Affordable Life Insurance for NHRA Drag Racers
As you fellow drag racers must know, purchasing a life insurance policy when you are participating in driving a ¼ mile car can be a problem due to your sport. The problem normally is not being declined on your application as much as it is the premium you would have to pay each year. The solution to the problem is using a life insurance company that has the lowest rates to begin with and then has a friendlier attitude towards auto racers in general.
Most insurance agents do not have any drag racing experience so it is harder for them to relate to shopping for affordable life insurance for drag racers. We utilize over 40 of the most competitive life insurance companies to get you the best rate.
If your drag racing class is pure stock to Top Fuel, we can help you find the best Term life insurance with the lowest rates possible.
There are basically two ways to go when applying for life insurance. The first way is normally purchasing a Term life insurance policy that insures your life while you are driving a race car and the other choice is purchasing a policy that has a rider that would insure you for any cause of death accident or illness but excludes you from coverage when actually driving a car down the racetrack. If you choose the rider version, you would qualify for whatever rate class you would qualify for regardless of your drag racing participation.
If you choose life insurance with an exclusion for racing there would be no extra cost for drag racing what so ever.
If you want to be covered while actually driving on the racetrack, you would be normally be charged a “flat extra” fee for the added risk involved by the company.
Depending on what type of a car you race, you could receive a “flat extra” which is an additional percentage on top of your Standard or Standard Plus rate class premium. For example if a drag racer drives an NHRA blown alcohol car that runs in the 6 second ET category, you could possibly see a rate-up of an addition $2.50 per $1000 of face amount coverage. If you drove a car that runs on gasoline and it is not supercharged and runs in the 10 second category you could receive a lower rate-up of $1.50 per every thousand dollars of life insurance coverage.
These are just examples but also a very accurate description of what to expect. Keep in mind that health conditions can also affect your final rates. With the many life insurance companies we work with, we have an advantage of choosing the most applicable carrier with the lowest life insurance rates.
After we have you specific details about your car, we would then choose the most applicable carriers and then pre-screen your information.
Pre-screening can most of the time eliminate any surprises while you have submitted your application. This process only takes a few minutes and we can usually have an accurate projection of your rates in less than an hour. Purchasing Term life insurance for a drag racing should not be a difficult process if you are using the right insurance agent with experience in the drag racing sports. Drag racing is considered a hazardous sport but with our comprehensive experience, we have great success finding low cost life insurance for drag racers.
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We have over 20 years of experience helping people find affordable life insurance. Thank you for reading our blog post titled Affordable Life Insurance for NHRA Drag Racers.