Skydiving and Life Insurance?

Many people who are thinking of taking up skydiving may be hesitant because if the unthinkable happens up there and they need to make sure their loved ones are covered, will their current insurance policy cover them? Well simply put, if you get the insurance before you skydive, yes it will and if you get it after you take up skydiving and didn’t disclose your hobby, most likely not. However, if you were up front with the agent about your tendency to jump out of planes, you will most likely be fine due to an addition that was most likely in your policy.

This addition, with most major insurance companies, dictates that the policy holder will pay a certain amount per year to cover the additional risk to the life insurance company. Generally this is a flat rate extra fee, usually about £100 but some companies will charge per number of times that you go skydiving in a year. What it all comes down to is making sure that if you are a skydiver looking for life insurance, be honest about your needs and situation with insurance companies and see who can give you the best deal. If you already have life insurance and want to jump out of a plane, strap on a chute and enjoy the ride!