Life Insurance Quotes

Skydiving and life insurance

Life insurance companies consider skydiving a hazardous activity.  If you're reading this, it must be because you have one of two questions:

  1. Can skydivers get life insurance?  Yes (depending).
  2. If I already have a policy in force as a non-skydiver, will it cover me if I die in a skydiving accident?  Yes (depending).

Life insurance for skydivers

Yes, skydivers can get life insurance and be covered in the event of death from skydiving.  Standard procedure for selling coverage to a skydiver is to charge a flat extra (the life insurance company will add a certain amount to your premium, based on the size of your death benefit and the risk of your activity).

At some life insurance companies, you may be further penalized by being automatically excluded from the best rate class because of your hazardous avocation.

To find competitive rates, it's important to shop with an independent agent/agency experienced with high-risk life insurance.  Be sure to actually speak with an agent; an online form will be of paltry help.

How much is the flat extra for skydiver life insurance?

The amount you pay to be covered as a skydiver depends on how many jumps you make per year (and may vary from insurer to insurer).  Price breaks tend to come at intervals of fifty.  If you make 1–50 jumps per year, expect a flat extra of $2.50–$3.00 per year per thousand dollars of death benefit from most major life insurance companies.  For 51–100 jumps per year, expect $5.00.  For 100+ jumps per year, expect $7.50.

E.g. A flat extra of $2.50 on a $250,000 policy equates to an additional $625 per year.

Exclusions instead of flat extras

If you're a skydiver and want life insurance but don't want to pay the higher rates for coverage, you have the option to buy life insurance which only covers you for deaths that don't result from skydiving.  This will give you the same rates that you would face if you never skydived.

To accomplish this, attach an exclusion to your policy.

Although the risk of dying while jumping from a plane is low indeed, a good life insurance agent is not likely to recommend utterly excluding skydiving from your coverage.  As an alternative, you might take the middle ground, purchasing two small policies and attaching an exclusion to only one of them.  Your beneficiaries will get both death benefits if you die under normal circumstances, but only a single death benefit if you die while skydiving.

Skydiving insurance for non-skydivers

If you already have coverage in force as a non-skydiver, then you are covered even while skydiving.  You can make 50 jumps per day, and it won't affect your existing coverage or the cost thereof.  However, an exception to this rule is if you had plans to go skydiving before you completed the life insurance application process.  (By "plans" we don't mean that it's merely an item on your bucket list but rather that you have determined to go skydiving in the foreseeable future.)

If you have plans to take a jump, then you had better inform your agent of the fact, or you may be culpable (even inadvertently) of material misrepresentation.  If the insurance company discovers the misrepresentation, then it is not obligated to pay a benefit for any death transpiring during the first two years of coverage.  Furthermore, it may revoke your policy.

There's no harm in reviewing your policy to ensure that it doesn't exclude deaths from skydiving, but it is very rare these days for a life insurance policy to come with exclusions that the policyholder did not specifically request.  (Exceptions are suicide and misrepresentation.)

Talk to an Advisor

A licensed insurance advisor can explain your options and help you choose the right life insurance for your needs.

Call: 1-800-823-4852

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