Praetorian 1 #1 March 23, 2004 Ok so I Just got the policy back and they specifically excluded skydiving .. did I ask them to? NO I have no family (of my own) I have good health coverage through work which makes no exemption for any reason for illness/injoury I'm only interiested in term life insurance so should I die I won't stick my parents with my school loans/car any ideas? Is there a skydiving insurance policy just for skydiving? is it a good(ok decent) deal? I mean damn the only reason to have the insurance is to take care of my responsibilities in this world if I go suddenly so an insurance policy with a skydiving loophole in it isn't any good to me Good Judgment comes from experience...a lot of experience comes from bad judgment. Quote Share this post Link to post Share on other sites
FrogNog 1 #2 March 23, 2004 Whether something is a good deal is up to you. If you get what you want and don't have to give up too much for it, then it's good enough for you. I think it was mean of them to put in the skydiving exclusion, but it probably wasn't personal. (I.e. they are being impersonally rude, just like they are to everyone else.) Deep breaths, eat something yummy, move on. I don't know where you would go to find other coverage, but surely there must be someone. Which reminds me I need to see if they would cover my main if I lose it in a cutaway.... -=-=-=-=- Pull. Quote Share this post Link to post Share on other sites
Jib 0 #3 March 23, 2004 I think USPA has one from one of the Chubb companies. http://www.uspa.org/membership/index.htm -------------------------------------------------- the depth of his depravity sickens me. -- Jerry Falwell, People v. Larry Flynt Quote Share this post Link to post Share on other sites
tombuch 0 #4 March 23, 2004 Quote I'm only interiested in term life insurance so should I die I won't stick my parents with my school loans/car any ideas? Check your loans. They may include insurance to cover the unpaid balance if you die. The car loan should also be protected by the actual asset, so your parents could sell it at market value and repay the loan. In general, term life insurance isn't a "good deal" for young people. Of course if you really want the coverage, then keep searching. Tom BuchananTom Buchanan Instructor Emeritus Comm Pilot MSEL,G Author: JUMP! Skydiving Made Fun and Easy Quote Share this post Link to post Share on other sites
slug 1 #5 March 23, 2004 Maybe verify if you parents are legaly liable for your debt's. If not just self insure your burial expenses. FWIW we don't carry any Life insurance. No kids R.I.P. Quote Share this post Link to post Share on other sites
Praetorian 1 #6 March 23, 2004 actually the car loan belongs to my parents (and just to piss them off I keep paying them the same monthly payment I would have paid the bank) no the loan was in their name too so when they refinanced it got cleared, they consider the matter setteled but I keep paying. I love my parents the fact they offered to call it good makes me want to pay them first, oh and the student loans have no coverage. I checked Good Judgment comes from experience...a lot of experience comes from bad judgment. Quote Share this post Link to post Share on other sites
kelel01 1 #7 March 23, 2004 Stop paying for your current shitty term life policy, and ask your agent about one without a skydiving exclusion. That's one of the exclusions that can be written out of a life policy at a price-- high risk life insurance, if you will. But a skydiving exclusion is (99 times out of 100) going to be excluded from a term life policy unless you ask for it otherwise. It's just automatic contract language. My life policy through work excludes that as well, but my disability and medical policies both cover it. That suits me just fine in my current situation (single, no kids). If I'm disabled, I still need an income, so it not being excluded on my disability policy is MUCH more of a concern. And if any of y'all don't have disability coverage-- GET IT!!!! That and medical insurance are the two most important coverages you can have, especially when you participate in a high-risk sport like skydiving. Lecture over . . . go on with your day . . . Kelly Quote Share this post Link to post Share on other sites
jumpnrandy 0 #8 March 23, 2004 Quote And if any of y'all don't have disability coverage-- GET IT!!!! Kelly I could not agree more. Everyone should remember that There are things in life worse than DEAD. Randy Quote Share this post Link to post Share on other sites
mcrocker 0 #9 March 23, 2004 Your parents should have to pay off any loans unless they are cosigning guarantors on the loan. If the car loan is entirely in your name let loan owner repo the car. Your parents are only responsible for the loans they have actually signed on. You and your estate is responible for everything you signed for. Technically the loan holders could go after other assets in your estate but as my dad always says 'You can't get blood from a stone' If you don't have it, they don't get it. Quote Share this post Link to post Share on other sites
mcrocker 0 #10 March 23, 2004 QuoteStop paying for your current shitty term life policy, and ask your agent about one without a skydiving exclusion. That's one of the exclusions that can be written out of a life policy at a price-- high risk life insurance, if you will. My SBLI life insurance policy is trying to charge me $5/1000/year. I'm required to have $1M in life insurance so my premium is +$5000/year for the 100 jumps I make a year that is $50/jump extra. Kinda makes it waaay too expensive to jump. I'm trying to see if they can cover me while I jump but for less than the $1M amount for regular coverage. At this point I'm grounded until I figure out how to get coverage for a resonable price :(. Fortunately it is still too friggen cold out so I'm not really missing any jumps. Quote Share this post Link to post Share on other sites
Nightingale 0 #11 March 23, 2004 looks like most student loans get discharged upon death. http://studentaid.ed.gov/PORTALSWebApp/students/english/discharges.jsp?tab=repaying and http://www.nhheaf.org/repayment_options.htm Death Student loans may be discharged in the event of a death. In the case of a PLUS loan, you may be eligible for loan discharge if the dependent for whom a PLUS loan was obtained dies. To qualify for a death discharge, a spouse, parent, relative or friend must provide the loan servicer with a certified copy of the death certificate. Quote Share this post Link to post Share on other sites
Praetorian 1 #12 March 23, 2004 Thanks, when I checked I couldn't find any provisions for death in my consolidation paperwork but it says I keep all rights provisions and protections of the origonal federal loan I'll double check but that should include death. Good Judgment comes from experience...a lot of experience comes from bad judgment. Quote Share this post Link to post Share on other sites
jumpwally 0 #13 March 23, 2004 Who's request is the 1M policy?smile, be nice, enjoy life FB # - 1083 Quote Share this post Link to post Share on other sites
mcrocker 0 #14 March 23, 2004 QuoteWho's request is the 1M policy? My company. I have a pretty large amount of debt hanging over my head and need to have coverage to support that debt. I also need to have enough to keep the company running (pay for my replacement). I have 50 employees with families that I need to think about. I also have a wife and child so it is a pretty big deal, I don't want to leave them high and dry if I went in. I love skydiving but the risks are too great to ignore and not setup some form of backup protection (financial) for my family and the families of my employees. If I can't find an acceptable insurance policy I'll have to find a safer sport (i.e. one that is covered). Quote Share this post Link to post Share on other sites
jumpwally 0 #15 March 23, 2004 I seem to remember an add in Skydiving Magazine that was selling something like that,,,there has to be a company out there that does this,,got to be other people in your situation...give it time..smile, be nice, enjoy life FB # - 1083 Quote Share this post Link to post Share on other sites
Scrumpot 1 #16 March 27, 2004 Check out this thread HERE Then, if I can possibly further clarify/help, feel free to PM me. Blue Skies, -Grantcoitus non circum - Moab Stone Quote Share this post Link to post Share on other sites
