Are you a thrill seeker with a love of activities that get your adrenaline pumping? You’ve probably had some trouble finding life insurance. For many people, participating in high-risk sports is just a part of everyday life, but for insurance companies it’s a reason to reject your application or at least increase the premiums you pay. So why do life insurance underwriters even care what activities you like to do in your spare time? It’s simply a matter of risk.
Understanding Risk Levels
When you apply for a life insurance policy you’ll be required to complete an application form detailing your current health status and your family health history, you’ll also be asked about any activities you participate in that may be considered dangerous. In simple terms the risks you take are included in calculating how likely it is that you will pass away during the life of the policy. Do you participate in any of these activities that may make a life insurance company charge you higher premiums or deny you coverage?
- Scuba Diving
- Hot Air Ballooning
- Big Wave Surfing
- Racing Cars, Motorbikes or Boats
- Flying Private Aircrafts
- Bungee Jumping
- Rock Climbing/Mountaineering
- Hang Gliding
This is just a small list of the activities that life insurance companies may consider dangerous. If you regularly participate in an activity that has a high level of risk the insurance company will most likely want to know more about your hobby.
So What Are The Alternatives?
If you need life insurance there are a couple of steps you should take to make finding a plan easier:
1. Consider Alternative Sports
We get it, giving up your thrill seeking lifestyle altogether might be impossible, so why not consider some of these alternative options to help you get the adrenaline rush you crave. The following are activities that life insurance companies consider to be a lower risk; again this is not an extensive list but should give you ideas on options:
- Skiing or Snowboarding: groomed trail snow sports are usually not a problem
- Surfing: as long as you avoid those big waves
- Trekking: hike the Appalachian Trail or Pacific Crest Trail
- Wakeboarding or Waterskiing: Great for speed and water enthusiasts
- Snorkeling: explore the ocean without the risk
- Mountain Biking: get an adrenaline rush on two wheels
2. Compare Quotes From Multiple Insurers
Not all insurers place the same risk level on activities, to ensure that you’re getting the best possible rate for your lifestyle you should compare quotes from multiple life insurers.
IntelliQuote is an online insurance marketplace. We offer a free quoting service to help you find the right plan to protect your loved ones. Our experienced licensed agents will work with you to find the best fit for your lifestyle. Compare quotes from the top rated insurers from the comfort of your own home, today!