What is Speciality Risk? Within Life Insurance and Disability Insurance the term ‘Speciality Risk’ describes people or situations who do not fall into the category of normal in the eyes of an insurance company. This can be due to occupation, high income, health issues, or unique needs. Utilizing a ‘Speciality Risk’ life insurance or disability insurance policy is not necessarily a bad thing, nor does it necessarily mean higher premium costs. Speciality Risk means out of the box thinking and approaches.
Some examples of speciality risk include:
- Airline, Military, & Law Enforcement Pilots
- Law Enforcement SWAT or Dive Team Members
- Highly Compensated Medical Professionals
- Project Completion (Movies, Construction,
- Military Pilots & Contractors
- Professional Athletes, Actors, & Musicians
- Unique Health Issues (ie. Weight, Kidney, HIV)
- International Travel
- Business Owners
These are just a few examples of unique situations which require an insurance expert with experience. Bryan Wisda, Almega Life Solutions’ President, has almost 2 decades experience working with the wealthy clientele who often times require a speciality risk insurance program. Speciality Risk lies at the core of our mantra, Simplify Complex, Realize Impossible.