Exceptions to Life Insurance Coverage for Diving Accidents

[ScubaWanderer]

Hey folks!

I've got the exciting news that my wife and I are expecting our first kid. This is making me think about things I've never thought about before... including Life Insurance.

I want to make sure that in the event of an accident my family will be taken care of. I've got a few diving trips planned next year, including one in Cocos and a shark dive in Florida and Bahamas. I'm wondering if there is any type of accidents DAN excludes from their Life Insurance policy. I've read through the Benefits booklet and marine attacks do appear to be covered. I'm wondering if I'm missing anything.

What about in the event when waters are chummed? Anything else that could result in DAN denying Life Insurance coverage in the event of an accident? Sorry if I'm sounding paranoid (I'll admit I am a bit of that now).

Thank you!

 

[Bubblesong]

Congratulations! Baby! So blessed!
I think unless you leave a note saying, “Goodbye cruel world”, no amount of risk taking is going to cancel your DAN insurance since SCUBA is considered inherently risky anyway. For regular insurance you may need an extra payment “rider” to cover certain activities, like Scuba, motorcycles, parachuting, protesting for free speech in Massachusetts etc.

 

[vam]

Congrats! I emailed my life insurance and asked them when I started actively diving. They said that scuba was no problem for my policy, but I would just check with your provider to be sure. I've spoken with other people who said it wasn't covered or that they had to pay extra for the coverage. My insurance is with FaithLife Financial in Canada. I also have DAN coverage for medical.

 

[Hoag]

Read your policy carefully. That is the only place where you will find the right answer. Policies may vary from one to another so find out exactly what yours says. Do not phone your insurance company, if you need to ask a question, send an email. Get your response in writing.

I once knew an Air Force Officer who had a life insurance policy that was "void if the policy holder dies as a result of an act war whether declared or undeclared". Kind of a big loophole for him to have in his policy given his profession. If he hadn't read the policy himself, he never would have found this and corrected it. (He had the clause removed and it only cost him an extra few dollars per year.)

Oh, and congrats on your growing family!

 

[ScubaWanderer]

Thank you for the response! I called DAN and they confirmed that dangers from marine life are covered under their policy. I will take your advice and send them an email describing my planned activities to make sure they're in compliance with their policy. Thank you!

 

[CuzzA]

DAN is great for accident coverage, but they are nobody's competition when it comes to life insurance (which is actually not coverage provided by them), especially when the policy is medically underwritten. You should seriously consider your own policy. If you're interested send me a pm and I will point you in the right direction for scuba friendly life insurance companies.

 

[wildbill9]

Life insurance, they bet you will live.....you bet you will die. I will bet on mys6elf every time. No life insurance for me. My motto is when I die my last check will bounce

 

[Superlyte27]

DAN'S life insurance is actually crap. It's bracketed, so as you age, the premiums go up.

Get a good policy through a good carrier. In Florida, once the policy issues, it doesn't matter how you die, your family is getting paid (unless you kill yourself in the first two years).

 

[CuzzA]

DAN'S life insurance is actually crap. It's bracketed, so as you age, the premiums go up.

Get a good policy through a good carrier. In Florida, once the policy issues, it doesn't matter how you die, your family is getting paid (unless you kill yourself in the first two years).

Yes, IIRC every five years the premium increases. The premium is high to begin with on that group policy and it's medically underwritten. Crap to say the least.