...Life Insurance...

...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.

I'm covered through my policy from my job. It does not exclude jumping or motorcycles, which is good for me. It all depends on the company and it doesn't matter unless its in writing.

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...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.

www.zanderins.com They have the best term rates in the country with excellent service.

**Hot tip** Jump before the plane crashes if you want the ins. to pay off

Chris Welker

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I'm covered through my policy from my job. It does not exclude jumping or motorcycles, which is good for me.

Ditto!

I have recently looked at life insurances and the best I have found was this one:

http://www.diversalertnetwork.org/insurance/life/coverage.asp

You have to be a member of DAN but the membership fees are inexpensive and the insurance seems to cover extreme sports.

Edited to add: The membership fee is $25/year.

Check with your local Farmer's Bureau for your state. If you want a hefty policy, they are usually the cheapest around and you get fantastic face-to-face time with your insurance agent that you usually can't get elsewhere....they shoot it straight for the most part.

I'm young, 24, and with no pre-existing medical conditions I was able to get a great rate. I pay less than $30 a month for what you quoted, but just as an individual policy since I'm not married (yet). They only asked me if I actively participate in skydiving or plan to in the next 12 months, which I don't....but in 13 months I do . It couldn't have worked more perfectly in my situation. I'm still in post-grad school and can't skydive until next year, so I'm locking in all of my insurance and disability plans NOW before the I get gouged by the plan rates because I'm considered "high risk".

Makes me wonder who's insuring Jeb Corbin's Wingsuit landing...

I have two policies one for $100,000 at a cost of $25 a month and another for $50,000 at a cost of $15 a month. Here is a link to the companyhttp://www.greatwest.com/index.htm
The policies only had one exclusion and that was suicide.
Kirk

If you are in the military (see below) and want insurance above the SGLI, I would recommend the Army and Airforce mutual aid society. ALL AAFMAA policies have NO war, NO aviation and NO terrorist clauses and skydiving military or civilian is good to go.

A person in good health can get a $600,000 for less than $30 a month.

http://www.aafmaa.com/

Eligibility
Applicants become AAFMAA members when they meet medical requirements and are issued a life insurance policy on their own life. Members can then purchase additional policies for themselves, their spouse, children and grandchildren. Our policies have no war, no aviation and no terrorism clauses. Unlike SGLI, after leaving the military, members can keep and buy more AAFMAA insurance. All member families receive Survivor Assistance Services at no charge.

MEMBERSHIP ELIGIBILITY
Army or Air Force personnel who are:
Active Duty (or within 120 days after separation)
Guard or Reserve(Full or Part Time)
USMA and USAFA Cadets
ROTC Contract/Scholarship Cadets
Army and Air Force Retirees (through age 65)
Honorably discharged veterans residing in North Carolina and Virginia

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If you are in the military (see below) and want insurance above the SGLI, I would recommend the Army and Airforce mutual aid society. ALL AAFMAA policies have NO war, NO aviation and NO terrorist clauses and skydiving military or civilian is good to go.

A person in good health can get a $600,000 for less than $30 a month.

http://www.aafmaa.com/

Eligibility
Applicants become AAFMAA members when they meet medical requirements and are issued a life insurance policy on their own life. Members can then purchase additional policies for themselves, their spouse, children and grandchildren. Our policies have no war, no aviation and no terrorism clauses. Unlike SGLI, after leaving the military, members can keep and buy more AAFMAA insurance. All member families receive Survivor Assistance Services at no charge.

MEMBERSHIP ELIGIBILITY
Army or Air Force personnel who are:
Active Duty (or within 120 days after separation)
Guard or Reserve(Full or Part Time)
USMA and USAFA Cadets
ROTC Contract/Scholarship Cadets
Army and Air Force Retirees (through age 65)
Honorably discharged veterans residing in North Carolina and Virginia

I see this on their webpage...

Because AAFMAA policies have NO war clause, NO aviation clause or exclusion and NO terrorist clause, payment is certain in the event of a combat death.

Are you certain jumping is not excluded? It sound as if they don't exclude in a combat situation. Have you read your policy carefully or did someone just tell you that? I'm not trying to be arrogant...I spent alot of time in the insurance biz and what an agent tells you and what the policy states are sometimes at odds.

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Check with your local Farmer's Bureau for your state. If you want a hefty policy, they are usually the cheapest around and you get fantastic face-to-face time with your insurance agent that you usually can't get elsewhere....they shoot it straight for the most part.

I'm young, 24, and with no pre-existing medical conditions I was able to get a great rate. I pay less than $30 a month for what you quoted, but just as an individual policy since I'm not married (yet). They only asked me if I actively participate in skydiving or plan to in the next 12 months, which I don't....but in 13 months I do . It couldn't have worked more perfectly in my situation. I'm still in post-grad school and can't skydive until next year, so I'm locking in all of my insurance and disability plans NOW before the I get gouged by the plan rates because I'm considered "high risk".

Better read that policy real hard. I don't think your plan is going to work.

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I have recently looked at life insurances and the best I have found was this one:

http://www.diversalertnetwork.org/insurance/life/coverage.asp

You have to be a member of DAN but the membership fees are inexpensive and the insurance seems to cover extreme sports.

Edited to add: The membership fee is $25/year.

Second time I've looked at this website and I can't find anything that references coverage for jumping.

Better read that policy real hard. I don't think your plan is going to work....I second that. I race motorcycles in the desert, and jump. This is from ALL State ins co. This DOES cover a bounce. Just curious to what others have. From the looks of it, some of you better read the fine print.

Insurance companies aren't stupid . They've been doing this awhile and there are very few that won't charge you extra for jumping, or exclude it altogether.

If you think you can get over on them well, you might until its time to file a claim. Especially if its a big one...they don't just hand your survivors a check until they've done some investigating. If they can find any way to NOT pay the claim that's just what they'll do. They have whole departments whose sole purpose is to find a way to get out of paying. If they decide to deny the claim they'll galdly refund every dime you ever paid them.

May times I heard people say "i'm covered for ____". My response has always been "did you read that in your policy or did someone just tell you that?" I'd advise everyone to read their policy and make sure you really are covered for jumping.

Also, if you're actively jumping and die in some other way, and you didn't disclose your skydiving at the time of application they can deny the claim solely on the fact that you attempted to defraud them.

I'm sure there are alot of you who really are covered for jumping...but I'll bet there's even more of you who think you are but aren't.

I searched high and low, read my ENTIRE policy (sad yes, but also smart), and disclosed my skydiving accurately. I've even bookmarked and highlighted the pages in the policy for my family in the event of my death so that they are aware of everything they are entitle to in such a circumstance.

In fact, even my insurance agent scuba dives (pictures on his wall to prove it) and said he had the same concerns but showed me where the policy doesn't exclude skydiving. But yes, in general most people just sign and without evidence or lie...and that's where you run into trouble. Insurance is a tricky business...

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I searched high and low, read my ENTIRE policy (sad yes, but also smart), and disclosed my skydiving accurately. I've even bookmarked and highlighted the pages in the policy for my family in the event of my death so that they are aware of everything they are entitle to in such a circumstance.

In fact, even my insurance agent scuba dives (pictures on his wall to prove it) and said he had the same concerns but showed me where the policy doesn't exclude skydiving. But yes, in general most people just sign and without evidence or lie...and that's where you run into trouble. Insurance is a tricky business...

It might not exclude it but it certainly will be more expensive. You say you disclosed it accurately...maybe you did...maybe you didn't. You say it asks whether you plan to jump in the next 12 months. I think they might be assuming that you haven't jumped before. The mear fact that they ask about it leads me to believe they would increase the premuims if you answered yes. So they might have a problem with your "disclosure".

I really don't know of a life insurance policy that won't charge more or have a complete exclsuion for "hazardous activities".

When I got my policies I explained to them that I skydived and they stated they only had a suicide exclusion. They stated the reason they could do this so cheaply was because the policies had a cap of $100,000. I have looked through my policy and had another insurance agent (who did not believe it would cover skydiving) look through it too and the only exclusion was suicide so there are cheap policies out there if you look enough.
Kirk

I have Allstate and i am definatelly covered. It does cost more for the adder. Now if you have there insurance before you start jumping, and dont let it lap, you can start jumping and be covered if you bounce (with out the adder). Allstate also rates you on how many jumps you do a year, the more you jump the cheaper to rate is. That is why i tell my wife i have to jump so much

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I have Allstate and i am definatelly covered. It does cost more for the adder. Now if you have there insurance before you start jumping, and dont let it lap, you can start jumping and be covered if you bounce (with out the adder). Allstate also rates you on how many jumps you do a year, the more you jump the cheaper to rate is. That is why i tell my wife i have to jump so much

I'd be interested in seeing where it says that. They probably have the rider because they won't cover it in a normal policy.

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...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.

That seems a bit pricey. I have $100,000 for $40/month through London Life.