Life Insurance for Skydivers | The Definitive New Guide for 
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 who applies, 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 You Get Life Insurance if You Skydive?
- Does Skydiving Affect Life Insurance?
- Does Life Insurance Cover Skydiving?
- What Are the Best Life Insurance Companies for Skydivers?
- How Will My Life Insurance Rates Will Be Calculated?
- What Are the Best Types of Life Insurance for Skydivers?
- What Questions Will the Life Insurance Companies Ask?
- How Will My Experience Level Affect My Rates?
- What Are Flat Extra Fees for Skydiving Life Insurance?
- Examples of Flat Extra Fees and How They Work
- Can I Join a Skydiving Club and 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 you get life insurance if you 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 different types of risky sports, and purchasing life insurance usually is not a problem. Just keep in mind that your health plays an even more critical role in obtaining coverage than your high-risk skydiving sport does. If you are reasonably healthy, it should have no problem.
Does skydiving affect life insurance 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. But 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 the premiums a little due to flat extra fees’ additional high-risk related costs. However, if you have the proper training and equipment you should have before jumping out of an airplane, you should be fine. Naturally, the more experience, the better also.
Skydiving is covered by life insurance policies you already have active and in force. If you are going to apply for new coverage, you must answer the hazardous sports questions on your new application for coverage. The questions will relate to several 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 just 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 so you can 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 as far as affecting your premiums. It won’t pay to get too involved with choosing a company at this point because more information has to 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
- Parents Health & Longevity
- Driving Record
- Medications Used
- Tobacco Use
- Height & Weight
- Credit History
This is all utterly 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 every time.
- Term Life Insurance – Term life insurance is the number one life insurance product sold in the United States. It is by far the most cost-effective plan design, and you can buy it for as long as you’re going to need it. You can choose term life insurance products with a term period of 10 to 40 years. The term policies can also be converted into permanent life insurance (universal life) during your term policy period.
- Universal Life – 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 does cost over double the price of the term, but it will last the rest of your life with no possible gaps in coverage like term product can.
- No Medical Exam – 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 these plans cost a little more than traditional term life insurance for commercial fishermen. 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 under your belt 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 terrains 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 for many potentially hazardous sports and occupations. They are simply an extra 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. Keep in mind that the flat extra fee is 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 over – $7.50 to $10.00 per $1,000 of coverage
Keep in mind that these flat extra fees vary between companies you finally choose to apply with. Your agent (hopefully us) can help you with all of this to 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 by 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 (which is the face amount). $2.50 x 250 = $625.00. Base premium of $1,200 +$625 = $1,825.00 total. premium.
- A $5.00 flat extra fee – $5.00 times 250 (which is the face amount). $5.00 x 250 = $1,250. Base premium of $1,200 + $1,250 = $2,450 total premium.
- A $7.50 flat extra fee – $7.50 times 250 (which is 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. These fees issued by the companies are not etched in granite. I will often see the 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, the life insurance companies feel much more comfortable with a more knowledgeable applicant and promote lower rates. Here are some skydiving jumps clubs and organizations that can help you.
- United States Parachute Association in Virginia
- National Skydiving League in Florida
- Skydive Chicago in Illinois
- Skydive San Diego in California
You have another option when purchasing life insurance for skydivers, which is requesting a policy that does NOT cover the actual act of skydiving. Not all companies offer these exclusions. You could 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 your shopping for insurance products, connecting with an independent agent such as ourselves will save you time and money. The 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 true when purchasing high risk life insurance for skydivers.
The 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 good solid answer. First of all, 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.
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 would like to compare the best life insurance quotes for skydivers, go to our instant quoting system on our website. You will be able to review over 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 life insurance and the idea of your skydiving 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 all your questions and remove all the guesswork you make have. In addition, we will provide you with life insurance quotes from all the most competitive companies chosen explicitly for you and your budget. You can also conveniently within 15 minutes of your time.
All the best,
If you have any questions about life insurance for skydivers, contact us today and let us help you with 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 for your needs with the lowest rates possible. You can also set up a time at your convenience to talk.