Think I found Life Insurance....

[Spatula 0]

Ok, I've been searching for a policy that wasn't going to rape the sh&t out of me for jumping. Banc of America (Investments side of Bank of America) sounds decent, but I'm curious on everyone's thoughts of the rep's choice of words.....Basically we went through what I'm looking for ($$$ and years), gave her the basics (age/sex/smoker/family medical history, etc), then she asked about additonial riders/coverage....I said in these exact words " I'm considering taking up skydiving recreationally, is that sport covered under this term policy? Are what are the exclusions of this policy"? She replied "The only exclusion was suicide in the first 2 years. With regards to skydiving, if you tell me your not currently skydiving when the policy is taken out....your covered...". I then said "no matter how many jumps I make, if I die, I'm covered".....she replied "your covered"......

So how does that sound to you all? It seems fishy to me. She told me that I can go through with the policy (medical checks) and then I have 30 days from the onset of the policy to cancel. In that time if I choose to take the policy to a lawyer to read the fine print thats up to me.

So it' almost sounds too good to be true. What do you think?


Thanks

[Thanatos340 1]

Get a copy of the Policy and READ it completely.

Most Policies also do not cover flying in any form of Private Plane and require that you take out a "General Aviation" Rider.

Insurance Companies do not like to pay claims at all. If there is a way they can get out of paying a Claim they will take it.

Also DO NOT lie to them. If something happened and your family tried to cash that policy, They would look at your history. If you have already made a few jumps and told them you have not, They could consider that Fraud and not pay the claim.

[f1shlips 2]

If it were me, I wouldn't of said anything. Just take the policy to a lawyer and ask him if there's anything about excluding skydiving.

If you don't say anything and there's nothing in the policy about skydiving, then I think you are golden. (IANAL of course)

--
drop zone (drop'zone) n. An incestuous sesspool of broken people. -- Attributed to a whuffo girlfriend.

[Spatula 0]

I'm going to take it to a lawyer regardless. I didn't tell her that I have 4 jumps, I inquired that if I take up skydiving recreationally how the policy would cover it. I feel obligated to say that I've made 4 jumps, but none in the last year or so. This is such a tender issue....makes it frustrating.

[mr2mk1g 10]

Quote

if you tell me your not currently skydiving when the policy is taken out....your covered

She probably wouldn't have been able to hear you if you were skydiving at the time - wind noise on the phone and all.

On a serious note - IGNORE your 4 jumps. A non-skydiver will consider you to have already taken up the sport and will not understand that you are not a sport skydiver yet.

If your 4 jumps were over a year ago then from the sports point of view you are going to have to start from scratch. You are in virtually the same position as someone who has never jumped from a training point of view.

As I said though, the insurer won't get that concept – 4 jumps is 400% more than they will have done. Your conscience should be clear if you don't mention them.

[Spatula 0]

Good point! Thanks!

[PrairieDoug 0]

The USPA sponsors an AD&D plan that is quite competitive in terms of costs and benefits. Check it out. I heard about it through a USPA mailing to members.

[LouDiamond 1]

Do a search on insurance on the site. This was covered a while back and someone actually found a comapny that covered skydiving at a reasonable price.

"It's just skydiving..additional drama is not required"
Some people dream about flying, I live my dream
SKYMONKEY PUBLISHING

[flyingangel 0]

As someone who is soon to be a lawyer and have worked in the Insurance law industry for the past 5 years, I'd caution you to take the policy to a lawyer to read the fine print. Your insurance adjuster has said that if you are not currently skydiving. I take that and I'm sure the insurance company will take that to mean never skydived before. If the insurance company did want to deny your claim, they have adequate means to do so as technically you did not fully disclose your situation to them when signing the policy. You are not thinking about taking up skydiving recreationally, you already have. Even if you've only done 4 jumps, that's still 4 jumps. Be careful, insurance companies can be sneaky, but remember lawyers can be sneakier!

Good Luck!

[Spatula 0]

Yeah I know....I just talked to them again to clarify and you are correct....4 jumps is 4 jumps..is higher premium...I've searched the site a bunch of times, any point outs to that company would be appreciated....

[LouDiamond 1]

Quote

I've searched the site a bunch of times

try Skydiving insurance for your search string. I pulled up 42 pages of stuff. Just taking a quick look I found American General and Prudential being listed as skydiver friendly. I seem to remember a different company being mentioned that had a realy good plan and rate so keep looking in those threads.

"It's just skydiving..additional drama is not required"
Some people dream about flying, I live my dream
SKYMONKEY PUBLISHING

[Spatula 0]

Wilco thanks.

[white_falcon 0]

Are you in Florida? Have you talked to American General (an AIG company, only the largest financial company in the world).

I AM an insurance agent, although NOT a life agent (that will be remedied by year end). The question on the app will be, "are you now, or do you intend to in the future".

Answer the question HONESTLY!!!

I personally have a $750k policy for $1500 / yr. if that helps any.

Scott