Sky Diving

You can protect yourself and your family if you are sky diver! Don’t stop participating in the extreme sport you love and make sure you are covered today!

Published October 4, 2013

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In the past, insurance for skydiving was very expensive and often unaffordable for most skydivers. Thanks to our extensive experience and relationship with life insurance companies, we have been able to negotiate for more favourable cover for sky divers.

By taking out a policy that includes cover for skydiving, you can have peace of mind knowing you and your family will be looked after if something should happen to while skydiving.

How can we help you gain cover?

We are experts at helping clients who participate in high risk past times gain cover. Our level of experience and our close relationships with the main life insurance companies in Australia allows us give you the best possible options and allows us to negotiate with insurance companies to find you the best cover possible for the sports you love!

What information will insurers and Life Insurance Direct need?

In order to get a life insurance quote for sky diving, we will require the standard life insurance information:

Standard Life Insurance Information Skydiving Specific Information
Height The type of skydiving or parachuting you participate in
Weight Your level of experience and training
Age Certificates and licenses you have
Gender Any affiliations or memberships of clubs or associations
Smoking Status Drop zone locations
Level of Cover Number of jumps per year
Any participation in competitions, exhibitions or record attempts

Why do I need to supply this information?

There are two main reasons why supplying this information is necessary:

  1. Life Companies need all relevant information in order to make the most informed decision possible regarding your skydiving and if they can provide you with cover and on what terms.
  2. By supplying us all this information, we are better able to advise you of what your options are as well as helping us to negotiate a better deal for you with the insurance companies we work with.

We make it easy for you to compare policies online with our powerful comparison engine.

Buy with confidence today for peace of mind tomorrow.

What are my cover options?

While most sports are generally accepted at standard rates, extreme sports are generally handled on a case by case basis. Cover options:

1. Full cover at standard rates:

The best possible outcome for you, life insurance companies may offer full cover for sky diving at standard rates. This may depend on the number of jumps you undertake per year, your level of experience and where the jumps are taking place.

2. Premium Loading

Insurance companies may apply a percentage loading to your premium so that you can continue to sky dive and maintain your cover. A general percentage loading may be 25% – 300%. If a 50% loading is applied, this means that if your annual premium is $1,000, the loading applied would be $500, making your total annual premium $1,500.

3. Exclusion

Insurers may apply, or you may accept, an exclusion on your policy for sky diving. This means that you policy will be accepted at standard rates but you will not be covered for death or injuries that result from sky diving or sky diving related activities.
Insurers may apply an exclusion for sky diving if they deem the activity too risky. Exclusions may be reviewable every 12 months and we will always work with you and our life insurance partners to avoid an exclusion if you want cover.

4. Dollar per mill premium

A dollar per mill premium is when a dollar amount (generally between $2 and $15) is applied to your base premium for every $1,000 worth of life cover you have.
For example if you have $1 million worth of life cover and you have a $3/mill loading applied to your policy, you will pay an extra $3,000 in annual premiums on top of your standard premiums.

Example:

Level of Cover$1,000,000
Dollar per mill loading $3.00
Annual Loading Amount $3,000 (3×1000)
Base Annual Premium$1,000
Total Annual Premium with Loading$4,000

Please note that a dollar per mill loading may not be applied in all circumstances and it will depend on the number of jumps you participate in per year, your level of experience and a number of other factors.

How much will my premium amount be?

The amount your cover will cost will depend on the above factors and the individual life insurance company’s view on your sky diving activity.

Standard Rates:

If you are accepted at standard rates, your premium will be the standard premium for your individual circumstances and will not take your sky diving into account.

Exclusions:

If a sky diving exclusion is applied to your policy, you will generally pay standard rates with sky diving excluded.

Loadings:

If loadings are applied to your policy, your premium will be the base premium PLUS any loading that is applied so you are able to participate in sky diving.

An example quote is below

The below example is based on a 30-year-old male accountant.

DetailsLife InsuranceTrauma Insurance
Level of cover$1 million$500,000
Standard annual premium$557.76$719.16
Loading50% loading50% loading
Total annual loading amount$278.88$359.50
Annual premium with loading$836.64$1078.66

Please note that quote is an example only and may not be indicative of actual cover available. Please speak to our specialists for a more accurate quote.

Other extreme sports

We specialise in helping our clients find cover no matter what past time they are participating in. If you participate in another extreme or high risk sport such as motor racing, mixed martial arts, caving, scuba diving or offshore sailing, contact us today on 1300 135 205.

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