Life insurance is one of the most important purchases that you’ll ever make. It’s one of the best safety nets that you can have for your loved ones, but a lot of people assume that a policy is too expensive for them to afford. That couldn’t be further from the truth.
When applying for life insurance, it can often be difficult to obtain coverage for those who have adverse health conditions. Everyone knows that if you have any preexisting conditions, or you’re in poor health, that the insurance company is going to charge you more for coverage, but there are some factors that most applicants don’t know is going to impact their coverage.
The same can be said for those who practice what are considered to be dangerous hobbies – even if they are in perfect health. This is because there are certain activities that can increase the risk that the insurance company is taking on in terms of the insured potentially filing a claim. Some of these risky activities include scuba diving, sky diving, rock climbing, and motorcycle racing. There are not only activities that can increase your risk to the company, but also occupations, such a life insurance for a pilot! But do not worry, we are here to help you find the coverage that you need!
Does Motorcycle Riding Affect Your Life Insurance Premium Rate?
When riding a motorcycle, it is estimated that you are 25 times more likely to die in a crash as compared to passengers in an automobile, and that you are five times more likely to suffer an injury. Yet, ironically, when applying for life insurance, simply riding a motorcycle for pleasure does not have an adverse affect on the premium rate that you will pay. So while it is more dangerous, motorcycle riding doe not put you into a high risk life insurance category.
Therefore, provided that you can otherwise qualify based on your age and your health, it is possible that – even if you own and regularly ride a motorcycle – you could pay the best possible rates for your coverage.
What The Insurance Underwriters Want to Know
Just as with most other applicants for life insurance, when you apply for coverage, there are some things that the underwriters want to know. Typically, this includes information about your:
- Height and weight
- Smoking habits / tobacco usage
- Alcohol usage
- Marital status
- Occupation (if applicable)
- Income (if applicable)
- Health condition and history (as well as family history)
- Medications being taken (if applicable)
In addition, depending on your age and the amount of coverage that is being applied for, it is also possible that you will be required to take a medical exam, unless you have chosen to purchase a no medical exam life insurance policy. This exam generally entails providing a blood and urine sample.
These samples are reviewed for certain types of health conditions that may pose various risks to the insurance company. If such risks are found, coverage may be declined, or you may be approved for coverage and simply charged a higher amount of premium in return for the insurer taking on the higher amount of risk.
If you have any specific health condition such as diabetes, the life insurance underwriters will want to know even more details regarding your condition, such as when you were diagnosed, what medications you are taking, and the results of any recent procedures or tests.
If you have any preexisting conditions, don’t automatically assume that you won’t be able to get adequate insurance coverage for your family, but that couldn’t be further from the truth. Regardless of your health, you’ll be able to find a quality insurance plan to fit your needs. Nobody should have to go without the life insurance protection that they want for their family members.
How Much Will You Pay In Premium?
Once the underwriters review all of your information, they will have a clearer idea of your health and other risk factors. If it is found that your health is good and in line with others in your policy classification, then it is likely that your policy and premium rate will be classed as a Standard.
If, however, you are found to be in somewhat poorer health than average, you may still be able to obtain coverage, however, you will likely be rated as a Substandard and will be charged a higher than average premium rate.
Conversely, if it is found that you are in excellent health and that your family health history is also very good, you may be rated as a Preferred. In this case, you may also be charged a premium rate that is lower than average. Over time, this could save you a great deal of money overall.
Where Can Motorcycle Riders Purchase Life Insurance?
If you or someone you know is seeking life insurance for a motorcycle rider, it is a good idea to seek coverage sooner rather than later. This is because – at least at the present time – there are no specific questions on most life insurance applications regarding motorcycle riding for pleasure. Because of this, the activity of motorcycle riding – other than racing – does not have an effect on the premium that will be charged.
In any case, however, it is still a good idea to compare the policies and premium quotes from several life insurance companies in order to see the coverage and the prices that are available in the marketplace. This is because policies and premiums can differ a great deal from one insurer to another.
When you’re ready to begin the process of comparing, we can help. We work with many of the top rated insurance carriers in the industry, and we can obtain policy and quote information for you – from the comfort of your computer – within seconds.
To get the process started, simply fill in the form on this page and submit it. Should you have any additional questions regarding life insurance for motorcycle riders, premium quotes, or insurance coverage in general, feel free to give us a call directly, toll-free, at 888-229-7522 and we will be happy to help.
You never know what’s going to happen to you tomorrow, which means that you shouldn’t wait to get a life insurance policy for your loved ones. Don’t leave your family with thousands and thousands of dollars of debt. Get a life insurance plan today.