People enjoy a variety of pastimes and some of them can be more dangerous than others.
Activities such as scuba diving, rock climbing, and aviation can sometimes make it difficult for individuals to secure the insurance they desire.
Claybrooke understands how important life insurance is to many people and works to obtain life insurance for people who enjoy these “hazardous” pastimes.
The coverage does not come with extremely high premiums or a lot of hassle when applying for an insurance plan.
Hazardous Pastimes and Life Insurance
When looking into policies such as income protection, critical illness cover, and life insurance, partaking in hazardous pastimes can have a profound impact on the terms of your coverage. Many insurance companies consider extreme sports, private aviation, motor sports, rock climbing, sailing, and scuba diving to be among these dangerous activities.
Insurance companies are always concerned about the higher risk of injury or death from these activities and employ higher premiums to cover that risk.
While participating in hazardous pastimes will not exclude you from being able to secure a life insurance or other insurance policy, it is very likely that you will be paying higher premiums than someone who does not share those activities.
In some cases, insurance companies will exclude the possibility of making a claim should you be injured or die doing one of these activities, which means they will remove activities such as private aviation or motorsports from the policy’s claimable list.
What Insurance Companies Want to Know
It is important to remember that each insurance provider is unique and has its own set of criteria to follow when it comes to hazardous pastimes. Generally, you will need to provide the insurance company with information such as the type of hazardous activities you participate in, how involved you are, how often you participate in the given activity, what – if any – qualifications you have toward the activity, where these activities take place, and if any of them are part of a competition setting.
The answers to these questions will help the insurance company determine the amount of risk the company will be taking by providing with income protection, critical illness cover, or life insurance.
These factors will also decide whether to exclude your activity from the policy’s claimable list and use your answers to calculate what your monthly premiums will be. Remember, each insurance company is different – where some agencies may see rock climbing as a huge risk, others may offer standard insurance terms.
How We Can Help
There are hundreds of insurance companies across the United Kingdom, all with specific sets of standards and views on hazardous pastimes. Some companies will increase the policy holder’s monthly premium to help cover the additional risk, others will simply exclude the activity and there are even some insurance agencies that will not consider a certain pastime hazardous at all and offer the policy holder standard terms. This is why it is so important to shop around for different life insurance options.
Claybrooke has a knowledgeable team of insurance advisors that are ready to help you do just that. Our advisors will take the time to get to know you and understand your activities, while also collecting information on what you are looking for in an income protection, critical illness cover, or life insurance policy.
Then, we will fully research a variety of insurance providers and all of their insurance policy options to help find you the perfect policy that fits both your lifestyle and your budget.
Just because you enjoy a pastime that is considered “hazardous” does not mean you cannot qualify for an affordable income protection, critical illness cover, or life insurance policy.
By shopping around to different insurance companies and getting helpful advice from your Claybooke advisor, it is possible to find an agency that is willing to cover you and help protect your family, even if you enjoy the occasional rock climbing trip or motocross race. Claybrooke’s team is here and ready to help you!