Life on the Edge? How Your Hobbies Can Affect Your Life Insurance Rates
We all know that speeding tickets can impact car insurance rates, but did you know your hobbies can affect your life insurance too? That unexpected weekend trip to try skydiving might not just leave you breathless, it could raise your premiums.
So, before you take the plunge (literally or figuratively), let’s explore some activities that might trigger a red flag with life insurance providers:
- Diving Deep: The Allure and the Risk of Scuba Diving:
Scuba diving lets you explore the underwater world, but it also comes with inherent risks like decompression sickness and drowning. While training helps, life insurance companies still consider it risky behavior.
- Skydiving: Defying Gravity, Not Logic:
The statistics might say skydiving is safer than driving, but insurance companies often have a different perspective. Even with low fatality rates, the act of jumping out of a plane is inherently risky, leading to potentially higher premiums.
- Hitting the Slopes: Winter Sports and the Thrill Factor:
While carving down snowy mountains can be exhilarating, activities like snowboarding and skiing are considered seasonal risks by some insurance companies, potentially impacting your rates.
- Need for Speed: Motorsports and the Price of Racing:
Whether it’s cars, motorcycles, or even boats, racing any vehicle increases your chance of injury or death. This translates to potentially higher life insurance costs.
- Taking Flight (Safely?): The Unexpected Risks of Hot Air Ballooning:
While statistically less risky than skydiving, hot air ballooning still comes with inherent risks. The lower number of participants, however, might make it less of a concern for some insurance companies compared to more popular activities.
- Hang Gliding: Soaring High, Potentially Impacting Premiums:
Soaring through the air on a hang glider might seem peaceful, but disclosing this on your life insurance application could still potentially raise your premiums.
- White Water Rafting: Adventure with a Side of Risk Disclosure:
Navigating rushing rivers is a thrilling experience, but it can also be dangerous. If you’re a regular white water rafter or kayaker, be prepared to disclose it on your application.
The Bottom Line:
Honesty is key when applying for life insurance. Not disclosing your hobbies, even the seemingly harmless ones, could lead to denied benefits in the event of your death.
Don’t let your love for adventure limit your access to affordable life insurance. We, as independent insurance agents, can help you find companies that offer competitive rates even if you participate in high-risk activities. Contact us today and let’s discuss your hobbies and find the perfect life insurance plan for your needs.
