Term Life Insurance Articles
How Skydiving Affects Your Term Life Insurance Quote
2010-08-12
A term life insurance quote is often very specialized for the applicant, and the questionnaire leading up to the quote might ask some very peculiar questions. Term life insurance companies want to know about any part of a potential policy holder's lifestyle that might affect the possibility of a claim. As such, policy holders who work dangerous jobs or live a dangerous lifestyle will often pay much more for term life insurance. Skydiving is considered a particularly dangerous activity, regardless of the precautions that go into a skydiving jump. Because of the relative high risk of skydiving, term life insurance policy holders may feel compelled to avoid the activity.
For some, that's easier said than done. Skydiving is a well established pastime, and for some people, it's a regular part of life. For these people, there are special types of term life insurance which support regular skydiving. The premiums for a term life insurance skydiving policy will be higher than they would be for a similar policy without this type of coverage. Depending on the frequency of a policy holder's skydiving habit, however, the total effect on a term life insurance quote may be very limited.
In many policies, skydiving is simply listed as an exclusion. This means that if the policy holder dies while skydiving, the insurance company will not be compelled to pay out on the death claim. Exclusions are built into contracts as a way of guarding term life insurance companies from circumstances that they would have no way of knowing about (and circumstances which increase the risk of death significantly). If you're interested in skydiving, either as a one time experience or a life long hobby, you should immediately check your term life insurance policy's exclusions section for any mention of skydiving. If you find it listed, contact your life insurance agent. You may be able to discuss different types of coverage with him, and although your rate may change, it's always better to stay covered, particularly when engaging in a potentially dangerous activity such as skydiving.
Other activities can have an even greater effect on a person's term life insurance quote, particularly habits like smoking or dangerous occupations. Anyone interested in skydiving should know how their term life insurance quote will be affected, of course, as this is key when deciding what types of coverage and how much coverage to buy. Be sure to carefully read every quote that you receive, and always check the exclusions section of a quote to make sure that you're fully covered. Your policy will be much more dependable as a result.
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A term life insurance quote is often very specialized for the applicant, and the questionnaire leading up to the quote might ask some very peculiar questions. Term life insurance companies want to know about any part of a potential policy holder's lifestyle that might affect the possibility of a claim. As such, policy holders who work dangerous jobs or live a dangerous lifestyle will often pay much more for term life insurance. Skydiving is considered a particularly dangerous activity, regardless of the precautions that go into a skydiving jump. Because of the relative high risk of skydiving, term life insurance policy holders may feel compelled to avoid the activity.
For some, that's easier said than done. Skydiving is a well established pastime, and for some people, it's a regular part of life. For these people, there are special types of term life insurance which support regular skydiving. The premiums for a term life insurance skydiving policy will be higher than they would be for a similar policy without this type of coverage. Depending on the frequency of a policy holder's skydiving habit, however, the total effect on a term life insurance quote may be very limited.
In many policies, skydiving is simply listed as an exclusion. This means that if the policy holder dies while skydiving, the insurance company will not be compelled to pay out on the death claim. Exclusions are built into contracts as a way of guarding term life insurance companies from circumstances that they would have no way of knowing about (and circumstances which increase the risk of death significantly). If you're interested in skydiving, either as a one time experience or a life long hobby, you should immediately check your term life insurance policy's exclusions section for any mention of skydiving. If you find it listed, contact your life insurance agent. You may be able to discuss different types of coverage with him, and although your rate may change, it's always better to stay covered, particularly when engaging in a potentially dangerous activity such as skydiving.
Other activities can have an even greater effect on a person's term life insurance quote, particularly habits like smoking or dangerous occupations. Anyone interested in skydiving should know how their term life insurance quote will be affected, of course, as this is key when deciding what types of coverage and how much coverage to buy. Be sure to carefully read every quote that you receive, and always check the exclusions section of a quote to make sure that you're fully covered. Your policy will be much more dependable as a result.
