Life Insurance for the Skydiving Enthusiast

by Jeff Rose on October 25, 2012 · 0 comments

life insurance skydiversFelix Baumgartner broke a world record by free-falling 23 miles and breaking the sound barrier in the process.

If you think he was nervous, you should have talked to his life insurance agent.  🙂

Many skydivers might believe that getting life insurance is impossible or super expensive.

If you are a skydiver, you might be pleasantly surprised to learn that is farther from the truth.

Just because you like to jump out of perfectly good airplanes, does NOT meant that you cannot get live insurance.

Here’s what you need to know.

What if you already have life insurance?

The good news is that if you already have life insurance, you’re good to go.  You’ll be automatically grandfathered into your policy.  Take me for example.  I have no intentions of jumping out of a plane and didn’t 2 years ago when I took out my 30 year term policy.  If I were to jump out of plane next year, and my chute didn’t open, it would be a really bad day, but my wife would be protected.

What do insurance companies look for regarding skydivers?

If you don’t have life insurance in-force and you’re looking to take out a new policy, here are some of the questions they will have regarding your skydiving activities.

  • Number of skydives per year
  • Are you a member of a skydiving club?
  • Are you willing to accept an exclusion? (note: this is NOT recommended!)

It’s best to upfront when the insurance companies asks for specifics in how often you jump per year.

Sample Life Insurance Quotes for Skydivers

CarrierBest Class AvaliableFlat Extra Club MemberFlat Extra Non-ClubFlat Extra InstructorExclusion Available?
AssurityWhatever class they qualify for medically$2.50-$3.50$5.00$3.50No
$5 51-100/yr
$7.50 100-200/yr
$10 200+/yr
$7.50 51-100/yr
Decline >100/yr
John HancockPrfd$2.50 and upLikely declineNo
Lincoln BenefitPrfd$3<50/yr
$5 51-100/yr
$7.50 100-200/yr
$10 200+/yr
$7.50 51-100/yr
Decline >100/yr
$5.00Yes and OK at PNS
(state by state)

A healthy 30 year old can get a $250,000 30 year policy from Lincoln Benefit Life for $340/yr. Now lets say that same individual is in a skydiving club that jumps around 40 times a year. Because of this he automatically gets moved from Preferred Plus ratings to Preferred. His policy at preferred ratings will cost him $415/yr through Lincoln. He will also have to pay a $3 flat extra fee per thousand dollars of insurance coverage. This would add $750 ($3 X 250) to his base rate of $415, making his total annual premium $1,165.

Getting a Quote

The bright side of using us is that we are an independent life insurance agency, so we have the ability to work with all the top carriers that will underwrite skydivers.  If you need a quote contact our office, and we’ll be happy to help.


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