Extreme Sports Life Insurance & Income Protection
This short guide endeavours to explain why you should take out life insurance. If you have loved ones, read on for how you can enjoy your extreme sports pursuits and still protect your family.
How Does Hazardous Pastimes Life Insurance Work?
Life insurance provides a cover amount payable to designated beneficiaries should the policyholder die. A cover amount is agreed at the policy outset and is funded by paying regular premiums over the fixed-term duration of the policy. The provision of life cover for extreme sports occurs once the level of participation is agreed and confirmed.
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Who Should Consider Life Insurance Cover?
Do you have financial commitments such as a mortgage, personal loans or credit card debt? Do you have a family who would suffer economic hardship should you die? If your answer is yes, consider taking out life insurance cover.
What Are Considered Extreme Sports By Life Insurers?
There are a vast number of activities that have extreme sports classification. Life insurers typically have a list of extreme pursuits on their application form. This list has continued to grow as new high-risk activities continuously evolve.
Diverse pursuits include:
- Cave diving
- BASE jumping
- Big wave surfing
- Rock climbing
- Off-piste snowboarding
Mainstream insurers, depending on the activity, will look to either exclude an extreme pursuit from a life insurance policy or include it but with certain restrictions.
Specialist insurers fill this gap and look to provide life cover where extreme sports are included within the policy with no restrictions and not excluded.
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Insurance Hero is a broker with extensive networks of underwriters specialising in extreme sports life insurance cover. Contact us today on 0203 129 8866 for a fast and free quote.
Insurance Hero – Get A Correct Quote First Time, Every Time
If you participate in extreme sports, it is essential to declare the extent of your activities honestly during any questions.
The team at Insurance Hero is well versed in working with you to understand the extent of your extreme pursuits in an unobtrusive, friendly manner. We work with underwriters, specialising in high-risk activities. They trust us to provide accurate information through a detailed fact-finding questionnaire.
We want your extreme pursuit included within your life cover and not excluded.
Questions that we will ask include but are not limited to the following:
- Does your extreme sport take place at great height or in hostile and remote terrain?
- Do you participate as part of a group or alone?
- How often and for how long do you undertake your high-risk activity?
- Do you belong to a recognised professional association?
- How many years of experience do you have?
- Do you participate with any underlying medical conditions?
Associated Life Covers – Critical Illness and Income Protection
Two other life insurance covers provide protection that is not dependent on death. They are critical illness and income protection cover.
Should you no longer be able to work due to the diagnosis of a disease or medical procedure, critical illness cover provides a lump sum payout.
Regular premiums paid in over the policy fixed term will provide a cover amount, paid out should you survive ten days after diagnosis. The plan offers financial peace of mind for both you and your dependents.
A tailored policy accounts for common illnesses associated with your extreme sport. For example, skydiving has a high risk of bone fracture, which you can specify at the policy outset.
Critical illnesses included in a standard policy include diseases as diverse as:
- Traumatic brain injury
- Spinal stroke
- Liver failure
- Progressive supranuclear palsy
- Multiple system atrophy
- Heart valve replacement or repair
- Structural heart surgery
- Heart attack
- Kidney failure
- Parkinson’s disease
Income protection works slightly differently to life insurance and critical illness cover. It assumes that you will eventually get back into the workplace if you are unable to work due to an accident or illness.
A salary is payable after a claim. The salary payment can kick in from as little as one month after an income protection claim
You should consider income protection cover if you have financial commitments and your family would suffer financial difficulty should you be unable to work.
Financial obligations include but are not limited to, the following:
- Equity release loan
- Credit card debt
- Personal loan
- Car loan
- Hire purchase agreement
- School fees
Why not have the peace of mind that if you cannot work because of an extreme sports accident, you will still receive a salary allowing you to concentrate on getting better.
Contact Insurance Hero today for a no-obligation quote. We want to help you get water-tight income protection cover that will protect you and your dependents. Our direct number is 0203 129 8866, where one of our professional team will assist you with your requirements.