If the lingering question in your mind is, “Will sports affect life insurance premiums?” Take a closer look at the set of questions you are required to answer when applying for life a insurance policy cover. The questions are designed to help insurance companies figure out whether the sporting or the workout activity you’re involved in increases your exposure to injuries. Higher chances of getting injured may mean higher medical bills, pushing up your cover’s premium rates.
Golf, badminton and table tennis are some of the low-risk sports that are likely to attract lower premium rates. These sports are considered safe because they involve less vigorous physical contact amongst players, in addition to the fact that they usually played within safely monitored set-ups.
Extreme sporting events such as aerobatics, sky diving and hang gliding may be classified by insurers under high-risk sports that can bring about fatal injuries. This may push your medical bills upwards, prompting your insurer to charge you more. Note that giving your insurance company the wrong information about your high-risk sports tendencies may not be a good idea because though you may end up paying low premium rates, your claims are likely to be rejected at the of the day. In some instances, you may in future be disqualified from applying for personal or even family life insurance cover.
Most life insurance packages aren’t, on the other hand, flexible enough to cover high-risk events such as mountain climbing, cave diving, motor-related sports, martial arts and boxing. If you’re after high risk insurance, check out Special Risks Bureau.
The Possibilities of finding a Policy that Suits My Needs
If you’re an extreme sports fanatic and you haven’t been lucky in finding a cover that considers your life insurance requirements, keep searching because competition amongst insurers has grown steeper. They are consequently looking for innovative ways to tailor insurance products for groups without cover and this may include extreme sports participants under specified circumstances. A policy of this kind can be shaped to fit your needs, making it significant to engage the services of an insurance company whose motto and professionalism revolves around a caring and listening attitude.
You may for instance go for an insurance cover as a professional mountaineer and get special exemptions or discounts. This could be because you’ve never sustained brutal injuries in your career as a result of sticking to commendable mountaineering ethics. Sports oriented touristic activities such Table Mountain climbing can as well not be compared to getting to the world’s highest peaks such Everest and Kilimanjaro. As a result, they should attract special premium rates depending on the safety precautionary measures in place at such a touristic spot.
Sufficient knowledge of different insurance policies enables you to know what is, and what is not included in your cover, a key aspect in obtaining the ideal life insurance for your sporting lifestyle.