How will being a truck driver impacts your life insurance?
Yes, you could secure life insurance as a truck driver.
Your life insurance application and premiums (monthly payments) can be affected by your personal and occupational information. Nevertheless, being a truck/lorry driver is unlikely to impact your ability to secure cover.
Approximately 268,000 people were employed as HGV (heavy goods vehicle) drivers in 2021[1].
While lorry drivers require additional licences and extra qualifications for dangerous jobs, there could be the potential for some occupational hazards (depending on the type of driving you do).
With your vehicle, cargo and other drivers presenting potential risks, it's important to look at securing life insurance if the worst were to happen to you.
This way, your family members will have some financial stability if you were no longer around.
Secure life insurance through LifePro. Simply contact us today or check how much life insurance you require with our life insurance calculator .
Why secure life insurance for truck drivers through LifePro?
- Whole-of-market comparison from 50+ UK insurers
- Expert advice from FCA-regulated advisors
- No extra cost - insurers pay our commission
- Fast quotes in 60 seconds
- Support throughout your policy lifetime
How much is truck driving life insurance?
No two truck drivers will pay the samelife insurance premiums, and there's no specific lorry driver life insuranceproduct.
How much you pay depends on your personal circumstances, and your occupation.
Why do you need life insurance as a truck driver?
Many companies insure the vehicles and goods of their HGV drivers. Nevertheless, personal life insurance is not always provided.
Some companies may provide their drivers with death in service benefit. This is an employee benefit which can payout a multiple of your salary if you die while you're in employment.
While this is a generous benefit, the amount paid out is unlikely to cover all financial commitments for your family members, so it can be beneficial to secure your own personal policy.
In 2023, there were 188 road fatalities involving HGVs and 659 casualties[3].
While licenses which must be resat every few years, and yearly classroom work help impose safety regulations on UK drivers, it's important to have cover in place if the worst were to happen.
This is especially important, if death in service benefit isn't offered by your employer.
A life insurance payout could help to cover the following for your family members:
How much life insurance do you need?
Enter your financial commitments to understand the level of life insurance cover you require as a UK truck driver.
The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.
Consider the following when calculating your life insurance needs:
- Outstanding mortgage balance
- Other debts and loans
- Income replacement for your family (typically 5-10 years of salary)
- Children's education costs
- Funeral expenses (typically £4,000-£10,000)
- Any specific financial goals for your dependents
For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).
Use our free comparison tool to get personalised quotes from 50+ UK insurers, including Life Insurance For Truck Drivers, and find the right level of cover for your needs at the best available price.
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Life insurance policy options for truck drivers
There are many life insurance options available to truck drivers. LifePro can assist you secure one of four different life insurance policies.
These life insurance policies aren't specifically designed for truck drivers, and there's no specific truck driving life insurance that exists.
However, they can all be beneficial, depending on your personal circumstances and what you'd like to cover.
The tables below shows the 4 types of life insurance:
