How to Apply for Life Insurance for Skydivers With the Best Rates in 
Finding the best life insurance for skydivers is not tricky. On the contrary, it is pretty easy with today’s streamlined ways of purchasing coverage. If you think about it for a minute, jumping out of an airplane sounds very intimidating at a very high altitude. Then having to depend on a parachute to work 100% of the time to save your life is another story altogether.
Thankfully, life insurance companies have an open mind to skydiving, and you can purchase life insurance at very affordable rates. However, getting the best life insurance quotes for skydivers will depend on several specific conditions for each applicant, which we will cover in detail.
We will cover everything you need to know to apply, get approved, find the best rates, and get you back to doing fun things like jumping out of an airplane.
Table of Contents
- Can I Buy Life Insurance if I Skydive?
- Does Skydiving Affect Life Insurance Rates?
- Does Life Insurance Cover Skydiving?
- What Are the Best Life Insurance Companies for Skydivers?
- How Will My Life Insurance Rates Be Calculated?
- What Are the Best Types of Life Insurance for Skydivers?
- What Questions Will Life Insurance Companies Ask?
- How Will My Experience Level Affect My Rates?
- What Are Life Insurance Flat Extra Fees?
- Examples of Flat Extra Fees and How They Work
- Can I Join a Skydiving Club to Help Reduce My Rates?
- What Are Policy Exclusion Riders for Skydivers?
- Should I Connect With an Independent Insurance Agent?
- Why Should You Consider Working With Us?
- Can I Apply Over the Telephone to Save Time?
- How Can I Compare Life Insurance Quotes for Skydivers?
- Should I Request a Medical Pre-screen Before I Apply?
- In Conclusion
Can I get life insurance if I skydive? This is probably one of the most common questions we hear people ask. The answer is yes, and you have a lot of good choices in companies and plan designs. Skydiving is a popular sport nowadays, but it is classified as high-risk by the life insurance industry.
There are many types of risky sports, and purchasing skydiver life insurance is usually not a problem unless you have severe medical concerns. However, remember that your health is even more critical in obtaining coverage than your high-risk skydiving sport. If you are reasonably healthy, you should have no problem.
Does skydiving affect life insurance? This is a critical question many times in insurance-related conversations. People typically feel that their sport will make it difficult to purchase or raise the rates of a new life insurance policy. Unfortunately, this sport makes buying a new plan a little more challenging because it does require a few more questions to be answered.
It can also raise premiums a little due to flat extra fees’ additional high-risk related costs. However, you should be fine if you have the proper training and equipment before jumping from an airplane. Naturally, the more experience, the better also.
Skydiving is covered by life insurance policies you already have active and in force. To apply for new coverage, you must answer the hazardous sports questions on your new application for coverage. The questions will relate to sports such as drag racing, scuba diving, rock climbing, and skydiving. Don’t ever attempt to conceal your hazardous sports. When asked, omitting them could result in a non-payment of claims if you were killed in a sport you did not want to disclose.
You have an excellent choice in life insurance companies for skydiving. Here is a list of some of the best carriers that are very liberal towards your sport. We also recommend running our instant quoting system and comparing the companies listed below with their premiums to get a first-hand view of who has the lowest rates. Here are some of the best insurers:
- Banner Life
- John Hancock
- Lincoln National
- Protective Life
- Mutual of Omaha
- AIG (American General)
- Principal Life
Your health will be more critical than your sport of skydiving in terms of your premiums. It won’t pay to get too involved with choosing a company because more information must be collected for each applicant. Your acceptance and finding the best life insurance rates for skydivers will depend on other aspects, such as:
- Health History
- Sports & Hobbies
- Parent’s Health & Longevity
- Driving Record
- Medications Used
- Tobacco Use
- Height & Weight
- Credit History
This is all standard information required by insurance companies and for agents to pre-screen the many life insurance companies so they can choose the best carrier for your specific needs. This is how you can receive the best rates at any time.
Term Life Insurance:
Term life insurance is the first life insurance product sold in the United States. It is the most cost-effective plan design, and you can buy it for as long as needed. You can choose life insurance products with a term of 10 to 40 years. Term policies can also be converted into permanent life insurance (universal life) during your term policy period.
Universal life insurance is a permanent life insurance product that will last for the rest of your life as long as you keep paying your premiums. Whole Life was famous years ago, but it was far too expensive as time passed. Universal Life is much more affordable and gives you the same lifetime protection. It costs over double the price of the term, but it will last the rest of your life with no possible gaps in coverage like term products can.
No Medical Exam Life Insurance:
No medical exam life insurance is also known as Non-Med life insurance. The application is shorter than a fully underwritten conventional plan design, eliminating the physical exam. The side effect is that these plans cost a little more than traditional term life insurance. However, these plan designs can work great if you skip the exam and quickly get approved.
Your skydiving experience is no different from flying an airplane or scuba diving. The more knowledge you have, the better when applying for life insurance. Also, the more training you have, the better. However, everybody has to start someplace, so if you’re new to the sport, you should still get affordable rates and be issued a policy. You can even re-apply later for lower rates once you have more time as a skydiver.
- How many skydiving jumps do you make a year
- How much experience do you have in skydiving?
- Do you jump over dangerous terrain or water?
- Do you belong to any jump clubs?
- Do you skydive for recreation or pay?
- Do you use standard-approved equipment or experimental?
The additional costs for skydiving are flat extra fees. These are commonly used in many potentially hazardous sports and occupations. They are simply a different flat-dollar amount that will be added to your existing base rates for your life insurance. Whatever your health classification is, the flat extra fee will be additional. Remember that the flat extra fees are based on every $1,000 in coverage. Here is a breakdown of how these flat extras fees work:
- 50 jumps a year or less – $2.50 per $1,000 of coverage
- Over 50 – 100 jumps per year – $5.00 per $1,000 of coverage
- 100 jumps per year and around – $7.50 to $10.00 per $1,000 of coverage
Remember that these flat extra fees vary between companies you ultimately choose to apply with. Your agent (hopefully for us) can help you be simple and effective. Getting the lowest rates for skydivers is the primary goal, not a trusted company and plan design. These fees are used because of the additional risks the insurers take when they insure the life of a skydiver. Check out this fatal skydiving accident article at DropZone.com.
Here is an excellent example of a flat extra fee in action. For this example, we will use a 35-year-old male purchasing a 30-year term policy with a face amount (death benefit) of $250.00. We will use an example of a premium of $1,200.00 per year as a base premium without a flat extra charge.
- A $2.50 flat extra fee – $2.50 times 250 (the face amount). $2.50 x 250 = $625.00. A base premium of $1,200 +$625 = $1,825.00 total premium.
- A $5.00 flat extra fee – $5.00 times 250 (the face amount). $5.00 x 250 = $1,250. A base premium of $1,200 + $1,250 = $2,450.
- A $7.50 flat extra fee – $7.50 times 250 (the face amount). $7.50 x 250 = $1,875. Base premium of $1,200 + $1,875 = $3,125 total premium
The higher or lower the face amount you apply for will have a greater or lesser effect on your total premium because the flat extra fee is based on each $1,000.00 of coverage. The fees issued by the companies are not etched in granite. I often see companies more lenient on the applicants and reduce or eliminate the costs.
Joining a skydiving club is one way to help get better life insurance rates for skydivers. These clubs will be a wonderful place to learn more about skydiving and to be able to learn more about safety. As a result, life insurance companies feel more comfortable with more knowledgeable applicants and promote lower rates. Here are some skydiving jump clubs and organizations that can help you.
- United States Parachute Association of Virginia
- National Skydiving League of Florida
- Skydive Chicago, Illinois
- Skydive San Diego, California
You have another option when purchasing life insurance for skydivers: requesting a policy that does NOT cover the actual act of skydiving. Not all companies offer these exclusions. You can generally request an exclusion if you have declined coverage based on skydiving alone. Or to reduce the cost of a life insurance policy. Most people want to be covered when they jump out of that airplane, so the choice is definitely up to you. It is something you have to consider carefully.
Anytime you shop for insurance products, connecting with an independent agent such as ourselves will save you time and money. Independent agents represent the entire insurance market and can place you with the best company to provide you with the lowest rates. This especially holds when purchasing high-risk life insurance for skydivers.
Captive agents, such as State Farm, can only show you one company. The captive agent works for their company directly and has their employer’s best interest in mind. Independent agents do not work for insurance companies. That is why they are known as independent agents. Essentially, they work for their clients and have their best interests in mind.
What makes us any different than all the other insurance agencies out there? This is an excellent question, and I want to give you a solid answer. First, we don’t make promises we can’t keep or tell you just what you want to hear, like some other agents. We will only give you the plain facts, whatever they may be. We have over 25 years of experience and work hard to get our clients the best policy and the lowest premiums they could ever qualify for. Purchasing skydiver life insurance has always been easy; we ensure you get the lowest rates possible.
Applying for life insurance for skydivers is faster than ever with telephone applications. All you have to do is listen to the questions, answer the questions over the phone, and complete your application in about 15 minutes. You don’t have to complete 20-page paper applications or confusing online applications that require the use of a computer along with some computer skills. We use the SnapApp system, which makes applying a breeze.
If you want to compare the best life insurance quotes for skydivers, go to our instant quoting system on our website. You will be able to review more than 40 of the most competitive life insurance companies compared side by side in less than a minute. We can also give you a premium quote right over the phone. In addition, if you have any medical conditions, we can show you how they affect your rates.
Suppose you have any medical conditions, we always recommend a quick 5-10 minute medical pre-screen to eliminate any surprises later. A pre-screen will also help us choose the best company to place your application. Jumping into an application blind can cause unnecessary problems for the applicant and the agent.
If you are planning on purchasing skydivers life insurance and the idea of your sport has you worried, don’t give it another thought. We work with all forms of risky sports and hobbies every day. Contact us today and we will answer your questions and remove all the guesswork you may have.
In addition, we will provide you with life insurance quotes from all the most competitive companies chosen explicitly for you and your budget. We are here to help you seven days a week.
All the best,
If you have questions about life insurance for skydivers, contact us today and let us help you at no cost or obligation. Remember that we are brokers and work for our clients, not insurance companies. Our job is to help you get approved for the best policy with the best rates. You can also set up a time at your convenience to talk.