Affordable Life Insurance for Skydivers
Life insurance for skydivers is usually more expensive than average. While you may not be able to find cheaper rates, some people struggle to find coverage altogether. Consider purchasing life insurance before you skydive to lock in affordable rates. Also, consider adding an accidental death benefit rider to your plan for a higher payout.
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UPDATED: Apr 28, 2021
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- Skydivers are usually charged higher rates than average
- Skydiving deaths are actually extremely rare
- Consider adding an accidental death benefit rider to your plan for a higher payout in the event of an accident
Skydiving is an exhilarating activity. However, the same dangers that make skydiving such a thrill can also raise your life insurance premiums. If you’re looking for affordable life insurance for skydivers, you may have your work cut out for you.
There are many different factors that determine your life insurance rate such as age, medical history, and occupation. These factors, along with any dangerous hobbies you may partake in, determine your life insurance risk class, which in turn determines your rate.
Skydiving is definitely considered a high-risk activity, and as a result, life insurance rates for skydivers are often much higher than average.
But if you stick with us, we’ll tell you why life insurance for skydivers is so expensive and show you how you can find secure coverage.
But before you continue reading, enter your ZIP code into our free comparison tool above to find affordable life insurance for skydivers in your area today.
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Why is life insurance for skydivers so expensive?
Are you a skydiver? Are you wondering why life insurance for skydivers can be so darn expensive?
Well, the reason for this is that skydiving is considered a high-risk activity. An otherwise healthy person in their 20s or 30s with no life-threatening medical conditions might accidentally die while skydiving.
Because of this, life insurers will put you into a higher risk class during the life insurance underwriting process. This means skydivers will likely pay much higher premiums than what is average for their age, health status, and occupation.
Life insurers do this even though skydiving deaths are extremely rare. In fact, according to the United States Parachute Association, in 2019 only 15 fatal accidents were recorded out of roughly 3.3 million jumps.
But even though you’re most likely going to be safe when you skydive, you still may have a hard time finding coverage. We’ll show you how you can find secure coverage in the next section.
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How do I find life insurance coverage for skydivers?
If you’re looking for ways to save on life insurance for skydivers, you may be out of luck.
The truth is skydivers almost always pay higher premiums than average. In fact, some people may struggle to find coverage altogether.
A standard life insurance policy likely won’t cover you as a skydiver. Many life insurance applications specifically ask if you engage in activities such as rock climbing or skydiving, and they may deny you coverage if you do.
And don’t even think about lying on your application. If you do end up passing away after a skydive, your insurance company may refuse to pay out your claim to your beneficiaries, leaving your family in a bad financial situation.
So do your research. Some smaller life insurance companies may offer life insurance specifically for skydivers. You can also look into adding an accidental death benefit rider to your plan. In this way, you may receive a higher death benefit if you die in a skydiving accident.
But the best way to find affordable life insurance quotes for skydivers is to purchase a plan before you skydive. This way you’ll have a plan secured and in place if you decide to skydive later in life, without a huge rise in your premium.
Ready to buy life insurance for skydivers? Enter your ZIP code into our free comparison tool below to find affordable life insurance for skydivers in your area today.