Life Insurance for Scuba Divers by a Scuba Diver!

[pinkpajamas]

8. Lying. Sure you can apply for coverage and lie. If you do just make sure that you don't die for 2 years. Also make sure your agent is not your best buddy who knows you dive. Also make sure that your wife/ husband knows you lied so that she / he has no expectations of getting any money should you buy the farm. Essentially don't do it.

So what happens if you do lie on your application? My boyfriend took out a policy a couple months ago and didn't exactly lie, but also didn't give the agent complete info - like how deep he dives and wreck diving and using a rebreather, stuff like that. So if he dies at 90 feet when he said he doesn't go that deep, will they not pay out?

 

[Superlyte27]

Depends on the state, but worse case scenario... Not in the first two years of the policy. If he were to die in 90' of water, best case scenario they would pay what your policy would have paid out what your premiums would have purchased had you told the truth.

So... Lets say you were paying 40 bucks per month as a non diver which bought you 100k in life insurance, but as a technical diver 40/mo would have only bought you 50k in life insurance. If you were lucky, they'd pay you 50k instead of the 100k because that's all that your $40 per month would have purchased had you been honest.

Now, after 2 years, it doesn't matter. You can swim down to 600' and blow your head off with a shotgun while a Great White is nibbling on your legs, and the insurance company will still pay.... at least in Florida.

 

[flip_eat]

I agree with Superlyte, you get what you pay, most probably. But they could also cancel the policy if they want as you know insurance companies have their own rules they implement.

Anyway, I got my life insurance quote from yepmarket.com online since I don't have time to shop around.