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Roulette WheelTaking out a life insurance policy is one of the most selfless things you can do to provide for your loved ones after your death. Hopefully, that date will be far in the future. You should be aware, however, that how you live your life may affect how much you'll pay for a life insruance policy. If you're an adrenaline junkie contemplating purchasing a life insurance policy, you need to understand how high risk activities affect your life insurance policy rates.

What Do Insurers Consider High Risk Activities?

There is no across-the-board policy pertaining to what activities will raise your life-insurance rates. Insurance underwriters consider every policy on an individual basis. Generally speaking, though, if your insurance provider learns that you have your pilot';s license, skydive, scuba dive, box, surf, snowboard, drag race, or rock climb, for example, you may be subject to extra fees and/or limitations on your risky activity. An insurer may specify that for a rock climber to qualify for a preferred-plus policy, he must not climb elevations exceeding X number of feet.

Can Insurers Deny Coverage Due To High-Risk Activities?

Insurers absolutely can choose not to cover an individual identified as high-risk. Insurers look at impairments that increase the likelihood that a person will die (and collect on their life insurance policy) sooner rather than later. The less risky an insurance applicant is, the more likely an insurer is to offer him or her a competitive policy. The longer a life insurance policyholder lives, the more money he or she is generating for the insurance company.

Whether you engage in risky hobbies or not, life insurance provides you the peace of mind that your death will not financially burden them. Furthermore, life insurance is probably more affordable than you realize. According to the Insurance Information Institute, millennials and Generations X'ers overestimate the costs by 213% and 119%, respectively!

Especially if you have dependents, life insurance is a precious gift that can ensure your loved ones will be OK should they suddenly lose you and your income. If you would like to learn more about life insurance options, contact Fleming & Riles Insurance at (800) 833-4379, and we will be happy to answer your questions about
Albany GA life insurance.
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