Life insurance and diving, an inside glimpse of underwriting guidelines

[cerich]

 

[cerich]

 

[cerich]

 

[wnissen]

I appreciate this information! Do you have any insight into why there are such (relatively) strict limits? You'd think they would be happy to insure anyone at the right price. But 10 dives a year max, all accompanied? Basically that's a pure vacation diver.

 

[cerich]

I appreciate this information! Do you have any insight into why there are such (relatively) strict limits? You'd think they would be happy to insure anyone at the right price. But 10 dives a year max, all accompanied? Basically that's a pure vacation diver.

I imagine they have crunched the numbers based on claims, stats and the feelings and knowledge (or lack of) of the person that sets them. But it's not my area of expertise (insurance) I could learn I guess but my MBA taught me enough to know I don't want to do that type of work

 

[Jcp2]

I appreciate this information! Do you have any insight into why there are such (relatively) strict limits? You'd think they would be happy to insure anyone at the right price. But 10 dives a year max, all accompanied? Basically that's a pure vacation diver.

I think they will insure anybody at the right price. These guidelines seem to be the maximum dive risk by company in order for an insured to be on the standard non smoker rates. Exceed these and then the insured pays a higher table rate determined by an individual point assessment of all health and activity risks.

 

[wnissen]

I think they will insure anybody at the right price. These guidelines seem to be the maximum dive risk by company in order for an insured to be on the standard non smoker rates. Exceed these and then the insured pays a higher table rate determined by an individual point assessment of all health and activity risks.

Oh, I see, that's the level that has no appreciable impact on mortality. Makes sense, thanks.

 

[runsongas]

so tech diving is basically uninsurable? how do commercial divers get coverage then?

 

[wnissen]

so tech diving is basically uninsurable? how do commercial divers get coverage then?

As was explained to me, tech diving requires separate underwriting based on the activity. So it's not that you're uninsurable, but you don't qualify for the best rate. Many people don't for various reasons. I assume commercial policies are entirely separate.

 

[kensuf]

@Superlyte27 thoughts?