Life Insurance companies price their coverage based on their predictions of the risk that they will actually have to make a payment on a death claim.
The reason that term insurance is so inexpensive, is that carriers almost never have to pay a claim. Actuarialy, young people (in the aggregate) are almost as immortal as they seem to think that they are.
So life insurance carriers tend to look closely at hobbies or activities that might move a potential insured from statistically safe to statistically scary.
Amongst the first questions we ask when we are talking to a customer about how to structure their life insurance coverage, is whether or not they have any hobbies which would scare an insurance company.
If your hobby is swooping (look it up, its the kind of thing that gets hard core sky divers dead) then we probably can’t get you covered. If you are a rodeo rider, then it matters whether you ride horses or bulls.
But if your hobby is skin diving or scuba diving, there are lots of life insurance companies who are glad to write a policy for you. They will want to know how and where you dive, whether you are certified, and who you tend to dive with to get a handle on the risks you take. So if you are well trained, and dive a bit amongst the pretty reefs on vacation, then life insurance for you as a scuba diver is no problem.
But if you are the guy who dives into limestone springs, and then swims miles underground through ancient river carved tunnels and come up in another spring in the next county, then most carriers just think that you are crazy.
So if you want to get a life insurance quote for a skin diver or scuba diver, here are the questions a Life Insurance company is likely to ask you to understand you as a diver:
Life Insurance for a Scuba or Skin Diver: Carrier Questions
How deep do you tend to dive?
0-75 feet, 76 to 125 feet, 126 feet to 150 feet or Over 150 Feet
How many times in the past year have you been diving, or in the next year how many days do you hope to spend underwater?
1. Are you a certified diver? ___Yes ___No
a. (If ‘yes, answer the following)
Hours of instruction ______________________________________________________
Date of certification ______________________________________________________
Organization certifying ____________________________________________________
b. (If no) Why not? __________________________________________________________
2. Are you a member of an organized club? ___Yes ___No
(If yes) Give details: ____________________________________________________
3. What types of equipment do you use?
____ Scuba Number of tank(s)
_____ Open or closed circuit
4. What are the locations of diving activities?
____ Lakes and rivers
____ Ocean beaches
____ Other (Give details in DETAILS section)
5. Do you dive for salvage or exploration?
(If yes, give details) _________________________________________________________________ _____________________________
Its a pretty straight forward set of questions to give the life insurance company a sense of what kind of scuba or skin diver you are. In our experience, we have had no trouble getting safe divers covered from equally safe life insurance companies. We would be happy to give you a quote on the costs of life insurance for a scuba or skin diver, just give us a call at (800)958-0028.