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Hobbies are wonderful because they give you a opportunity to escape from work, relax and do that which you love. People have different hobbies depending with their preferences and way of life. Many are mild and some are wild. Thrill-seekers may view extreme activities as a way of life but most life insurance companies often feel different.
If you value taking part in extreme activities or sports, you certainly need life insurance since you constantly place yourself in danger. However, if you practice these extreme activities, you will definitely get high whole life quotes to the office you will visit.
How insurance companies view your extreme activities
Insurance companies that offer life plans have what they call 'dangerous activities', which increase your life premiums. Some insurance providers may deny a life insurance altogether when they term your activities too risk on their behalf.
To know these companies better, think of it by doing this, these businesses are playing safe bets, and people who are very high risks in the rate. If you have a streak of thrill-seeking activities, make sure that you have sufficient coverage and you're getting the best rates possible.
Some of the activities that quantity to dangerous behaviour
You know that hang gliding and base-jumping are dangerous activities that any insurance provider would think hard before providing you with an existence cover. Other pursuits that insurance companies may consider dangerous include aviation, skiing, surfing, scuba diving, horseriding, parachuting, white water rafting, heat ballooning, mountain climbing, rock climbing, car racing and powerboat racing.
Nevertheless, even hobbies you might not consider that serious can affect your premiums because of the statistics. For example, more people incur injuries playing pool than mountain climbing. Statistics also indicate that more people get hurt fishing than playing tennis.
The things they're doing not know will not hurt them
Should you participate in any of the above activities, you may conclude that it is not necessary to show this to your company throughout the application. However, if you exclude similarly info out of your application, the insurer will contest the payment of the policy because of how it approved and issued the policy.
If you perish within the incontestable period, which for many companies is usually within 24 months. The end result is, should you leave out any relevant information in your life insurance application, you could be jeopardizing your beneficiaries' claim that they can the insurance proceeds.
