Working in the oil and gas industry can be rewarding, but it also comes with unique risks and challenges. The Bureau of Labor Statistics reports that oil and gas workers are more than twice as likely to be seriously injured or worse on the job than workers in other industries. We understand that the thought of something happening to you can be unsettling, and that's why we want to help you and your loved ones prepare for the unexpected.
One way to protect your loved ones is by having a comprehensive financial plan in place that includes life insurance. Life insurance can provide financial security for your loved ones if you are unable to work due to an injury or illness. It can help pay for funeral expenses, outstanding debts, and other financial obligations, giving your family one less thing to worry about during a difficult time.
There are many different types of life insurance policies available, so it's important to work with a financial advisor to find the policy that is right for you. Some of the most common types of life insurance policies include:
- Term life insurance: This type of policy provides coverage for a specific period of time, such as 20 or 30 years. Term life insurance is typically the most affordable option, and it is a choice for people who need coverage for a specific period of time, such as when they have young children or a large mortgage.
- Permanent life insurance: This type of policy provides coverage for your entire life, and it can also build cash value over time. Permanent life insurance could be a good choice for people who want to have lifelong coverage and who want to build wealth.
We know that every oil and gas worker's situation is unique, which is why it's important to work with a financial advisor to find the policy that is right for you and provides you with enough coverage.