If you’re a paraglider looking for life insurance you are no doubt interested in paragliding life insurance eligibility. Life insurance for paragliding is available, despite this being a dangerous recreational activity.
Paragliding is one of many thrill-seeking activities that life insurance companies will want to know more about before issuing you a life insurance policy. Just because you paraglide doesn’t mean you will not be able to purchase a life insurance policy to protect your family, loved ones, home, and business.
What are the insurance companies interested in my paragliding?
Insurance companies are concerned about activities that place potential clients at a higher risk of death or injury. Despite this, we understand that paragliding or hang gliding can be a safe activity when done with properly maintained equipment, proper safety training, and an experienced pilot. However, accidents still happen.
If you are new to the sport of paragliding, your risk of an accident is higher due to your inexperience level. Even experienced pilots will have accidents once in a while due to equipment failure or complacency.
What are the risks of paragliding?
There is an average of 3 fatalities annually resulting from paragliding with its 33,000+ pilots.
Analysis of these accidents suggests that many of these accidents are due to inexperienced paragliders, individuals who failed to follow safety and training procedures, and individuals who were flying in inappropriate or dangerous conditions.
Paragliding can be a safe recreational activity if performed by properly trained individuals who are following safety procedures and flying in the right weather conditions.
Can I get life insurance for paragliding?
Life insurance for paragliding is available. Your paragliding life insurance eligibility will be determined by a number of factors.
Life insurance companies stay in business by managing risk. People who participate in dangerous hobbies are at a higher risk than people who do not participate in dangerous hobbies. When issuing life insurance policies, life insurance companies always factor in dangerous hobbies.
If you are paraglider, you will likely have to pay more for life insurance than if you did not participate in the sport of paragliding.
What do the insurance companies need to know about me if I am a paraglider?
Let’s start with the basics. For the insurance companies to consider you for a paragliding life insurance policy they will want to know other things about you before issuing a life policy.
All life insurance coverage starts with a life insurance application. This application must be filled out completely to apply for coverage. They will want to know basic information such as:
- Other medical conditions
- Health history and information
- Medications prescribed
The insurance companies may also want to know the following about your paragliding activities in order to better assess your paragliding experience level and life insurance risk:
- Are you a professional or an amateur?
- How often do you fly your paraglider?
- What altitude do you fly your paraglider at?
- Are you properly trained?
- Where do you paraglide, and over what terrain?
- Do you operate a non-powered glider or powered glider?
With the above information, insurance companies will be able to properly assess the risk you present to the life insurance company and determine what your life insurance will cost.
What type of life insurance should I purchase?
If you want life insurance as a paraglider to cover you only during their working years, a term policy would be an ideal choice. If you want life insurance coverage to protect you for your entire life, a permanent insurance policy such as a whole life or universal life insurance policy would be appropriate.
Term life insurance is like auto insurance. You pay a monthly premium, and when you die the life insurance company will pay your family a death benefit. If you stop paying your life insurance premium, life insurance coverage ends. At the end of the term for your life insurance (often 15, 20, or 30 years) you will not get your money back.
Permanent life insurance such as whole life or universal life insurance builds up cash value that you can access while you are still living.
Term insurance costs less than whole life or universal life insurance.
There are “hybrid” life insurance policies that include a base level of whole life or universal life insurance, and an additional “rider” of term life insurance. These policies are great options for those wanting a higher amount of coverage in their working years, and permanent life insurance protection with access to cash value later in life.
What will my paragliding life insurance cost?
Your life insurance cost for paragliding will be determined by the information mentioned above. We will shop around for you based on the information you give us to get you the best pricing available in the insurance industry.
Most insurance companies, if you are in good health, will issue a life insurance policy based on a Standard to Standard Plus Rating with an additional fee assessed due to your paragliding activities.
Some companies may assess and an additional fee of $2.50 up to $5.00 per $1,000 worth of coverage if you are paraglider. It is essential to find an insurance agency that will shop around for you to get you the best rate. There is no sense in overpaying for paraglider life insurance.
Life insurance for paragliders is available; though it may cost you a little bit more money than if you did not paraglide at all.
If you are a paraglider, call us to help you understand your paragliding life insurance approval options.
At Life Wealth Win, we specialize in healthy to high-risk life insurance cases. We can help you understand your options for life insurance for paragliders.
We work with clients across the nation to get the best life insurance rates possible. If you are a paraglider, we can help you get the best life insurance rates.