Forums: Skydiving: General Skydiving Discussions:
life insurance

 


nigel99  (D 1)

Jul 15, 2012, 10:01 PM
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life insurance Can't Post

I've just adjusted my life insurance, and they have a revised disclosure statement. I disclosed skydiving and they asked for number of jumps per year.

I got a follow up call and they wanted to know the equipment used, and the height. I answered with the brand and model of my container (tse teardrop) and altitude not higher than 14k. Anyone see a problem with that detail? Does it mean I might not be covered if I borrowed someone else's rig?

I found it interesting how detailed and knowledgeable the skydiving questions were, compared to previous encounters.


jcd11235  (D License)

Jul 15, 2012, 11:07 PM
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Re: [nigel99] life insurance [In reply to] Can't Post

In reply to:
I answered with the brand and model of my container (tse teardrop) and altitude not higher than 14k.

Out of curiosity, did you specify AGL? That seems like a potential point of confusion, in the unfortunate event of a claim.


nigel99  (D 1)

Jul 16, 2012, 12:16 AM
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Re: [jcd11235] life insurance [In reply to] Can't Post

In reply to:
In reply to:
I answered with the brand and model of my container (tse teardrop) and altitude not higher than 14k.

Out of curiosity, did you specify AGL? That seems like a potential point of confusion, in the unfortunate event of a claim.

No, but fortunately we are at sea level here. For the Australians it is TAL ( Australian super underwriters) they accepted death cover at ordinary rates, but income protection and permanent disability have skydiving excluded. That's not a problem for me, as work provides a scheme.


jimmytavino  (A 3914)

Jul 16, 2012, 4:49 AM
Post #4 of 6 (431 views)
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Re: [nigel99] life insurance [In reply to] Can't Post

same thing here...

i'm in my late 50s and the agent said. "Yes We CAN write a policy which covers you." The telephone "interview" which followed seemed well thought out, asking similar questions. Years in the sport... jumps per year. etc . Though i don't remember anything about Gear...
The premium amount was adjusted upwards, maybe 20 dollars a month....but they DID issue the policy... It supplements the whole life..(from other agents) which we have been carrying for years since THOSE benefit amounts have been beaten down by inflation....

Unimpressed


Deisel  (D 31661)

Jul 16, 2012, 9:04 AM
Post #5 of 6 (351 views)
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Re: [nigel99] life insurance [In reply to] Can't Post

Just got an updated (more coverage) policy last week. The original policy application fully disclosed my skydiving and the insurance company didn't make any mention of it. This time however, they went into detail about jump numbers and frequency. There was some back and forth between my agent and the company but in the end they raised my premium by about $10 a month and issued the policy.


Scrumpot  (D License)

Jul 16, 2012, 10:07 AM
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Re: [Deisel] life insurance [In reply to] Can't Post

This is becoming more & more common lately. An insurance underwriter friend of mine has said that many of the "majors" (she works for State Farm) have even released internal "guidance" on not only just skydiving, but several higher-risk activities / sports, and rather than just outrightly exclude them (which many used to do) - they actually recognize now, that more "active" lifestyles can actually be more (overall) "healthy" than a sedentary one, and again - rather than exclude otherwise healthy ACTIVE persons (which they also recognized they were missing out on as a result) - they've much more appropriately recently decided to "rate" them. As a result too, many have become more educated even, themselves in the particular activities - and will actually recognize that CURRENCY (activity frequency maintenance and not $$) , regularity, rather than even varying activities and infrequency (i.e. being just an adrenaline junkie "tourist") - also RATES BETTER! Smile


(This post was edited by Scrumpot on Jul 16, 2012, 10:08 AM)



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