Sara Routhier, Managing Editor of Features and Outreach, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming worl...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Mar 31, 2021

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The Brief

  • 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, skydivers often see much higher life insurance rates 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.

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 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 raise in your premium.

And of course, always compare quotes to find the best deal possible. Enter your ZIP code into our free comparison tool below to find affordable life insurance for skydivers in your area today.

References:

  1. https://uspa.org/Discover/FAQs/Safety