Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jan 4, 2022

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The Truth in a Nutshell

  • Life coaching is a low-risk occupation, so it shouldn’t affect your life insurance rates
  • Depending on how the insurer views your occupation, you may pay more for life insurance
  • Your occupation is not the only thing that impacts life insurance rates

If you’re looking for life insurance for life coaches, you should find no difficulty in getting coverage. Life coaching is generally considered a low-risk occupation and shouldn’t increase your rates.

If you want coverage as a life coach, consider going over these helpful insurance topics.

Are you trying to find life insurance companies that cover life coaching? You may have trouble getting life coaching covered by insurance, but you can still compare quotes from the top insurance companies in your area.

Enter your ZIP code into our free quote tool to get started.

What are some life insurance companies that cover life coaching?

Life coaches provide a valuable service to people in need of assistance and direction. Fortunately, it is not considered a high-risk occupation when it comes to getting life insurance. That means you should have no trouble getting coverage.

Of course, that depends on a lot of other factors as well, since your job is only a small piece of the puzzle when it comes to life insurance rates.

You should be able to apply for coverage from any of the top life insurance companies in the nation. Take a look at the top ten companies by market share below.

Top 10 Individual Life Insurance Companies by Market Share
RankCompaniesDirect Premiums WrittenMarket Share
1Northwestern Mutual Life Insurance Company$10,547,469,0008.2%
2Lincoln National Corporation$7,467,869,0005.8%
3New York Life Insurance Group$7,331,015,0005.7%
4Massachusetts Mutual Life Insurance Company$6,171,213,0004.8%
5Prudential Financial$5,806,118,0004.5%
6John Hancock Life Insurance Company$4,651,894,0003.6%
7State Farm$4,593,999,0003.6%
8Transamerica$3,770,584,0003.6%
9Pacific Life$3,770,584,0002.9%
10MetLife$3,724,165,0002.9%
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Life insurance companies that don’t cover life coaching probably aren’t excluding you based solely on your job. If you are a life coach and you are turned down for life insurance, it’s likely due to other factors like your age and health.

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What other factors impact life insurance rates for life coaches?

Although life insurance companies do look at your job when calculating your rates, it’s only one factor. Although your job as a life coach is not high-risk, you may have other risk factors that increase your rates.

Life insurance companies will consider things like:

  • Age
  • Health and medical history, including prescriptions you take
  • Height and weight
  • Smoking, alcohol, and recreational drug use
  • Lifestyle and hobbies

Lifestyle factors that affect life insurance rates include things like frequent travel, while hobbies like skydiving are red flags for insurance companies.

Whether you choose a whole life insurance policy or select term life will also affect your rates. Whole life is generally more expensive than term life since it covers you until you die regardless of how many years you live.

What are life insurance options for life coaches?

Life coaches should have no difficulty finding life insurance, which means all types of policies are available to you. Of course, that does depend on the other factors mentioned above.

If you’re in good health, however, you should be able to choose from a variety of policies, including:

  • Term life
  • Whole life
  • Universal life
  • Final expense or burial insurance

The type of policy you choose really depends on your needs. If you need coverage for a short period of time, term life is a good pick. If you just want coverage for funeral expenses, look at a final expense policy.

What’s the best insurance for life coaches?

As mentioned in the previous section, the best life insurance for you depends on your needs.

If you want to apply for life insurance as a life coach, you may need to lower your risk in order to get more affordable life insurance rates. You can achieve this in a multitude of ways.

Some of the best ways to lower your life insurance risk include:

  • Eat healthier and get more exercise
  • Quit smoking and reduce alcohol intake
  • Sign up for a term life insurance policy instead of whole life
  • Avoid risky hobbies and lifestyle habits

Really, anything you can do to lower the risk in your life will show your insurer that you are dedicated to living a long and healthy life.

When deciding which policy to get, you should consider your needs and what each type can offer you.

For instance, those who will benefit from a whole life insurance policy are people who won’t have to pay through the roof to cover the risk that the insurance company takes on.

On the other hand, term life is considerably less risk for the insurer to take on, meaning that anyone will pay less for this policy. If you’re not happy about the potential to lose coverage, you could consider a life insurance company that offers term life with a renewable option.

A 20-year term life insurance policy can cost around $147 a month, depending on your other risk factors and demographics.

What’s the difference between therapy and life coaching?

Many people wrongfully assume that a therapist and life coach are essentially the same, with occupations that may seem similar on the surface. 

You can summarize the difference between the two professions this way:

  • Life coaches – help you be present and thrive in your current life through financial, communication, and business advice.
  • Therapist – The therapist can help you recover from past trauma, understand your relationships, and move on from the loss of someone close.

If you feel plagued by your past or confused about any relationships, a therapist can help you understand your emotions. During your visits, you’ll come to terms with your past experiences and process them to move forward in your current life.

A life coach will help you with your current life, be it with financial or business advice. They’re less trained to deal with emotional issues but can help identify problems keeping you from achieving specific goals in your life.

That being said, all mental health emergencies should be handled by properly trained professionals. If you’re in distress, a therapist or psychiatrist may be able to help you get better control over your mindset.

The National Center for Biotechnology Information also offers some guidance on how to tell the difference between life coaching and psychotherapy practices.

Are life coaches covered by insurance? Usually not, but a therapist may be covered by your health insurance.

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Life Coaching With Life Insurance: The Bottom Line

Life coaches should have no difficulty getting life insurance since their job is not considered to be high-risk. To get the best rate, you should try to control other lifestyle factors and, of course, shop around.

Will insurance cover life coaching? Probably not, but if you’re a life coach seeking life insurance, you can enter your ZIP code into our free quote tool to see what you could pay for a quality policy today.