What happens if I have life insurance and die while skydiving? Most people who buy life insurance seek to ensure financial protection for their family in case they pass away. They pay for a potential risk that may occur in the future. On the other hand, the business of insurance companies is to calculate risks to know how much they should charge their clients in premiums.
A 70-year-old person will not get the same life insurance premium as a 20-year-old. Logically, the risk of the former is higher, and therefore their premium will be higher.
The same applies when insuring someone who practices acrobatic skydiving in relation to a professional musician whose hobby is playing cards. Undoubtedly, the former will obtain a more expensive premium.
A simple way to explain how insurance companies calculate the potential client’s risk is by analyzing different aspects of their life up until the moment they sign the contract that will protect their family in the future.
This means that if the musician, who already signed a life insurance policy, decides to start skydiving, the premium of their policy should not change for the time being.
If this musician, who is now a skydiving enthusiast, has an accident and dies during one of their jumps, their coverage will not be affected. The family will receive the agreed-upon death benefit, as long as the insurer determines that the musician did not practice skydiving regularly before signing the policy, nor had the intention of doing so.
In summary, if you have a life insurance policy, you can practice all the hobbies you want without worrying that your family may be left unprotected. However, if you engage in a risky activity or did so in the past, you must inform the insurer before signing the contract.
If you have any doubts, ask your Univista Insurance agent, and they will explain the specific consequences of your hobby on your policy. What happens if I have life insurance and die while skydiving?
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