High-Risk Hobbies and Life Insurance

A person engages in a high-risk hobby, scuba diving, and photographs a tortoise.

Photo by Richard Segal: https://www.pexels.com/photo/person-takes-photo-of-tortoise-1645028/

Did you know that your hobbies can impact your ability to get life insurance or disability coverage? Some adventurous activities, enjoyed by many people, can lighten your wallet when you pay premiums.

When you apply for life insurance, you go through an underwriting process to determine if you are a high-risk person to insure. The company will ask you many questions to determine if they choose to insure you. Some of these questions may include your eating habits, family history, your physical health, and how often you exercise. Generally, you must provide a medical report or undergo a medical evaluation that includes your blood pressure and cholesterol levels and possibly blood and urine samples. You may also need to answer questions about your hobbies.

What are high-risk hobbies?

High-risk hobbies are activities not usually covered by insurance because of the increased chances of injury or loss of life. Often, insurance companies label these hobbies as hazardous or dangerous activities. Usually, these hazardous activities include bungee jumping, skydiving, scuba diving, horseback riding, BASE jumping, hang gliding, race car driving, flying a plane, parasailing, and off-roading. Some occupations are considered high-risk, such as aircraft pilot, underground mining, structural steelworker, offshore oil rig worker, offshore fisherman, logger, and some construction work.

If I have high-risk hobbies, can I still receive coverage?

If you are engaging in these high-risk hobbies or hazardous occupations, some insurance companies may reject you. That does not mean that every company will pass on insuring you. Another insurance carrier could offer life or disability insurance with a higher premium than you would have without the dangerous hobby. On the contrary, the insurance company may decide to sell you a life insurance policy but prohibit life-threatening hobbies from being covered. Other situations where accidents occur would remain under the policy’s coverage. On the contrary, every insurance company is different. One company believes your hobby is a high-risk situation. Yet a separate company deems your hobby acceptable for coverage. For the sports enthusiast or thrill seeker, another viable coverage option resides with travel insurance for adventurous hobbies.

Is there anything else you can do? You can stop participating in the high-risk hobby. Alternatively, an insurance company may install a flat extra charge to adjust your premium payments based on your high-risk hobby. A flat extra charge is a set amount added to your life insurance premium payments to balance out the risk of insuring a high-risk person. If, at some point in the future, you decide to stop practicing your high-risk hobby, you likely can get the insurance company to remove the flat extra charge from future premium payments.

You might think your hobbies will severely limit your insurance options, but you have options available. Are you considering purchasing life insurance or disability insurance coverage? Call Empower Brokerage at (888) 539-1633 to speak with one of our friendly licensed agents. They are eager to assist you in finding the right life insurance coverage.

If you found this article informative, please read about how tart cherry juice stops insomnia.

Life Insurance Questions?

We hope that this information on high-risk hobbies is useful to you.

If you’d like to learn how we can help you plan your retirement, call Empower Brokerage at (888) 539-1633 to speak to one of our Life and Annuity experts or leave a comment down below.

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About Joey Hinojosa

Joey Hinojosa graduated with a bachelor's degree in broadcast journalism and a master's degree in mass communications. He began working at Empower Brokerage in early 2022 and enjoys being creative in his writing, photography, videography, and other projects.

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