Scuba diving and life insurance
- Thread starter sbroh
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It's not an issue usually until you start being classified as a tech diver. The app we have asks questions like # of dives at 100+ 150+ 200+. Cave or night dives, wreck penetrations, cave cert, etc.
I was able to get insurance with my history, but it wasn't cheap. At work, they don't even ask. I get 8x my salary without a hitch. So if I ever die, my wife stands to get about 24 bucks.
I was able to get insurance with my history, but it wasn't cheap. At work, they don't even ask. I get 8x my salary without a hitch. So if I ever die, my wife stands to get about 24 bucks.
Hi sbroh,
I recently started this process following the birth of my son. Initially I reached out to several (around 10) insurance companies for their rates. The initial estimate they would give was always comparable to the others. When I started going through the high risk activity forms (diving), there was a huge difference in the type of questions asked and rates that were quoted. In almost all cases the rate to include diving was at least double the initial quote before the diving history.
I was debating a diving exclusion when a good friend of mine suggest I try Steve Kobrin (contact below). Steve had worked with her family when they had high rates from rock climbing. Steve's specialty is people that have difficulty getting insurance so he asked a ton of questions. He was also willing to read the recently released DAN Recreational Diving Fatalities Workshop for the background and most recent data available. After this, Steve worked with several underwriters to obtain options for me.
I just underwent my physical last week so I do not have the final numbers yet. As it is, we are moving forward with a rate that is less than any quote I was offered before I mentioned my diving activities before and I did not need to do a waiver for my activities to get it.
I am a cave diver and have been doing it since the mid 90's. I am not going to plan any dives until after this process is completed and the insurance goes into action. Feel free to PM me if you want talk.
Good luck!
Steven H. Kobrin, LUTCF
6-05 Saddle River Road, #103
Fair Lawn, NJ 07410
(201) 406-9653 - client service
(866) 633-1818 - toll free
(201) 796-8142 - NJ phone
(201) 796-8244 - fax
Steven H. Kobrin, LUTCF
I recently started this process following the birth of my son. Initially I reached out to several (around 10) insurance companies for their rates. The initial estimate they would give was always comparable to the others. When I started going through the high risk activity forms (diving), there was a huge difference in the type of questions asked and rates that were quoted. In almost all cases the rate to include diving was at least double the initial quote before the diving history.
I was debating a diving exclusion when a good friend of mine suggest I try Steve Kobrin (contact below). Steve had worked with her family when they had high rates from rock climbing. Steve's specialty is people that have difficulty getting insurance so he asked a ton of questions. He was also willing to read the recently released DAN Recreational Diving Fatalities Workshop for the background and most recent data available. After this, Steve worked with several underwriters to obtain options for me.
I just underwent my physical last week so I do not have the final numbers yet. As it is, we are moving forward with a rate that is less than any quote I was offered before I mentioned my diving activities before and I did not need to do a waiver for my activities to get it.
I am a cave diver and have been doing it since the mid 90's. I am not going to plan any dives until after this process is completed and the insurance goes into action. Feel free to PM me if you want talk.
Good luck!
Steven H. Kobrin, LUTCF
6-05 Saddle River Road, #103
Fair Lawn, NJ 07410
(201) 406-9653 - client service
(866) 633-1818 - toll free
(201) 796-8142 - NJ phone
(201) 796-8244 - fax
Steven H. Kobrin, LUTCF
dallaskincaid
Contributor
I didn't start diving until after I got my life insurance...am I supposed to report that or something?
dallas-- I am not an insurance agent, but as long as you answered truthfully to the questions they asked (do you participate or plan to participate in diving, rock climbing, etc). it shouldn't be an issue.
If, when you got your insurance, you planned to dive and knew it and lied if they asked you about it, you may want to take that up with them.
If, when you got your insurance, you planned to dive and knew it and lied if they asked you about it, you may want to take that up with them.
I hope this is the case. Some random googling led me to "information" about various companies that varied widely.
If you have your insurance already then you have nothing to worry about and you do not need to report the change. If you are getting a new policy and decide to give up diving when you get the policy, then change your mind later then you are probably OK. If the insurance company proves you lied about your risks and die within 7 years of getting the policy the policy may be void or at a reduced benefit. If you forget to mention diving and survive for 7 years, nothing will matter after that. You will be covered.
I used to be a licensed life insurance agent.
I used to be a licensed life insurance agent.
Ontwreckdiver
Contributor
I have life insurance with the Co-operators. I have to pay $40.00 a month extra on top of the regular premium.
I am supposed to not go any deeper the rec limits (130 ft.). I had to fill out a 4 page questionare.
I am supposed to not go any deeper the rec limits (130 ft.). I had to fill out a 4 page questionare.
GrumpyOldGuy
Contributor
I have had a similar experience to Superlyte27. I have had 2 term policies issues since I started diving again. Once company said it made no difference as long as I was rec not tech, the other about $50 per year. On the other hand, after my lab test showed I had some pre-diabetic sugar levels, it went up another $200 per year.
Bottom line, there are tons of life insurance companies around. A few may really nail you for for high risk based on rec diving, but there are plenty that don't. Shop around, rates vary a lot.
Bottom line, there are tons of life insurance companies around. A few may really nail you for for high risk based on rec diving, but there are plenty that don't. Shop around, rates vary a lot.
Ozwald
Contributor
As an agent for the co-operators up here in Canada I always tell my clients to max out their group coverage they have at work. In most cases is much cheaper and usually automatic issue up to certain limits, usually 3-5 times your annual salary. The various life insurance companies have very different underwriting procedures so explore a number of them before you sign on the dotted line. You could save yourself a lot of $$.
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