When most people plan on applying for Term life insurance or any form of life insurance in general, they first think about what they do that could possibly cause their rates to go up. The most common could be pre-existing medical conditions or height and weight issues.
Sometimes people don’t consider the impact hazardous occupations or dangerous sports can have. When one of the more than five million Harley-Davidson motorcycle owners gives this some thought they usually believe the motorcycle riding may become a problem and prevent their chances to receive the best life insurance rates possible. That question is what this blog post is all about.
Is riding a motorcycle for pleasure use going to increase a life insurance applicant’s premiums?
The answer to this question is normally NO. By far the majority of the life insurance companies will not increase an applicant’s premium if he or she rides a Harley-Davidson motorcycle or a Japanese bike as well. If you are planning on purchasing low cost life insurance, you will be able to get the lowest rates available based on your age, possible tobacco use, height, weight, medical history and other details such as your occupation and any sports you are involved with.
If your specific information is normal with no serious issues you should be able to qualify for Preferred and maybe even Super Preferred rates. Always remember that the insurance company underwriters set the final rates after the underwriting process has be fully completed.
The N.H.T.S.A. National Highway Traffic Safety Administration estimates you are over 30% more likely to die in a motorcycle crash than in a car or truck.
The death rate of motorcycle riders has been going up through the years due to more and more traffic on the roads and highways. There are a lot more reports of “road rage” mainly because this is a more complicated and stressful world we all live in. Years ago the phrase “road rage” never even existed and now it has become a household word.
If you are riding a motorcycle and an altercation on the highway ignites the safest thing you can do is pull over and let the driver of the car or truck go by because common sense will tell you participating in this dispute could become a fatal incident. A motorcyclist is no match for a two-ton automobile. I have owned multiple motorcycles in my day and I know this is a no win situation right from the get go.
The sport of racing motorcycles is a completely different story when it comes to your application.
If you are involved in any form of motorcycle racing you will need to answer this truthfully on the application because this question will appear. Trying to conceal this will result in the policy being rescinded (terminated) if there is a death claim and the carrier finds out that you were racing motorcycles at the time of the application. This would also be called an Omission and the life insurance company would deny payment putting your dependents in financial harms way.
If you started racing after your application was processed and placed in force, you would not have to contact them to notify you are now racing motorcycles.
Should I inform the life insurance company that I ride a Harley-Davidson motorcycle?
Yes, but only if they ask this question on the application or during a telephone interview. You never have to volunteer information unless you are asked. Always tell the truth on an application! A life insurance application is a contract for the life insurance company to pay if you lose your life.
Lying on an application is all it takes the breech the contract terminating their obligation to pay the face amount of the policy. We work with approximately 40 life insurance companies and penalties of not telling the truth on an application works exactly the same with all the carriers. We can never stress this point enough.
Purchasing Affordable Term life insurance for motorcycle riders should be no problem at all.
When we assist a new client who is shopping for life insurance we always comparison shop for them so we know who will be the most appropriate life insurance company for this specific person so they are going to receive the lowest rates possible. If you active our quote engine you will be able to compare Term and Universal (permanent) life insurance side by side in less than a minute.
This will give you a good idea of what is available to you and for how much.
Feel free to contact us 7 days a week and we will answer all your questions with no obligation what so ever. Purchasing low cost life insurance for Harley-Davidson riders is just a phone call away. Visit our About Us page for more information about us and our business.