Give me a minutes to catch up.@Superlyte27 thoughts?
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Give me a minutes to catch up.@Superlyte27 thoughts?
I totally need to wake up before I start reading/responding. Initially I thought I was on the liability thread. I just came back to this page and read that this is a life insurance thread. Okay, let me gather some less groggy thoughts.@Superlyte27 thoughts?
In most states, NOT NY OR CA and a few others, if your policy is 2 years old, it doesn't matter how you die, the company has to pay. In some states, insurers are able to write into the contract that you can NEVER die in a plane crash as a private pilot, in a diving accident, racing accident, etc. For those people, I'd come to Florida to write your policy.I have a large life insurance policy. Does this mean that if I have a fatal diving accident that I won't be covered ? Thanks for posting this topic.
I can look at your contract and tell you in 45 seconds.I just spoke to my Life insurance agent. He says I would be covered. I hope he is right.
So, as a commercial diver, I was completely uninsurable for Life Insurance. As a tech diver, I might as well be uninsurable. Some of you may remember that about a decade ago, I was able to get the actuaries of American National Insurance Company to look at the data for cave divers. We pulled everything we had from the NACD and NSSCDS and IUCRR to determine the fatality rates of cave divers. In the end ANICO did start writing life insurance on full cave divers. But the prices were still pretty high. Something like a flat extra of $5-7/thousand. So, if you have a $500k policy, you'd pay and extra $3500 per year just for being a cave diver (ON TOP OF THE NORMAL RATE)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.
So, as a commercial diver, I was completely uninsurable for Life Insurance. As a tech diver, I might as well be uninsurable. Some of you may remember that about a decade ago, I was able to get the actuaries of American National Insurance Company to look at the data for cave divers. We pulled everything we had from the NACD and NSSCDS and IUCRR to determine the fatality rates of cave divers. In the end ANICO did start writing life insurance on full cave divers. But the prices were still pretty high. Something like a flat extra of $5-7/thousand. So, if you have a $500k policy, you'd pay and extra $3500 per year just for being a cave diver (ON TOP OF THE NORMAL RATE)