BlindBrick 0 #1 July 13, 2006 Just got done meeting with my State Farm agent. He told me the underwriter assessed a $1 per $1k of coverage rider for skydiving. I seem to recall that some jumpers here are with State Farm and have a much lower rider. My agent feels that the excessive rider is due to an underwriter who's unfamiliar with the sport. He believes that if we can get her info on State Farm policies where the skydiving rider is lower, then the underwriter will lower my rider. If anyone , who has State Farm life insurance with the skydiving rider, could PM me, I'd sure appeciate it. -Blind"If you end up in an alligator's jaws, naked, you probably did something to deserve it." Quote Share this post Link to post Share on other sites
jumpwally 0 #2 July 14, 2006 Coverage that does what? Details....smile, be nice, enjoy life FB # - 1083 Quote Share this post Link to post Share on other sites
StreetScooby 5 #3 July 14, 2006 Good luck. Let us know how this works out. The best quote I could get was $2 per $1K. That jump premium is almost as much as I spend jumping.We are all engines of karma Quote Share this post Link to post Share on other sites
squirrel 0 #4 July 14, 2006 i dont have life insurance...because i am betting i will live. ________________________________ Where is Darwin when you need him? Quote Share this post Link to post Share on other sites
AFFI 0 #5 July 14, 2006 I have been planning for an early retirement, and I haven’t been saving… Quote Share this post Link to post Share on other sites
kelpdiver 2 #6 July 14, 2006 with the uspa annual death rate at about 1 in 1000, the $/1000 surcharge seems pretty spot on. Quote Share this post Link to post Share on other sites
headoverheels 333 #7 July 14, 2006 Is that $1 per year per $1k? If so, doesn't look bad to me. Of course, my coverage through my professional society had no exclusions and no extra payment. Quote Share this post Link to post Share on other sites
StreetScooby 5 #8 July 14, 2006 Quote Is that $1 per year per $1k? If so, doesn't look bad to me. If you have a 1MM policy, and you're paying this, your jump rates have doubled.We are all engines of karma Quote Share this post Link to post Share on other sites
fmmobley 0 #9 July 14, 2006 You are lucky you could get it at all. After I started jumping my insurer would not renew my policy.... Marion Quote Share this post Link to post Share on other sites
StreetScooby 5 #10 July 14, 2006 Quote You are lucky you could get it at all. After I started jumping my insurer would not renew my policy. Yep. They won't even give you an exemption, either. They figure, "If he's skydiving, what ELSE is he doing?"We are all engines of karma Quote Share this post Link to post Share on other sites
BlindBrick 0 #11 July 14, 2006 Quote Is that $1 per year per $1k? If so, doesn't look bad to me. No, it's per month. My base quote was ~$50 a month for $200K on a 20 yr term. After the rider, it's now over $250 -Blind"If you end up in an alligator's jaws, naked, you probably did something to deserve it." Quote Share this post Link to post Share on other sites
pirana 0 #12 July 14, 2006 QuoteQuote You are lucky you could get it at all. After I started jumping my insurer would not renew my policy. Yep. They won't even give you an exemption, either. They figure, "If he's skydiving, what ELSE is he doing?" I'm in health insurance, but do know a bit about life. Most won't insure at all; and with the premium the are charging for your rider, it's their way of saying they'd rather not insure you either." . . . the lust for power can be just as completely satisfied by suggesting people into loving their servitude as by flogging them and kicking them into obedience." -- Aldous Huxley Quote Share this post Link to post Share on other sites
airtwardo 7 #13 July 14, 2006 Just got done meeting with my State Farm agent. He told me the underwriter assessed a $1 per $1k of coverage rider for skydiving. *** I was with a company 20 years ago that tried to attach a similar rider to a term policy I had with them at that time. I spoke with an underwriter with that company who told me if I could prove I was in fact a 'licensed expert - D" jumper with 1000 jumps or more there would be no additional fee. I did and there wasn't... On another note, I don't know about 'your' policy or the state insurance laws where you live...but is some instances on a life policy, if it isn't specifically mentioned you don't have to include that you are a skydiver...and (again in some states) even if it IS included, and you don't admit to it, after one year of the policy starting, you are covered anyway...they basically have a year to investigate the information given...smoker, pilot, jumper etc. ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
StreetScooby 5 #14 July 14, 2006 Quote On another note, I don't know about 'your' policy or the state insurance laws where you live...but is some instances on a life policy, if it isn't specifically mentioned you don't have to include that you are a skydiver...and (again in some states) even if it IS included, and you don't admit to it, after one year of the policy starting, you are covered anyway...they basically have a year to investigate the information given...smoker, pilot, jumper etc. All insurance companies that I know of have a general "hazardous sports" question, which includes scuba and skydiving, etc. If you deny, they have 2 to 3 years depending upon the state to investigate. Now, it's ok to change your mind after you got the policy and not tell them. But, if they can prove "willful misrepresentation" (i.e., you were active at time of policy issue) they may not have to pay even after 2-3 years (depends upon the state I'm told).We are all engines of karma Quote Share this post Link to post Share on other sites
airtwardo 7 #15 July 14, 2006 (depends upon the state I'm told). *** It does... And I worked as a licensed insurance investigator for a while after college...much of it is up to interpretation. In the state where I worked some policies had a hazardous 'occupation' clause...but for it to actually BE an occupation, you have to make 25% of your annual income doing it. (?!) Also had on guy argue that he didn't consider aerobatic competition and hazardous and that's why he didn't list it... BUT the IAC does so he got cancelled. ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
pirana 0 #16 July 14, 2006 QuoteQuote On another note, I don't know about 'your' policy or the state insurance laws where you live...but is some instances on a life policy, if it isn't specifically mentioned you don't have to include that you are a skydiver...and (again in some states) even if it IS included, and you don't admit to it, after one year of the policy starting, you are covered anyway...they basically have a year to investigate the information given...smoker, pilot, jumper etc. All insurance companies that I know of have a general "hazardous sports" question, which includes scuba and skydiving, etc. If you deny, they have 2 to 3 years depending upon the state to investigate. Now, it's ok to change your mind after you got the policy and not tell them. But, if they can prove "willful misrepresentation" (i.e., you were active at time of policy issue) they may not have to pay even after 2-3 years (depends upon the state I'm told). Yep, one of the things most people don't know about insurance is that it is, for the most part, regulated at the state level; there can be 50 different ways of doing just about everyhting. In MN, providing false information is called material misrepresentation, and there is no limit on the look back period. IIRC, the hazardous sports question here includes skydiving, scuba, rodeo, mountain climbing, cave exploring, and any motorsports. Nothing about being a lion tamer though." . . . the lust for power can be just as completely satisfied by suggesting people into loving their servitude as by flogging them and kicking them into obedience." -- Aldous Huxley Quote Share this post Link to post Share on other sites
brianemerson 0 #17 July 14, 2006 look up Northwestern Mutual... Just got a 1M policy... no premium for skydiving. Quote Share this post Link to post Share on other sites
SWATcop 0 #18 July 15, 2006 I just signed a policy with Dive Alert Network for 200K @ $177.60 for six months. The policy has NO exclusions.Kevin Muff Brother #4041 Team Dirty Sanchez #467 Quote Share this post Link to post Share on other sites
Zoso 2 #19 July 15, 2006 I just got approved for $100,000 as a skydiver (non-professional skydiver) for $31.46 per month. It is from Banner Life who I learned about from USPA. [url] http://www.skydiverslifeinsurance.com PM me if anyone has any questions. Gary Quote Share this post Link to post Share on other sites
dmetz 0 #20 July 17, 2006 All good stuff here; you're all answering a lot of my questions too, so keep it coming._________________________________________ "If a vegetarian eats vegetables, what does a humanitarian eat?" Quote Share this post Link to post Share on other sites
firstime 0 #21 July 18, 2006 in New York, it doesnt matter how much you don't devulge on the application because after 2 yrs they HAVE to PAY. State Law (2 yr contestability) Quote Share this post Link to post Share on other sites
pdj6p 0 #22 July 18, 2006 I don't know if you could get the insurance that I have through 5 star A.F.B.A. but for 250k I pay $6.50 a month. The only thing that they would exclude for is suicide within the first two years of coverge. Hmmm it's been more that 2 years Death is so permanant, and I'm just not ready for that kind of committment. Quote Share this post Link to post Share on other sites
DrewEckhardt 0 #23 July 18, 2006 QuoteJust got done meeting with my State Farm agent. He told me the underwriter assessed a $1 per $1k of coverage rider for skydiving. If you have a group plan at work you probably want to use that. Mine costs me $12.44/month for a $500,000 policy without exclusions. Quote Share this post Link to post Share on other sites
freakydiver 0 #24 October 23, 2006 Do you have a web site for Dive Alert Network - having difficulties locating... -- (N.DG) "If all else fails – at least try and look under control." -- Quote Share this post Link to post Share on other sites
stratostar 5 #25 October 23, 2006 www.skydiverslifeinsurance.com you can't pay for kids schoolin' with love of skydiving! ~ Airtwardo Quote Share this post Link to post Share on other sites
