduce complexity, they do not eliminate the possibility of life insurance. Instead, they emphasize the importance of selecting an insurer experienced in high-risk occupation coverage.


Strategies to Improve Insurability


Commercial fishermen seeking life insurance can take proactive steps to improve their chances of obtaining coverage:

  1. Invest in Safety Measures: Life jackets, emergency beacons, and adherence to maritime safety regulations demonstrate responsible risk management.

  2. Document Experience and Training: Maintain records of maritime certifications, first-aid training, and participation in occupational safety programs.

  3. Consider Lower-Risk Periods: If possible, highlight periods of employment where offshore exposure was limited, or nearshore duties were performed.

  4. Work with Specialized Brokers: Some insurance brokers specialize in high-risk occupations and may have access to insurers more familiar with commercial fishing risks.

  5. Health Optimization: Maintaining optimal health, including cardiovascular fitness and absence of chronic conditions, supports favorable underwriting.


Potential Policy Options


While individual circumstances vary, commercial fishermen may possibly explore the following types of life insurance:

  • Term Life Insurance: Offers coverage for a specific period, generally less expensive and simpler to obtain than permanent policies. Often preferred for high-risk occupations.

  • Accidental Death Policies: Can supplement primary coverage by providing additional benefits if death results directly from an accident, which may be particularly relevant given occupational hazards.

  • Permanent Life Insurance: Includes whole life or universal life policies. Availability may be limited or subject to higher premiums, but can be considered by those seeking lifelong coverage and potential cash value accumulation.


Conclusion


Life insurance for commercial fishermen and offshore fishing crew members is accessible, though the process may involve higher scrutiny and potentially elevated premiums. By demonstrating experience, adherence to safety protocols, and maintaining a strong health profile, individuals in this high-risk profession can possibly secure coverage that provides financial protection for their families. While underwriting for commercial fishing is complex, working with knowledgeable brokers and insurers experienced in high-risk occupations greatly enhances the likelihood of finding a suitable policy.


Ultimately, life insurance is a crucial tool for managing the financial risks associated with one of the world’s most dangerous professions. With careful planning, documentation, and awareness of policy options, commercial fishermen can navigate the high-risk insurance landscape and achieve meaningful protection for themselves and their loved ones.


Life Insurance Disclaimer

Disclaimer: This article is for informational purposes only and is not legal, financial, or insurance advice. Life insurance needs and products vary by individual, state, and insurer. Policies may involve fees, costs, and limitations. Some policies include a cash value component that can grow over time, and certain strategies may allow for accumulation beyond basic protection. Results are not guaranteed and may vary by policy, insurer, and state. Consult a licensed insurance professional before making any life insurance decisions.





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