Life insurance?

[achevelle396]

Getting ready to become a private pilot, many people have told me I should look into getting life insurance first. If I have insurance before I get my license the insurance company wont be able to raise the rate(so ive been told). I'm 26 single and no children. Never had a reason to get life insurance.

Any thoughts/experience are much appreciated.

Thanks

[Dantilla]

If you have no dependants, you have no need whatsoever for life insurance.

[Denny of Oakland]

I have a little experience with life insurance and have had a few problems. Being in aviation was not a problem with life insurance, but telling the agent I also scuba dive was a bad thing. It appears certain sports activities will cost you more and have. Seem insurance agents tent to share data and different companies had my data on file know I scuba dive. The agent told me since the FAA requires a medical the risks are lower and be a diver comes with all kinds of risks as far as they are concerned.

Since I turned 55 it really doesn’t matter because I am considered high risk.

[DeniseM]

If you take part in what insurance companies call ‘dangerous activities’ you can be sure that you will fall in a high-risk category. These activities include rock climbing, aviation, bungee or base-jumping, scuba diving, racing, hand gliding, hot air ballooning, parachuting, skiing, skydiving, surfing or white water rafting. If any of these activities feature in your life, you might find it difficult to obtain certain types of life insurance policies or to find companies that offer coverage at all. This will result in a higher premium due to a higher chance of injury or even premature death. In fact, if you partake in such risky hobbies, you may need to think of a policy with a higher coverage amount as well.

And while it may be difficult to find an affordable policy it is not impossible. Nowadays, there are several insurance companies that specialize in such high-risk situations and have underwriters equipped to provide you with the best quote for your individual requirements. Thanks to the Internet, you can request for multiple quotes from a number of companies and choose the best and most affordable option. Always shop around and compare quotes before making any final decision.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.

[cbmontgo]

I have three kids and it took me some time to find a $ 1M policy for life insurance that covered aviation accidents in case I accidentally drive one into the ground. John Hancock ended up being the one I use. It's about $ 1K/year for the policy if you are in good health.