Quote...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.
I picked up a AD&D policy for $200K for $25 a month. No exclusions for jumping anywhere in the policy, though it did have one for dieing while being high on drugs/drunk or while being in act of committing felony.
Well, actually it does...if policies didn't do this, then I doubt a lot of people would have them. I've confirmed everything, and if you read my first post you'll see that I haven't started jumping and disclosed everything to the insurance company accurately. Just like someone here said, they told me flat-out that if I were jumping now they would increase my rate based on how many times I jump each year. However if I didn't plan on jumping for a year from the time I began the policy, then I would be covered because they rate you based on the time you sign-up for the policy...not years down the road for "unforeseen circumstances". Like I said, I pretty much luck out because I have to wait a year anyway before jumping so my rates are way low because of my age. Hope that helps explain the reasoning behind the facts...
BerryBoy 0
QuoteDon't you see what that means? One of us might be a complete idiot, I don't think its me. So you have an accidental life insurance policy? Well my freind, you are NOT covered. Skydiving is not considered an "accident". If you jump, you did it. Car accident, blown off a roof, cleaning a swamp cooler screen? I think your covered. Where are you planning on jumping next year?...
Of course it's not you...why would anyone admit that they are an idiot! Anyways, I've done my homework and every policy is different so there is no way that anyone of us here can really know for sure about a policy they don't have in front of them. So, we can agree to disagree...at least that's what I'm doing!
Oh, and I'm doing my AFF at Skydive Alabama as soon as spring hits next year....totally psyched!
Last edit, promise. I found this by searching in the forums...don't know that it's true, but I have heard of this before....the years vary by state:
QuoteI used to be an agent for one of the biggies and our Agent's Manual said we would cover skydivers IF they were USPA members in good standing. Skydivers are usually rated though, which generally means higher premiums than a smoker.
An important issue is called INCONTESTABILITY. The law says that when you buy life insurance, the insurance co. has three years (usually) to investigate you and find out if you lied to them about anything. Once the three years are up, they had their chance and they're stuck with you - so long as you keep up with your premiums. So if you have any life insurance from your pre-jumping days, hang on to it ! In my own case, with a wife & kids, I took out a rather sizable policy about 10 years ago, when I wasn't jumping. I TRUTHFULLY said no when they asked if I'd done anything hazardous (skydiving, etc) in the past three years and I ended up with a really good rate. My policy's been incontable for the last seven years. Now this year I started jumping again and so long as I keep up with my premiums - they're STUCK with me. They can't even rate me! Bwuhahaha !!
Don't be shy about life insurance, especially if you have a family. When I read about the young families of dead skydivers having to hold out their hats for charitable donations from our community, it makes me feel sick. If you can afford a rig, if you can afford to jump, you can afford to provide for your family, because shit can happen.
Quote taken from: http://www.dropzone.com/forum/Skydiving_C1/General_Skydiving_Discussions_F18/Life_insurance_for_skydivers_P509674
airdvr 197
QuoteQuoteDon't you see what that means? One of us might be a complete idiot, I don't think its me. So you have an accidental life insurance policy? Well my freind, you are NOT covered. Skydiving is not considered an "accident". If you jump, you did it. Car accident, blown off a roof, cleaning a swamp cooler screen? I think your covered. Where are you planning on jumping next year?...
Of course it's not you...why would anyone admit that they are an idiot! Anyways, I've done my homework and every policy is different so there is no way that anyone of us here can really know for sure about a policy they don't have in front of them. So, we can agree to disagree...at least that's what I'm doing!
Oh, and I'm doing my AFF at Skydive Alabama as soon as spring hits next year....totally psyched!
Last edit, promise. I found this by searching in the forums...don't know that it's true, but I have heard of this before....the years vary by state:QuoteI used to be an agent for one of the biggies and our Agent's Manual said we would cover skydivers IF they were USPA members in good standing. Skydivers are usually rated though, which generally means higher premiums than a smoker.
An important issue is called INCONTESTABILITY. The law says that when you buy life insurance, the insurance co. has three years (usually) to investigate you and find out if you lied to them about anything. Once the three years are up, they had their chance and they're stuck with you - so long as you keep up with your premiums. So if you have any life insurance from your pre-jumping days, hang on to it ! In my own case, with a wife & kids, I took out a rather sizable policy about 10 years ago, when I wasn't jumping. I TRUTHFULLY said no when they asked if I'd done anything hazardous (skydiving, etc) in the past three years and I ended up with a really good rate. My policy's been incontable for the last seven years. Now this year I started jumping again and so long as I keep up with my premiums - they're STUCK with me. They can't even rate me! Bwuhahaha !!
Don't be shy about life insurance, especially if you have a family. When I read about the young families of dead skydivers having to hold out their hats for charitable donations from our community, it makes me feel sick. If you can afford a rig, if you can afford to jump, you can afford to provide for your family, because shit can happen.
Quote taken from: http://www.dropzone.com/forum/Skydiving_C1/General_Skydiving_Discussions_F18/Life_insurance_for_skydivers_P509674
I'm not talking about contestability, I'm talking exclusions...and there's no time limit on that.
I sincerely hope you'll be covered...I just know from experience in the industry that you probably aren't unless you've been "rated" for it. If you're jumping and you want life insurance that covers you there's no way in hell you're gonna think it's a bargain.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
Tink1717 2
With what company? I'm interested.
Skydivers don't knock on Death's door. They ring the bell and runaway... It really pisses him off.
-The World Famous Tink. (I never heard of you either!!)
AA #2069 ASA#33 POPS#8808 Swooo 1717
-The World Famous Tink. (I never heard of you either!!)
AA #2069 ASA#33 POPS#8808 Swooo 1717
dmetz 0
Farmer's; $5.00 per thousand of coverage per year, on top of premium for base coverage. That $5.00 is a flat rate that applies to all policies rated for skydiving that Farmer's writes, from what I understand.
I was in the process of getting a policy through a discount broker online, when I talked to a Farmer's agent. As someone said earlier, great face time and customer service, made the whole process much more comfortable than the discount online broker with the better price.
I was in the process of getting a policy through a discount broker online, when I talked to a Farmer's agent. As someone said earlier, great face time and customer service, made the whole process much more comfortable than the discount online broker with the better price.
_________________________________________
"If a vegetarian eats vegetables, what does a humanitarian eat?"
"If a vegetarian eats vegetables, what does a humanitarian eat?"
airdvr 197
That makes perfect sense. On top of the normal monthly premium you add $5 per year per thousand. That's a rated policy. On a $100K case it's an additional $41.66 per month.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
airdvr 197
Will I always receive the price quoted from the carrier I apply to?
NO! Each company has certain underwriting guidelines that you must meet to qualify. They are similar with most companies, but certain carriers are more flexible than others. Areas they review include: medical history, height, weight, cholesterol, driving record, family history of heart disease/cancer, hazardous sports etc. We make every effort to provide you the most accurate and realistic proposal based on your personal circumstance whether via the internet or through a call to our service center. If you do not receive the rate quoted, the company will generally offer an alternative. You may accept it or decline it. There is no cost to you should you decide to decline.
www.zanderins.com
NO! Each company has certain underwriting guidelines that you must meet to qualify. They are similar with most companies, but certain carriers are more flexible than others. Areas they review include: medical history, height, weight, cholesterol, driving record, family history of heart disease/cancer, hazardous sports etc. We make every effort to provide you the most accurate and realistic proposal based on your personal circumstance whether via the internet or through a call to our service center. If you do not receive the rate quoted, the company will generally offer an alternative. You may accept it or decline it. There is no cost to you should you decide to decline.
www.zanderins.com
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
dmetz 0
Would a policy written for a skydiver likely be written as "standard" even if you would otherwise fall into the "preferred or premium" category? I'm talking about the policy in general here, not the rating.
_________________________________________
"If a vegetarian eats vegetables, what does a humanitarian eat?"
"If a vegetarian eats vegetables, what does a humanitarian eat?"
airdvr 197
QuoteWould a policy written for a skydiver likely be written as "standard" even if you would otherwise fall into the "preferred or premium" category? I'm talking about the policy in general here, not the rating.
Really depends on the carrier's requirements. My first thought was "no" only because the category takes things like hazardous sports into consideration. It's like saying I could be preffered or premium....if only I didn't smoke, weigh 300 lbs, and have a 270 colesteral.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
tfelber 0
Two of my policies are with Farmer's; $100K term and $100K whole life $69/month. I've had the policies about 11 years. I took them out thinking I was going to get back into racing but started skydiving instead. Reviewed the policies with the agent and both cover me getting killed in any way shape or form including skydiving or suicide. I discussed this with other agencies and was told most policies from major carriers cover suicide and most other deaths after two years continous coverage.
I have a couple of other policies however that I need to review in light of this discussion. The reason I have these other policies is when I asked my Farmer's agent to increase my policies he said he would not be able to increase it without excluding skydiving.
I have a couple of other policies however that I need to review in light of this discussion. The reason I have these other policies is when I asked my Farmer's agent to increase my policies he said he would not be able to increase it without excluding skydiving.
Whole life is a rip off!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I would canceal it and never do buis. with the crook that sold it to you.
Also if you canceal it you should get part of your payments back.
I would canceal it and never do buis. with the crook that sold it to you.
Also if you canceal it you should get part of your payments back.
Nothing opens like a Deere!
You ignorant fool! Checks are for workers!
You ignorant fool! Checks are for workers!
airdvr 197
Your profile says you've been at it for 9 years, and the policies are around 11 years old. And you're absolutley sure the existing policy covers jumping? Did you read the exclusions? It doesn't always say "parachuting " or "skydiving". Sometimes it has verbage about being in an aircraft that is not a commercial flight.
Possibly your carrier changed the exisiting policy guidelines after you started jumping, and for him to increase the policy limits would mean he'd have to disclose the jumping, which he doesn't want to do.
Remember, many agents out there have only one goal in mind...get your money. They may seem like they have your best interests at heart but at the end of the week they can't go to the grocery store and say "I didn't sell Joe a policy because it wasn't right for him" and have the nice lady give him any food for that.
Possibly your carrier changed the exisiting policy guidelines after you started jumping, and for him to increase the policy limits would mean he'd have to disclose the jumping, which he doesn't want to do.
Remember, many agents out there have only one goal in mind...get your money. They may seem like they have your best interests at heart but at the end of the week they can't go to the grocery store and say "I didn't sell Joe a policy because it wasn't right for him" and have the nice lady give him any food for that.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
airdvr 197
QuoteWhole life is a rip off!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I would canceal it and never do buis. with the crook that sold it to you.
Also if you canceal it you should get part of your payments back.
Wrong, wrong, wrong! I guarantee you won't be thinking that when it matures and is paid up in full. Then you have a life policy that requires no payments, has cash value, and earns interest. Your coverage will continue to increase in value with no money out-of-pocket. It's an excellent long term strategy.
For example, try buying term insurance when you're 60. Makes that whole life premium look like a bargain.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
874 a month for health and life insurance.
"If you don't like your job, you don't strike! You just go in every day, and do it really half assed. That's the American way."
- Homer Simpson
- Homer Simpson
Remember, many agents out there have only one goal in mind...get your money.
//////////////////////////////////////////////////
You said it best and if you beleive whole life is good then you where the type of agents above (most are), or missinformed, or ignorant. You pick but it is a fack that you where on of the above if you beleive that whole life is a good deal!!!!!!!!
//////////////////////////////////////////////////
You said it best and if you beleive whole life is good then you where the type of agents above (most are), or missinformed, or ignorant. You pick but it is a fack that you where on of the above if you beleive that whole life is a good deal!!!!!!!!
Nothing opens like a Deere!
You ignorant fool! Checks are for workers!
You ignorant fool! Checks are for workers!
I'll tell you MR. Ex insurance agent, why dont you goto the link you presented here and ask Zander insurance what they think about whole life... Look on there web site I beleive they only offer term life insurance for a reason..... Correct me if im wrong, go ahead give them a call. If you dont now why whole life sucks so back then ask and i can school you.
Nothing opens like a Deere!
You ignorant fool! Checks are for workers!
You ignorant fool! Checks are for workers!
airdvr 197
QuoteI'll tell you MR. Ex insurance agent, why dont you goto the link you presented here and ask Zander insurance what they think about whole life... Look on there web site I beleive they only offer term life insurance for a reason..... Correct me if im wrong, go ahead give them a call. If you dont now why whole life sucks so back then ask and i can school you.
I'm sorry you don't agree but you're welcome to your opinion. When you're licensed in Life, Health, and Annuities in your state as I am, then you can come back and school me.
Please don't dent the planet.
Destinations by Roxanne
Destinations by Roxanne
I am not licensed in any of the above but i do now the facts
. The average insurance agent is just as you described ( in it for the money ).
Whole life is one of the WORST financial products on the market today. There is never a time when it is financially wise to have a whole life policy.
The only time you should have whole life is if you already have one and can’t get any other form of life insurance. Only if you’re stuck with it should you have whole life.
For example, a 30-year-old person can buy a $125,000 whole life policy for $100 a month. That same person can buy a 20-year term policy for $7 a month and invest the remaining $93 dollars in a mutual fund that pays a LOT higher interest rate than some whole life policy. Lets see 3-4 % max compared to 14-15 % average stock maket gain for 50 + years Which one do you want?????? There has not been a 10 year period of the stock market that has not gained. Since its inseption.
You ready for school yet???????
Nothing opens like a Deere!
You ignorant fool! Checks are for workers!
You ignorant fool! Checks are for workers!
I got the policy specifically for jumping. I bought it from a guy I jump with who worked for the insurance company at the time.
"Kicking gravity's ass since 2003!"