Life insurance before starting skydiving

[MarcoP 0]

If I get life insurance just before I get start skydiving, is that going to be ok? Or will it fail to pay out if something happens a month after I get the insurance? lol

At this time I can truthfully claim I don't have any 'dangerous hobbies', but what if I start one immediately after getting the insurance?

Thanks

[mobbik 0]

im not sure if you should believe any answer you would get on dz.com regarding that issue...

call your broker.

[MarcoP 0]

But then I wouldn't be able to claim that skydiving was a spur of the moment thing. It would seem premeditated. lol

[airtwardo 7]

Get a policy that doesn't exclude high risk activities and or private aviation. . .start small, say 50 grand...they usually don't look real hard at those, it's the million $ policy on a young person that raises flags.

~ If you choke a Smurf, what color does it turn? ~

[obelixtim 141]

If you are dead, why would you care....

My computer beat me at chess, It was no match for me at kickboxing....

[mobbik 0]

if you die your not going to claim anything... ;)

my insurance will pay up if I hit the planet, but only because my first jump was 2 yrs after i got the policy.

[MarcoP 0]

Well, my kids would probably care. You're right, I wouldn't be able to care too much at that point. lol

[adamqbishop 6]

Everything ok in your life? Anything going on we should know about?

Faster, Faster, Faster
Till the Thrill of Speed
Overcomes the Fear of Death

[skyjumpenfool 2]

By posting this here, you've just left a paper (cyber) trail that proves intent to defraud....

Birdshit & Fools Productions

"Son, only two things fall from the sky."

[cbennettjr 0]

Most policies are very specific on the activities you can and can not do. There is usually a cooling off period after the policy is written that excludes payment if you die doing these activities.

I got a policy when my child was born and couldn't do anything "fun" for a year. No: skydiving, scuba diving, competitive motorcycling, piloting a private aircraft, ect.

Ask your agent and be upfront about it. You don't wanna pay all this money and not have the policy give it up if you go in.

BS/BD

[JohnRich 4]

Quote

If I get life insurance just before I get start skydiving, is that going to be ok? Or will it fail to pay out if something happens a month after I get the insurance?

Read all the fine print and find out what the exclusions are.

[JohnMitchell 16]

Quote

Read all the fine print and find out what the exclusions are.

There you go. Best answer yet.
My old govt. insurance paid off no matter what.

My newer, cheaper private insurance pays off but they did ask if I skydived, scuba dove, raced cars, etc. They didn't charge me extra. Must have figured with 1000's of jumps that I was pretty hard to kill.

[AHoyThere 0]

When we found out kids were on the way (twins), then I went out and bought a 20 year term policy that was large enough to provide for my family if I died. The cost of the policy was 4x more expensive because I skydive than it would have been if I didn't skydive.

There are a lot of costs to skydiving. This is just one more part of the cost of skydiving.

Maybe I should have called John's agent.

[Croc 0]

I have an accidental death policy. It excludes acts of war, insurrection, racing motor vehicles, flying a plane (but being a passenger is OK), and any death while committing a felony. No mention of skydiving. Had my agent look it over. These policies are cheap, about $30/mo. for 300K face, and require no medical or background check. Go online and you'll be insured next week.

"Here's a good specimen of my own wisdom. Something is so, except when it isn't so."

Charles Fort, commenting on the many contradictions of astronomy

[Croc 0]

There is an ad for Mutual of Omaha at the top of this page. They sell them, but there are better ones.

"Here's a good specimen of my own wisdom. Something is so, except when it isn't so."

Charles Fort, commenting on the many contradictions of astronomy

[airdvr 201]

Doesn't matter when you make your first jump. All policies have exclusions. If jumping is one of them and you go in your insurance won't pay. They are required to refund your premiums however.

Please don't dent the planet.

Destinations by Roxanne

[weekender 0]

The industry must pay after two years of signing even if you die during an exluded event. This was done by the gov't because they were using deaths from excluded events in their actuary tables to calculate premiums. since they charged for it but wouldnt pay for it, the regulators cried foul. they came to an agreement of two years. This prevents people from buying a policy and then killing themselves basically gifting money to someone.

agents are paid commisions and many will not admit this to you since they get more if you pay up. it IS fraud however, if you KNOW you plan to skydive or commit suicide. no idea how they can prove it, though.

i might be off on the specifics but i know i'm pretty close. i was a licensed agent once, have bought insurance multiple times and my wife's an industry attorney and expert. Dont take my word for it, look it up. im told you this to aid in your research and understand why agents might not be so upfront.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[faulk04 0]

when I got my policy, they could have excluded high risk activities such as skydiving, but if I died doing them they won't pay. I'm 24 so my rates are still low but my rates almost doubled when they included skydiving. It was a % for each 10,000 I had.

[Croc 0]

Did you mean to direct your comments to me or the OP? I used to sell life insurance, so I checked this out carefully. The accidental death policies do not exclude skydiving; my regular policy does.

"Here's a good specimen of my own wisdom. Something is so, except when it isn't so."

Charles Fort, commenting on the many contradictions of astronomy