Dangerous Hobbies That Could Make Your Life Insurance Policy Go Up


These days, it’s all about seizing the day, living in the moment, and living your best life. Unfortunately, you’ll also have to pay a lot more for living an adventurous life. Participating in any dangerous hobbies can result in an increase in life insurance fees. Because statistics show that these hobbies increase the chance of untimely death, it is not surprising that life insurance increases. Here are a few hobbies that will raise your life insurance, and the extra costs according to Trusted Choice and Archstone Insurance Services:

1. Skydiving

Many people like to skydive once or twice in their lives, but for those who do it often as a hobby, the insurance is bound to go up. For a skydiver who jumps less than 50 times per year, the fee will be a flat extra of $2.50 to $3 for every thousand dollars of insurance coverage. Skydivers who jump between 50 and 1000 times per year will have to pay a flat extra of at least $5 per $1,000. If you do more than 100 jumps, the flat rate is $7.50 per $1,000. That certainly adds up. If you have a $100,000 policy, this means a fee of $250 to $750 a year. Perhaps if you join a skydiving club, you’ll be able to get a discount.

2) Aviation

Being a pilot is also considered a risky skill. And that means it has the high life insurance to match. For pilots over the age of 26 who fly between 301 and 600 hours per year, the extra cost per $1,000 of coverage is $2.50. For those who fly more than 600 hours, the extra cost is $5.

3) Hot air ballooning

While hot air ballooning may seem a lot more peaceful than sky diving, it still involves going to extreme heights. With a risk like that, insurance levels are bound to rise, through the additional cost is not nearly as high. The extra cost can range from no cost to $2.50.

4) Climbing

If you like to climb, the cost is determined by the height you climb. If you climb up to 13,000 feet, expect to pay anywhere between $2.50 and $3.50 per $1,000 of coverage. For those who climb higher than 13,000 feet, this extra cost can be anywhere from $5 to $7.50.

5) Diving

If you dive less than 100 feet, then you typically will not have to pay any extra cost.  If you dive deeper than that, the extra cost will be $3.50 to $5. The cost will be affected by the number of times you dive per year.

6) Hang gliding and paragliding

Hang gliding and paragliding, like other activities that involve going up in the air, can add an extra hefty sum to your life insurance. This extra cost can range anywhere from $2.50 to $7.50 per $1,000.

7) Auto racing

If you participate in sprint, drag or modified racing, the extra charge per $1,000 of coverage will be $2.50. For other types of racing, the charges vary.

All in all, living life on the edge comes at a price. And we’re not just talking about the price of your safety. If you have a dangerous hobby, expect your life insurance to go up.