Extreme sports can kill you. Literally. Extreme sports enthusiasts know that the price that they could very well pay for their thrills is their life. That’s where life insurance comes in. Finding the best life insurance policy is essential for the adrenaline junkies among us. Keep reading to learn how to choose the best life insurance policy for extreme sports lovers.
Only the Best Life Insurance Policy
Life insurance isn’t some boring bill to pay. It’s quite important, especially for extreme sport athletes, for whom the risk of death is higher.
The life insurance you choose depends on the sport you play. Unfortunately, not all sports are covered. Some sports are just too dangerous.
Motorsports, water sports, and high-altitude activities are usually excluded from life insurance coverage.
Excluded motorsports include both on- and off-road, recreational and racing motorsports. High-altitude activities include rock climbing, skydiving, bungee jumping, and paragliding. Excluded water sports are river kayaking, white water rafting, and scuba diving.
That’s the bad news. The good news is that many other sports are, in fact, covered. Those include cycling, martial arts, and combat sports.
Mixed martial arts aren’t included, but professionally-guided martial arts and fencing are.
Finding Life Insurance
Now that you know which sports are covered, let’s see how you actually get coverage.
Start by finding an independent life insurance agent. They’ll be able to give you multiple life insurance options to choose from.
Once you have some options to compare, get some quotes from different insurance carriers. You’ll want the best deal.
As you dig deeper into the specifics of insurance policies, keep an eye out for specialized insurance. A specialized policy might, for example, cover skydiving.
There’s also group life insurance. Your employer might offer it, providing a base level of coverage of around $100,000. In these cases, group life insurance is only a supplementary policy, at best.
Any policy you find should have an accidental death benefit rider. That way, your loved ones will be paid in the event of your death. Accidental death and dismemberment (AD&D) insurance also provides a payout in the event of serious injury in an accident or death.
What to Expect
When you’re ready to take the plunge and apply for life insurance for the extreme sport of your choice, here’s what to expect. You’re going to face general questions about your sport, followed by detailed questions if the sport is high-risk. General questions will be about whether or not the sport involves heights, full-body contact, or motor racing. In-depth questions will be about the frequency and location of your participation in the sport; your amount of training and experience; and any licensing or certifications.
Those are some things to know about how to choose life insurance for extreme sports.
Your Life Is Priceless
No matter how hard it may be to put a price tag on your life, you’ll have to when choosing a life insurance policy. As an extreme sport athlete, finding the best life insurance policy involves a little bit of patience and careful consideration. You’ll find it. After all, you’re an extreme athlete. To find whatever other sports-related content you’re looking for, check out the rest of the site.
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