Many people think life insurance and extreme sports don’t mix. While your beloved yet dangerous hobby might affect your policy options, it doesn’t completely eliminate your candidacy. You might still qualify for generous coverage from the right provider.
Medical Profiles Inc. explores how extreme sports can impact your coverage options below. Learn how to navigate the marketplace for a reasonable policy.
What Counts as an Extreme Sport?
An extreme sport or hobby is a pastime that could endanger the participant. Terms and definitions may vary, depending on the insurance company. What qualifies as an extreme pastime for one provider may not make the list of another.
However, some extreme sports and hobbies that frequently make lists of hazardous activities include:
- Skydiving: Leaping from planes to become airborne in a freefall can lead to tragic deaths if the equipment fails.
- Surfing: If you’re a casual surfer, you likely have nothing to worry about. On the other hand, riding big waves increases your chances of drowning at sea.
- Mixed Martial Arts: MMA and other competitive sports that draw blood can lead to concussions and other life-threatening injuries.
- Off-road biking: Few activities will make you feel as free as cycling through mountains, canyons, and other natural landmarks. But hitting a rocky spot and falling from your bike can hurt or kill you.
- Vehicle racing: Racing motorbikes or cars might give you that adrenaline rush you crave. However, the ensuing wrecks come with high costs.
Does Life Insurance Cover Deaths From Extreme Sports?
Not always. When shopping for policies, carefully examine how potential providers offer coverage. Many policies contain coverage exclusions. An exclusion is a restriction on how and when you can access the benefit.
For example, a life insurance company might readily provide coverage. However, the policy contains a catch. The exclusion might state that your benefits are void if you die because of your extreme hobby.
What exactly does this mean? If the excluded scenario caused your death, your beneficiaries cannot claim the life insurance benefits or can only access a portion of the benefit.
Can You Still Get Life Insurance If You Participate in Extreme Sports?
Life insurance, unfortunately, may not always cover death from your hobbies. In addition, extreme hobbies will jack up your premium rates. That doesn’t mean you can’t secure coverage from a solid provider. Understanding the underwriting process will help you combine extreme sports with adequate life insurance coverage.
Understanding the Risks
When insurance agents write policies, they assess the risks associated with the policyholders’ lifestyles. Therefore, your risk assessment will include your potentially dangerous hobbies. After all, they can increase your mortality.
Some insurance companies may refuse your policy because they have limitations on what and who they can cover. However, you can shop for providers that specialize in high-risk coverage.
Potential Advantages
Like many extreme sports folks, you likely stay in shape to keep up with your extreme hobby’s demands. Therefore, you have at least one thing going for you: your health. While insurance companies rigorously examine applicant risks, they also prize healthy candidates.
You can use this to your advantage with a paramedical exam confirming your health. These exams will help you access better coverage at lower premiums.
Paramedical Exams From Medical Profiles Inc. Help You Find the Perfect Coverage
You can combine life insurance coverage with extreme sports proper planning. Find the perfect coverage with a paramedical exam from Medical Profiles Inc. We bring the exam to your location, complete with all needed equipment, personnel, and paperwork. Call 832-251-3926 to book an appointment.
