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Author Topic: Anyone have life insurance?  (Read 1093 times)

cguertin

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Anyone have life insurance?
« on: December 27, 2011, 10:59:15 PM »

Wondering if anyone has gone through the process of obtaining life insurance while being honest about climbing?

I am about $250/yr to insure...but about $1800/yr if I am honest about climbing!

I told them I go less then 5 times per year on local cliffs less than 100', and an additional ~5 times per year indoor...which is the truth these days.

I am told there are companies that specialize in insuring high risk people (e.g. cancer patients and, I assume, climbers) that would be less expensive because they understand the risk profile of specific cases. The guy at the company I was dealing with has stopped calling so I guess he is out of ideas.

I have kids, and the point is to be covered while doing these sorts of things...so I felt it was important to be honest. The last thing I would want is for them to NOT pay out to my family after my demise while climbing.

Any insight from the community would be appreciated.
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Admin Al

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Re: Anyone have life insurance?
« Reply #1 on: December 27, 2011, 11:12:00 PM »

I have $100k of life insurance & it's about $500 a year for term. you just have to shop around.
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MT

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Re: Anyone have life insurance?
« Reply #2 on: December 28, 2011, 10:12:07 AM »

I am insured through VT Life (I think, unless they've been bought out by someone w/ all the consolidation in the insurance/financial sector).

They asked pointed questions. I couldn't believe that they knew that much about climbing. When she asked about what kind of climbs, I started giving her the "non-climbers" definition and she said "Well, can you give me a number based on the Yosemite decimal system?". I was shocked that they were that informed about the details of climbing. I was honest in giving them details about my climbing (rock and ice) b/c I have a couple of kiddos and a wife and I know they'd do just about anything to wiggle out of paying. My policy is ~$800-1000/yr for I think $500K in coverage. A lot depends on your age (I'm 40) and health status, as well as these "risky" behaviors. Shop around and maybe try an independent broker. Bottom line is that you're probably going to have to pay a bit to get the coverage you need, but it's well worth it.

Best of luck,

Mike
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strandman

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Re: Anyone have life insurance?
« Reply #3 on: December 28, 2011, 10:58:48 AM »

You can get lesser policies (100k max) through AAA. it's a group life so they are a bit less picky.
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Climber57r

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Re: Anyone have life insurance?
« Reply #4 on: December 28, 2011, 02:47:40 PM »

I opted to not go with the term. My Insurance did go up quite a bit due to climbing. $900 to $1350 @ 200k  :o. I do climb a lot...but only at 5.4..haha..wait are they reading this...hmmm. Ahhh...5.0 now. But there is quite a bit of options for term around the $50-$60 ($600yearly) range that I have found.
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skiyak777

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Re: Anyone have life insurance?
« Reply #5 on: January 06, 2012, 12:55:03 PM »

This guys specializes in helping people in high risk categories get reasonable rates:
http://www.stevenkobrin.com/

I needed to add $250K insurance to an existing policy and was able to get it for through about $900/year through:

John R. Mara
Northwestern Mutual Financial Network
P: (617)531-9509 F: (617)523-1323

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Climber57r

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Re: Anyone have life insurance?
« Reply #6 on: January 07, 2012, 12:03:12 AM »

Good to know. I will check into this as well as my policy is new and may need to be changed. Thanks.
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Good times. Good climbs. Get out there, get after it, and most of all enjoy it.

"A not neat knot, is a knot not needed"

lucky luke

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Re: Anyone have life insurance?
« Reply #7 on: January 15, 2012, 07:06:37 AM »

Wondering if anyone has gone through the process of obtaining life insurance while being honest about climbing?
I don't have children, so I just need the aac insurance and an other one in case, just to get out of the mountain.

I think that the insurance most do a diference between sport and trad. Those who say that there aren't don't think about people with children. Call it bolt climbing if you want, but the risk is very lower as you sport climb than if you climb in remote area away from all civilisation. I am not saying that I like sport, but that the insurance and the people must know that sport is different and we most emphasize that to do trad other skill his need and, maybe the obligation to take a course to make the distinction very clear in the head of all climber.
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alclimbup2

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Re: Anyone have life insurance?
« Reply #8 on: January 15, 2012, 03:53:13 PM »

I think that the insurance most do a diference between sport and trad

LOL , hope all is well Jacques
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sneoh

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Re: Anyone have life insurance?
« Reply #9 on: January 15, 2012, 05:55:05 PM »

I think that the insurance most do a diference between sport and trad
For me, the difference is the responsibilities I have in life.  Before wife, mortgage, and kid, I did 50/50 trad/sport and had no life insurance.  Now I have life insurance, wife, mortgage, and kid.  And I do all sport.  And wear a helmet, and hoping to give my 20-year old rack to some young trad stud/studess.  LOL.
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"You have to decide to do a flag, where you can broke your vertebrae or a barn door depending of your pro" - the poster formerly known as Champ

DLottmann

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Re: Anyone have life insurance?
« Reply #10 on: January 15, 2012, 10:01:54 PM »

Does every topic need to degrade to the differences between Sport and Trad?

For Christ sakes...

In other news apparently America runs on Dunkin Donuts coffee. Iím quite sure that those who climb trad prefer independently roasted and freshly ground beans from Frontside Grind. Therefore it is quite obvious that people that drink coffee from Dunkin Donuts are more likely to be sport climbers than those who like shade-grown organic coffee. However, if you are the type that likeís Tim Hortonís coffee you like the trad parts of sport climbing when in the mindset of placing gear before one makes the crux move rather than focusing on the physical move of the climb and clipping the bolt while not worrying about insurance...

Am I doiní it rightí?
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sneoh

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Re: Anyone have life insurance?
« Reply #11 on: January 15, 2012, 10:14:26 PM »

I dunno; I enjoy the non-organic Peet's stuff (like right now- decaf).  :)
Oh well.
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"You have to decide to do a flag, where you can broke your vertebrae or a barn door depending of your pro" - the poster formerly known as Champ

strandman

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Re: Anyone have life insurance?
« Reply #12 on: January 16, 2012, 10:05:54 AM »

Good one Soon- i have been drinking peets for 20+ years.. we just used some for a Java porter.

Imagine if insurance companies tried to explain f'a's    ???
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sneoh

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Re: Anyone have life insurance?
« Reply #13 on: January 16, 2012, 05:43:29 PM »

That's amazing, John.  I am sure that Porter will taste mighty fine.
I first started drinking Peet's while going to school at UC Berkeley (yeah that hippie school) back in the 80's.
And when the stores in Cambridge and Lexington opened up around here (in 1997?), I was just about first in line to buy the beans.
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"You have to decide to do a flag, where you can broke your vertebrae or a barn door depending of your pro" - the poster formerly known as Champ

strandman

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Re: Anyone have life insurance?
« Reply #14 on: January 16, 2012, 06:52:44 PM »

To steal a thread-

my late , great , partner - Karl mallmen, was a berkley dude  before MIT and showed me the "the black"  many year s ago

only person I ever met that gave up the H cold and climbed 5.13
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