Finding Diver-Friendly Life Insurance

In our June issue, we wrote how life insurance companies often charge divers high rates. Because they consider divers to lead “risky” lifestyles, they knock them out of the running for a Preferred or Standard policy, which have lower rates, and qualify them only for the pricier ones.

But Undercurrent subscriber Michael Horbal (Newtown, PA), owner of Life Insurance Advisors, wrote in to say that there are actually some life insurers with good reputations that are more competitive on rates and will consider divers for policies without charging extra.

“In the past two years, some companies have loosened up their requirements for divers who go deeper than 100 feet (they’re not looking at the standard openwater certification you got with a 130 foot maximum, but what’s the average depth you go to while diving).

“Genworth Financial Company will offer Standard rates for divers who go to 125 feet. John Hancock will go to 120 feet on a case-by-case basis. How they’ll offer the rate is by considering whether you’re an experienced diver who dives regularly and has your own gear, not if you’re a honeymoon diver who does his dives at Sandals in Jamaica. And if you qualify medically, John Hancock will give you its Standard rate.”

Horbal says Life Insurance Advisors has helped 200 divers get better rates, and that he routinely checks rates offered by the handful of companies that underwrite divers. If you’re seeking a competitive policy quote, contact Horbal (he promises no obligation and no pressure) at www.lifeinsuranceadvisors.com/scuba-diving.html.