An estimated 2.5-3.5 million Americans participate in recreational scuba diving. Another 500 thousand become certified each year in the United States. These growing numbers point to why scuba diving is the most frequently encountered sport in Life Insurance underwriting. Scuba divers shopping for Life Insurance are often surprised by the perception from Insurance companies that scuba diving is dangerous. But often, they simply overestimate how their hobby will actually impact their Life Insurance rates.
How does SCUBA diving impact my insurance premiums?
Generally, scuba diving is considered a safe sport if done within the scope of the diver’s training. The risk becomes greater when inexperienced or unqualified divers go beyond their training and experience. A client’s health status is important to safe diving and is a key element to an underwriter’s decision. Certain conditions that could concern an underwriter are:
- Panic Disorders
- Heart Disease
- Pulmonary Diseases
General Guidelines for Low Cost Life Insurance Rates for SCUBA Divers
Most Scuba divers are accepted without an avocational rating. Some divers become more involved in activities that add risk and may require a rating or, in rare cases, a rejection. Examples include:
- Cave Diving
- Wreck Diving
- Ice Diving
If you fall within the guidelines below, we have access to a couple of companies that will offer the same rates that are available to the general public.
To 100 Feet with Basic Open Water Certification
Recreation Diving: <10 Dives Annually : Preferred Best rates are available
Recreation Diving: >9 Dives Annually: Standard Plus rates are available
From 101 to 130 Feet with Advanced Certification
>9 Dives annually: Preferred rates are available
Technical Diving (Wreck, Cave, Ice, etc.)
Standard Plus rates are available for Technical Diving
Overall, scuba diving is safe and viewed favorably by some Life Insurance companies. The key to receiving the best rate available is to apply with the correct company. At Life Insurance with Jason, we work daily with over 40 A rated Life Insurance companies to secure our clients the absolute best rate available. As an independent agency, we work with the Life Insurance companies, not for them. You can be confident that we have the experience and knowledge to serve you best. Please complete the quote request and begin shopping for your low cost rate today. If you would like to discuss your individual situation, please do not hesitate to give us a call.