Drag racing is a very popular sport in the United States and continues to keep growing. Driving some of the more intense race cars such as NHRA Nitro Funny Cars and Top Fuel Dragsters takes a lot of skill and training. Exceeding speeds of well over 300 MPH is commonly performed by the professionals who are formally trained and licensed for their desired class.
Many drivers either in the professional or amateur status believe purchasing Term or permanent life insurance is going to be too expensive or not even available to them. Purchasing life insurance for these high risk classes is available and can be much more affordable than you may believe. If this starts getting confusing in any way at all, just bail out and grab the phone and we will answer all your questions the easy way over the telephone.
Purchasing life insurance for NHRA nitro class drag racers is very much available and affordable.
I personally have had hands on experience in drag racing and understand this great sport right from the get go. Many life insurance companies have done their homework and offer affordable Term life insurance at very affordable rates today. The bottom line is connecting with a life insurance agent/broker that understands the sport and how the life insurance companies work with an application that has drag racing listed as one of the hazardous sports or occupations. We work with over 40 highly competitive life insurance companies to give you the best choice in carriers in order to locate the lowest rates.
You have a choice of being covered when driving your car or adding a rider which eliminates the actual driving exposure all together.
You have the choice to purchase life insurance that covers you while you are going down the ¼ mile or a life insurance policy that incorporates a rider the does not insure your life while in the act of driving a race car. Most people want to be covered while driving the car and that is when an additional charge called a flat extra comes into the picture. The “flat extra” fees vary from the more mild classes beginning with $2.50 all the way up to $7.50 per one thousand dollars in coverage for the nitro class cars.
If you exclude the drag racing coverage, the policy would be just the same as if you never drove a race car at all. If you were in good health and could qualify for preferred rates, then you would be issued a policy with preferred rates. The only exception would be is you are not covered while going down the track behind the wheel. Not all companies will exclude the racing so you would have to use a company which will allow an exclusion rider.
Here are the 3 most important specifics a life insurance company look for when determining your rates.
1. Your race cars average elapsed time.
2. The type of fuel your car uses, gas, alcohol, Nitro Methane etc.
3. Your cars specific class such as Pro Stock, Alcohol or Nitro Funny Cars, Dragster, Jet Cars and so on.
As I previously mentioned, life insurance companies add an additional premium for driving the car which would be for example would look similar to a person that has a health condition. If the driving is excluded, there will be no additional premium applied to the base premium. Some people do not worry about the risk of drag racing taking their life vs. the possibility of dying from natural causes such as Cancer or heart disease.
If you need life insurance for drag racing, buy it and lock in your rates as soon as possible. Don’t pay anymore than you have too.
If you’re interested in applying for life insurance don’t waste any more time. The older you get the higher the quoting rates will be. Purchasing life insurance for people who drag race professionally should never be confusing or complicated when you have an agent that understands the sport and knows what companies will be your best choice. This comes with experience and we have over 20 years of helping drag racers find the best policy for their needs and finding the lowest rates at the same time.
Always keep in mind that life insurance rates are based on you age. Some of the companies use you current age and some use your “insurance age” which is the age of your closest birthday. The main point I am trying to make is the older you get the more expensive it will be and needless to say you don’t want to pay any more than you have to. Paying the higher rates because of even one year older can add up due to the fact you will be paying premiums for quite a few years to come. If a person waited a year before applying and the premium was $38.00 a year higher, at the end of twenty years for example the individual would pay $38.00 X 20 = $760.00 more. When you are looking at a drag racers premium that has a flat extra fee, that is another factor to take into consideration when procrastination exists.
Life insurance rates have come down due to the fact people are living longer than ever before. Run our consumer quote engine and see for yourself.
Don’t hesitate to contact us and get all your questions answered 7 days a week. There is not cost or obligation for our help. We can usually direct you to the best Term life insurance company with the lowest life insurance quotes in less than an hour which included pre-screening your specific case with multiple insurance carriers to get you the best offer with no surprises later in the application process. If you have any medical conditions we can also pre-screen them for you also. You may use our consumer quote engine to get an idea how the rates vary from one company to another. This will at least show you what the base rate of the policy would cost.
Purchasing life insurance for NHRA Nitro Funny Car and Top Fuel Dragster drivers seems like an impossibility to many people when they think of the risks involved but the life insurance companies have no problem with it at all. Most of the flat extra charges I normally see will range from $5.00 to $7.50 per one thousand dollars in life insurance coverage. For an example, if a driver wanted a Term life policy with a $500,000 face amount for 20 years you would multiply the rate of $5.00 for example time the face amount which would be 500 as shown here $5.00 X 500 = $2,500. You would then add that to the base premium of the policy and that would be the grand total.
If any of this sounds confusing in any way at all, just call us and we will give you a quote right over the telephone.
Don’t hesitate to call us for a simple explanation on how this works. If you decide you would like to apply, we will walk you through every inch of the way. If you can drive a Nitro Funny Car or a Top Fuel Dragster, applying for life insurance will be like falling off a log. Visit our About Us page and learn more about us and our business. Thank you very much for taking the time to visit our website and reading this article. Drive safely because accidents can happen when you least expect it regardless of how good of a driver you are. Take care!