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Low Cost Life Insurance for Nascar Drivers & Stock Car Racers

Jack Venturi Life Insurance, Nascar Racing, Stock Car Racing Comments Off on Low Cost Life Insurance for Nascar Drivers & Stock Car Racers

Life insurance for stack car racers

For many years now, life insurance companies have viewed the auto racing sports as a high risk category for providing life insurance. If you drive a high tech NASCAR stock car or just a simpler lower budget type stock car at your local racetrack the end result is your quest for life insurance is going to be just a little more complicated.

Can you still purchase affordable Term life insurance? Yes, you can and this article will show you how simple it can be when you are using an experienced agent with an auto racing background and hands on experience. I am going to explain how this process works so you can see how simple and stress free this application process should be to purchase life insurance for stock car drivers.

Nascar Drivers, NHRA Drag Racers, Boat Racers, Motorcycle Racers are virtually all in the same boat when it comes to a racing sport.

When a stock car driver wants to apply for Term life insurance or permanent Universal Life insurance for that matter, this first step is to answer some basic questions about their auto racing sport, experience level and racing classification. Here are some of the simple questions you will need to answer when applying for life insurance for stock car drivers. This list will be the same for actual NASCAR driver and other forms of stock car racing.

  • Name of actual racing classification.
  • Top speed MPH achieved when racing.
  • How many times do you race annually?
  • Type of fuel used by your race car.
  • Experience level.
  • Professional or amateur.

That is basically it for the questions you will find on a hazardous sports questionnaire. TheTerm life insurance for stock car drivers companies I use for the racing sports are no stranger to this type of underwriting and they offer the lowest rates with the simplest type of application which is easily completed over the telephone. It does not get any simpler than this. Nobody likes to have a long drawn out process when applying for life insurance.

Do life insurance companies charge more for Nascar stock drivers than a person who is not involved in a racing sport?

Yes, they do, but the final premium will depend on just how hazardous your particular phase of the sport actually is. If you remember reading the routine questions the companies ask, the answers to those questions are going to determine the probability of being killed in a racing accident. This is basically common sense that people can perfectly understand. We can run a quick pre-screen to be able to give you an accurate premium quote without having unwanted surprises after the insurance company processes your application.

Here is how are the additional rates are computed by the life insurance underwriter processing your application.

Low cost life insurance for NASCAR racersAs a standard procedure with auto racing cases, an extra charge referred to as a “flat extra” will be applied to the base premium. For example, if a racer applies for a $100,000 face amount policy, an example of a $2.50 flat extra could be applied to each $1,000.00 worth of life insurance coverage. If the base premium was $1,000.00 per year and the flat extra was $250.00 the final premium would be $1,250.00. Some companies will allow you to put an exclusion rider on the policy where the premium would not go up on the policy.

The actual racing could be excluded from the policy if you would rather go that route also. This is a very simply process and usually the life insurance is still very much affordable to purchase even with the racing coverage built in to the policy. Your typical rate class such as preferred will usually be changed to a “standard plus” or a “standard” rate class due to the racing coverage being included on the policy.

Some companies will change your rate class and add on a flat extra charge at the same time or possibly one or the other. This will always depend on theLife insurance quotes for Nascar drivers specific information on your life insurance application. This is just a standard procedure the companies use to charge just enough of an extra premium to cover the added risk they are undertaking with your policy.

Just think of a conventional everyday life insurance policy incorporating the simple addition of coverage for auto racing.

If anyone applies for affordable term life insurance, the underwriting process from start to finish will take about 4-6 weeks possibly longer. There will no extra time involved when you are applying with a hazardous sport or occupation involved. We make the application of life insurance for motorsports racers a nice simple process along with the lowest rates possible. We utilize over 40 trusted life insurance companies to give you every option to find the best Term life insurance policy at the lowest possible rates.

Term life insurance for stack car driversFeel free to contact us 7 days a week for all the help you need to purchase low cost term life insurance for auto racing. We can usually produce a quote in less than an hour for virtually any class of Stock Car Racing that you are involved in. Thank you for reading our blog post Low Cost Term Life Insurance for Nascar Drivers & Stock Car Racers.

Here is our service area where we shop the market to help people find the best life insurance products with the lowest premiums possible for  auto racing.

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Jack Venturi

Jack Venturi

Jack Venturi is the owner of BestChoiceLifeInsurance.com and is a licensed Insurance Broker with more than 25 years experience specializing in all forms of life insurance products. You may learn more about him at BestChoiceLifeInsurance.com
Jack Venturi

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