Chris-Ottawa 0 #1 January 29, 2007 Hey everyone, Just found out some information that I'm sure others would be happy to know. I am in ONtario Canada, so this may not apply elsewhere. I just spoke with my insurance company because I got a lower car insurance quote elsewhere and wanted to see if they could match it. Since they couldn't, she said she'd not recommend cancelling the life insurance if I was going to cancel my car insurance (which I am). Obviously a business decision, but that got me thinking while I had the company on the phone... Is skydiving covered? Is there a 2 year "probation" period etc... So I asked... At first I was vague and said "When I filled out the form, there were a few things that I said I do not do, that I now do, how does that work for coverage?". She replied and said once the policy is underwritten and signed, that is that. She said they realize people's lives change and they can't legally change a policy if your life changes. She said, for example, if you became a rock climber or Hang glider pilot, or even started smoking after answering the questions on the policy, it doesn't matter. So I though, ok, so they can't change the policy, but they surely don't have to pay out if I die skydiving when I said I don't. So I told her I skydive, and asked if the unfortunate did happen while skydiving, would my life insurance still pay out. She said Absolutely. She said the only thing about taking out a life insurance policy that has a "2 year time limit" is suicide. For obvious reasons, they don't want you to take out a life insurance policy only to find your body hanging from the rafters in your home a week later, and having the policy paid out to your crack addicted boyfriend who still lives with his parents... (<--Too graphic? Nah..) The catch is this though...when you sign up for the policy, and you answer that you do not skydive, if they can prove that you were a skydiver at that point...no payout. Luckily, I started the policy Aug 2005, did my first tandem Oct '05 and got licensed in May of 2006. So I didn't lie about anything. Saweeeet! She also said that if you answer "YES" to the skydiving question...the policies jump to an astronomical price. Enjoy. Chris Now all I have to do is get them to tell me this in writing....."When once you have tasted flight..." Quote Share this post Link to post Share on other sites
