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Life Insurance for those who like to Bungee Jump!

Life Insurance for Bungee Jumpers.

Usually, when someone thinks about purchasing a life insurance policy, the only thing that they think “might” affect their chances at being able to qualify for coverage is that they’re either:

  •  too old for coverage,
  • too sick for coverage,

Or they can’t afford the coverage they’re looking for.

But the truth is…

There are a lot more factors that will come into play when trying to determine who will and won’t be able to qualify for coverage. And one of those “factors” is going to be how you choose to spend your weekends!

Now… 

If you’re like many American’s and choose to spend most of your weekends sitting on a couch and snacking on way too many unhealthy treats, chances are your overall health is going to reflect this unfortunate situation which will, in turn, most likely have a negative impact on the outcome of your life insurance application.

But what a lot…

Of folks may not be aware of is that sometimes the opposite can be true as well. You see, if instead of pursuing a boring, sedentary lifestyle centered around your TV, you choose to live an active, adrenaline-filled lifestyle like those who like to go Bungee Jumping, you too may be discriminated against by the life insurance industry.

This is why…

We wanted to take a moment and discuss some of the most common questions that we get from folks applying for life insurance as active “bungee jumpers.” Questions that will be answered here in this article will include:

  • Can I qualify for life insurance if I regularly Bungee Jump?
  • Why do life insurance companies care if I like to Bungee Jump?
  • What questions will insurance companies likely ask me?
  • What rate can I qualify for?
  • What can I do to help insure I get the “best” rate for me?

So, without further ado, let’s “dive” right in!

Can I qualify for life insurance if I regularly Bungee Jump?

Yes, individuals who like to Bungee Jump can and often will be able to qualify for a traditional term or whole life insurance policy. The only problem is that not all life insurance companies are going to view one’s passion for Bungee Jumping (or other related activities) as an acceptable risk. This is why some may choose to either DENY your application or place some kind of “limitation” regarding what your life insurance policy will and won’t cover.

Why do life insurance companies care if I like to Bungee Jump?

Aside from the obvious reason why a life insurance company might begin to get a little nervous about the fact that you like to go Bungee Jumping, participating in this sport can put yourself in all sorts of other “precarious” spots in your pursuit of this sport.

After all…

Many of the “best” Bungee Jumping locations don’t happen to be located in the safest and accessible locations, which means that even though the “jump” itself might be super safe, getting too and from your jump may not. This is why most life insurance companies are going to want to ask you a series or questions about your Bungee Jumping activities before they will be willing to make any decisions about your life insurance application.

What questions will insurance companies likely as me?

Common questions you may be asked about your Bungee Jumping may include:

  • How often do you go Bungee Jumping?
  • Do you belong to any Bungee Jumping clubs or organizations?
  • How “high” do you usually jump?
  • Is there a place where you routinely jump? Or do you travel all around?
  • Have you ever Bungee Jumped outside of the United States?
  • Do you participate in any “other” dangerous activities?

With this information in hand, we’ll usually have a better idea about what kind of role your Bungee Jumping activities will play in determining what “kind” of life insurance policy you may or may not be able to qualify for.

What rate can I qualify for?

Up until this point, we’ve really talked about how dangerous Bungee Jumping can be and how many life insurance companies may choose to participate in this sport as a reason to discriminate against you.

What we haven’t mention…

Yet, it is statistically speaking that Bungee Jumping is actually a pretty safe sport and/or activity.

And how chances are, if this is something that you choose to do, it’s probably safe to say that you’re in reasonable condition because after all, not too many people with known Cardiovascular conditions would likely want to expose themselves to these types of adrenaline “rushes”.

After all…

According to the National Center of Health Statistics, the average Bungee Jumper only faces a 1 in 500,000 chance of actually dying due to an accident. Which may seem kind of high, when compared to other statistics including:

  • 1 in 103 chance of dying in a car accident
  • 1 in 1,121 chance of drowning
  • 1 in 4,060 chance of dying in a bicycle accident
  • 1 in 7,770 chance of dying of sunstroke,

It’s actually a wonder why ANY life insurance company would be concerned about this activity at all!

But…

All we can tell you is that some companies will care which is why you’ll want to make sure that before you DO apply for a traditional life insurance policy, you make your agent fully aware of your Bungee Jumping activities so that he or she can guide you in the right direction. This way, you’ll have a much better chance of locating one of the companies that aren’t going to discriminate against you.

And while you’re at it…

One thing that you may also want to consider doing is purchasing an Accidental Death and Dismemberment Policy of ADD Policy which would allow you to add on additional coverage in the event that you die from an accident as well as provide coverage to your family in the event that you suffered from an accident, but DIDN’T die (be sure to read about any and all exclusions).

*** Important Note ***

While Accidental Death Policies are designed to provide coverage against dying in an accident, many will have exclusions for deaths caused by participating in dangerous activities such as Bungee Jumping. For this reason, please be sure that you confirm with the insurance company directly that you would be covered if you died while jumping.

Which brings us to the last topic that we wanted to discuss here today, which is…

What can I do to help insure I get the “best” rate for me?

In our experiences here at IBUSA, we’ve found that usually, the “best” approach in helping someone find the “best” life insurance policy for them is to first:

  • Fully understand what an individual is trying to achieve by purchasing their life insurance policy.
    • Are you looking to:
      • Cover the cost of a mortgage?
      • Replace lost wages?
      • Protect a child or spouse?
      • Or just cover one’s final expenses?
  • Then provide one with plenty of options to choose from so that you’re not limited to just one or two different options.

This is why…

We here at IBUSA choose to work with so many different life insurance companies so that when it comes time to help you decide “which” life insurance company is going to be the best for you, we don’t have to apply a…

“One Size Fits All”

Approach. Instead, we can make dozens of different life insurance companies compete for your business.

So, what are you waiting for? Give us a call today and experience the IBUSA difference.

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