Discover Ballooning Life Insurance – Get Peace Of Mind Today

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 8th December 2023

ballooning life insurance

Do you have loved ones? Do you want to protect them when you undertake your ballooning pursuits?

This concise ballooning life insurance guide provides essential information about life insurance and associate covers. Carry on reading to learn more.

Hot Air Ballooning – A Pursuit Associated with Certain Risks

From a life insurance viewpoint, there is a significant variance in factors that affect an insurance premium for balloonists.

A balloon pilot may undertake their pursuit competitively in events or commercially take paid passengers to riskier locations. It significantly differs from a tethered balloon pilot who is always less than 100 metres above the ground.

The pilot with the riskier profile may see premium loading to mitigate this risk. Sometimes, mainstream insurance underwriters may exclude your ballooning activities from a life insurance policy.

Insurance Hero works with underwriters who specialise in providing premium cover to participants of higher-risk activities. We aim to have your ballooning included as part of your life insurance cover and never excluded.

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Insurance Hero: We Include Ballooning In Your Life Cover Policy

Although Insurance Hero has relationships with specialist life insurers, this is not enough to guarantee policy inclusion. It is our detailed fact-finding questionnaire that sets us apart. Underwriters trust our rigorous process of understanding the full extent of your ballooning activities.

Our experienced brokers will run through questions unobtrusively. We aim to accurately picture your ballooning and general activities for a precise quote.

To achieve this, we ask some of the following questions:

  • Do you balloon in dangerous or remote environments?
  • At what heights do you operate?
  • Do you balloon alone?
  • Are you a commercial pilot with paying passengers?
  • How often is your equipment checked and updated?
  • Do you balloon with any underlying medical conditions?
  • Are you a tethered balloon pilot?
  • Years of piloting experience
  • The frequency and duration of your ballooning activities

Understanding the Basics of Life Insurance Cover

In a nutshell, life insurance works as follows:

  • Contact a specialist life insurer
  • Decide what you want within your life policy
  • Receive a quote outlining the cost of cover
  • Pay monthly premiums over the fixed-term life insurance policy
  • If you die, your loved ones receive a lump sum payout to keep them financially secure

Why Should I Get Life Cover?

If you have financial obligations and loved ones that would suffer economic hardship if these obligations remain outstanding if you die early, you should consider life insurance cover.

Outstanding debt may derive from credit cards, a mortgage or personal loans. Your children may go to private schools, with fees to pay. Are you the primary breadwinner? Do you maintain an expensive lifestyle? These are all points to consider.

Insurance Hero has provided life insurance cover to balloonists for years. We understand the nature of your ballooning activities and will work to ensure your policy is watertight in protecting you and your loved ones. Contact us today or click to quote button below:

Associated Life Covers: Income Protection and Critical Illness

Life insurance pays out upon the death of the policyholder. Other associated covers also provide financial security but are not dependent on your death for this to occur.

Income Protection Cover

How long does your employer pay you if you are unable to work?

Suppose you have an accident, perhaps due to your ballooning activities and cannot work for a long time. In that case, income protection provides you with a regular salary.

It allows you to focus on recovery and not have the financial worry of providing for yourself or your loved ones.

Paying a regular premium, agreed upon at the outset of a fixed-term policy, will provide financial protection if you cannot work.

A replacement salary can be put in place for as little as one month from when a claim occurs. It is typically based on an employer policy outlining how long a salary is maintained.

Critical Illness Cover

The diagnosis of a critical illness or an emergency medical procedure can be devastating. In many cases, you may never be able to work again. Providing financial security for you and your family after diagnosis provides peace of mind.

A standard list of diseases and medical procedures is agreed upon at the outset of a fixed-term critical illness policy. Non-standard conditions can also be up for inclusion at the start. For those undertaking higher-risk pursuits, these can tailor to that activity.

For balloonists, that may include common injuries associated with hard landings:

  • Bone fractures
  • Traumatic brain injury
  • Paralysis of a limb
  • Third-degree burns
  • Cruciate ligament injury

For more information on critical illness cover, contact Insurance Hero today. Our telephone number is 0203 129 88 66. Our dedicated team of professional brokers will work to ensure your ballooning activities are included in your policy and not excluded.

Ballooning Life Insurance Conclusion

The ballooning life insurance market in the UK has seen significant growth and change in recent years. As the population ages and the need for financial security increases, life insurance policies have become crucial in ensuring long-term stability for individuals and their loved ones.

The flexibility and variety of policies available now cater to a wide range of personal preferences and financial circumstances, making it easier than ever to find the right coverage for each unique situation.

When considering a life insurance policy, thoroughly research the various options and providers available.

Insurance Hero can help you make informed decisions about the type and amount of coverage that will best suit your needs. Regularly review your policy to ensure it remains relevant and adequate, as your personal circumstances and financial goals may change over time.

In today’s fast-paced world, peace of mind with a comprehensive life insurance policy can make a significant difference for you and your family.

Whether it’s ensuring that your loved ones can maintain their current standard of living, cover outstanding debts, or simply provide a financial safety net, the value of life insurance cannot be underestimated.

As the UK market continues to evolve, it is essential to stay informed about new products and regulations and to adapt your coverage as needed.

Ultimately, securing a tailored life insurance policy is a worthwhile investment in your future and the well-being of those you care about most.