Before applying for life insurance, you need to be aware how your hobbies may impact your ability to obtain coverage, such as life insurance for hang gliders.
Life insurance carriers not only take into account your health when issuing a policy, they also consider danger activities which you may participate in. Hang gliding is considered by many carriers to be a risky activity, and if you do not approach applying for a policy the right way, you may find yourself overpaying for your life insurance coverage.
Life insurance premiums and acceptance are all based on risk. Risk for life insurance can come in many different forms from medical conditions, family history, and risky hobbies or occupations. These risky hobbies can include motorcycle riding, sky diving, scuba diving, and the topic of this article which is life insurance for hang gliders.
According to the USHPA, about 25,000 people participate in hang gliding each year. Out of those 25,000 the average amount of fatalities from hang gliding is between 4 to 5.
It should be noted, many of these accidents are from very inexperienced flyers. Many of these accidents are due to individuals who went against training procedures, and many incidents were preventable.
The way a life insurance company compensates for an individual being risky is either by declining them for coverage, or charge them much higher premiums.
Some carriers do exactly this. We have spoke with many hang gliding enthusiasts who have been paying higher premiums, or just can’t find coverage which is even affordable. Finding life insurance for hang gliders does not need to be this difficult.
Life insurance carriers will ask some further questions on the application once you let them know you are a hang glider. By answering these questions they will be able to get a better idea of how much of a risk you actually are. Some of the most common questions asked regarding life insurance for hang gliders may include:
Your answers to these questions will help us determine which carrier may be best to work with. Someone who hang glides once a year will obviously be able to access better rates than the person who hang glides once a week.
You will also need to qualify for all other aspects of life insurance underwriting such as health history, current medical condition, criminal record, and family history. Rarely will hang gliding on its own disqualify you from purchasing life insurance.
When you are purchasing any good or service you understand when companies compete, you win. The same goes with life insurance.
There are so many life insurance companies available, and many of them will view life insurance for hang gliding differently. Some may issue you at a Standard rating with a $5.00 Flat Extra fee, while another company will issue you at Standard-Plus with a $2.50 Flat Extra fee. Over time, these savings add up when you work with the right insurance carrier for life insurance for hang gliders
When you are working with a high risk activity such as life insurance for hang gliders, one of the biggest advantages you can have is working with an independent life insurance agency.
We have access to over 75 different life insurance companies, so we can find you the best rating available on the market for life insurance for hang gliders. Our ability to communicate directly with company underwriters let’s us get an accurate depiction of your premiums.
This keeps you from applying with multiple carriers and hoping for the best. We take the guess work out of it for you, helping you to save money and time.