Life Insurance and Scuba

[MaxPower]

I just bought a house and my fiance wants life insurance for us to cover the mortgage in case one of us takes a dirt nap. Does anyone have experience with respect to insurance company's stand on regular diving? Does it up the price? Could it affect the payout? Plus, what about tech diving?

 

[Ontwreckdiver]

We have our house, auto, and life insurance thru the Co-operators. I have to pay an extra $30.00 a month on my life insurance to be covered while diving. I had to fill out a 3 page questionaire. Some of the questions included, how many dives have you done 0-60ft., 60- 100ft., over 100 ft. How many dives will you do 0-60ft., 60-100ft., over 100ft. Do you dive solo, do you wreck dive (had too lie about that one), do you teach diving. So I'm guessing that they wouldn't like tech diving. If I didn't take the extra coverage on my life ins. when we signed on with them, they wouldn't cover me at a later date.

 

[Ted S]

Most policies I've read have exclusions for various "high risk" activities which, as Ontwreckdiver mentioned, can be waived for an additional premium. I'd suggest you carefully review yours and consider getting supplemental insurance if there's any doubt. I've never seen anything about tech diving myself but since I don't do it, it's entirely possibly I just skipped over that part of the details. The same goes for health insurance. While your career might cover the cost of treatment, be sure they'll also cover the cost of getting you to a treatment facility if, for example, you need to be airlifted or are in a foreign country enjoying some warm water.

 

[seadoggirl]

I actually checked my life insurance through my employer - Department of Navy - and I am covered. My policy doesn't cover me if I die in an act of war but it does cover me diving - Think on that one for a minute?

 

[Jim Lapenta]

My standard policy thru work covers me while diving. However the supplemental insurance that's available to us will not. Considered a high risk activity. I do have some extra with my DAN master plan. But as far as getting some ridiculous amount like a 1/4 mil or more? Not worth the extra expense. Anyway I'll be dead so I don't think I'll care. My better half is taken care of as is my daughter. My son is in the military so he doesn't need the money and there will bo no funeral expenses cause after they part me out the rest is going to whatever med school wants me. No funeral director ghoul or scam cemetary is getting a cent. 1000 bucks for a 3x7 lot and a who knows how much for a box? No friggin way. I'd rather my son spend what money he will get on hookers and beer.

 

[MaxPower]

I'd rather my son spend what money he will get on hookers and beer.[/quote]


I wish you were my dad.

 

[adjuster-jd]

I'm insured with USAA (only available to military members and their families) and their rates are pretty good. They asked some questions about my diving, but they didnt seem to have any issues with it. That was before I was an instructor and at that time I was doing about 50 dives per year. I don't do any tech diving so that was not a problem.

 

[kevink]

You need to be truthful with your insurance agent and insurer. Keep in mind when you put in a claim (hopefully never) it is deemed a financial loss to the insurer. If there is an out for them, like you die diving and they happen to discover you were certified and pursuing further training before you even applied for your policy they are the off the hook and don't have to pay. Agencies keep records of your training and they are discoverable during litigation.

Yeah there is about three extra pages of questions about your diving history, much of which makes no sense to me, with lots of stupid questions only a non-diver could dream up. You are never getting A1 perferred rates. I think my life insurance is good for about another $30 per month given my diving history, but I know I am on the up and up, and if push comes to shove my insurance agent is showing up with a check when I check out.

Just my 2 cents.

 

[msg]

When my wife and I increased my policy I was asked about diving. I thought about skipping those questions, but as it has been mentioned, if an accident did occur, my wife would be without the payout. It really did not add that much to my premiums. The agent told me that the rate was less than normal, because I was being an AI, and working toward more advanced certs. I haven't gone tech, yet, but I'm sure that it will make a difference.

 

[Mandarin Goby]

Back when I was selling insurance (in a previous life), those were standard questions, along with things like motorcycle riding, hang gliding, etc. You wouldn't be excluded if you died from one of those things, as far as I remember, but your premium would be higher. That said, now I'm paranoid, and I'm going to check my own policy language, given I didn't dive (or any of those other things) at the time.