Nobody wants to overpay for anything, let alone life insurance. As a diver, you know that you’re considered high-risk by most life insurance carriers, so overpaying may feel inevitable.
But take heart! You may be able to save money when you’re budgeting for your life insurance, especially if you’ve had a recent change in lifestyle or health. And—here’s the clincher—you don’t have to drop your scuba diving lifestyle or hobby to get better rates. Here’s why:
- Very reasonable rates are available for scuba divers who still enjoy the hobby. Life insurance companies specialize in the risks they underwrite. As a matter of fact, an underwriter with a very clear understanding ofscuba diving may not assess much extra premium at all. Here at The Firm of Steven H. Kobrin, LUTCF, we specialize in clients just like you. We understand how important it is that your family is covered in case something happens.
- Waiting periods after a lifestyle change are not always necessary for a rate reduction. If the broker provides a proper perspective on the lifestyle change, an underwriter may provide a lower rate immediately. For example, if an avid scuba diver retires due to a new child, the right underwriter may completely understand that he or she really doesn’t want to dive anymore and put his family at risk. The rate reduction could be immediate.
- Many companies will wait just 12 months after an improvement in health. This includes people who have stopped smoking; improved their blood sugar; or are recovering from cancer treatment.
If you haven’t caught on yet, here’s the big news: life insurance companies will be reasonable when assessing the level of risk you represent. If you pose a lower risk, they will lower the rate. Surprise!
It’s our job as life insurance experts to get you the best rate. You shouldn’t have to forgo peace of mind for your family just for having a hobby or passion that you enjoy, so let us help.