Do motorcyclists have to pay more for their life insurance…
The UK’s different types of terrain are perfect for hikers, mountaineers, and rock climbers. With its natural peaks, gradients and stunning views, people all over the UK spend their free time climbing.
With rock climbing becoming an Olympic sport in 2020, indoor climbing has exploded in popularity. Approximately 1,000,000 people now indoor rock climb in the UK, including 100,000 regulars.
This growth in popularity has also caused a growth in requests for rock climbing insurance.
Through human error, it’s a possibility you could be injured or even worse no matter how much of an experienced climber you are.
Which is why it’s important to secure a life insurance policy to protect loved ones if something were to happen to you.
But can you still secure life insurance with this hobby and will rock climbing impact your premiums?
In this article we’ll cover everything you need to know, so you can keep rock climbing and have peace of mind.
Yes, rock climbing as a hobby or as part of your occupation may influence the price you pay for your life insurance.
However, it’s unlikely that rock climbing will prevent you from obtaining life insurance.
Life insurance providers calculate the price you pay based on the level of risk you pose meaning, if high risk factors (such as a high-risk hobby like rock climbing) are identified, you could pay more.
The risks involved with rock climbing can vary and, for this reason, insurers will need to ask additional questions.
Details you’ll need to provide about rock climbing during the application process include:
Life insurance isn’t a necessity for rock climbing but can be beneficial if you have loved ones who would struggle financially if you passed away. However legally, it’s not a requirement.
Life insurance can pay out a cash lump sum to your loved ones if you pass away, meaning they’ll be better equipped to deal with the financial stresses they could face.
Many climbing facilities or registered climbing groups will offer public liability insurance, which would cover the costs of any incidents if you’re climbing with a registered group or company. However, this covers a business as opposed to the person who has died.
For this reason, it’s important to have your own personal cover to protect your loved ones, with the right rock climbing or mountaineering insurance.
Reassured don't offer any form of public liability insurance. However, our friendly team can help you secure life insurance. Simply get in touch.
As there can be a risk of death for any climber, no matter how experienced, it’s important to have life insurance to protect the other aspects of your life.
Life insurance policies can help to cover the following:
Mortgage - If you live with a significant other or family members, you want to help them cover the cost of the mortgage if you pass away.
If you’re the main earner for your household, or your family couldn't survive without your financial contribution, life insurance can help to prevent them from defaulting on the mortgage and losing the family home if you're no longer around.
Family living costs - Bills including council tax, utilities and day-to-day expenses can also impact your family’s life and home if unpaid. This can also involve food, travel and any other necessities your family may need to pay each month.
A life insurance pay out can help ensure these payments are covered and don’t become debts.
Care costs - If you have parents, grandparents or other elderly relatives that depend on you financially, a life insurance pay out can help to provide the funds to cover their carer costs, home adaptations or retirement home fees.
Childcare costs - Whether you need to cover the cost of nursery, school supplies or further education, life insurance can help safeguard your children’s education.
Life insurance can also help to cover additional financial aspects of raising children, making sure they have the essentials to reach adulthood and financial maturity.
Funeral costs - If you pass away, it’s important to have a plan for your funeral so it doesn’t impact your family during a difficult period.
Life insurance can help guarantee your family aren’t saddled with your funeral costs on a successful claim.
Inheritance - If you wish, you can bestow a portion of your life insurance to your loved ones. This could be for a wide range of personal reasons and can help them to continue financially if you pass away.
It’s also possible for life insurance funds to be donated to a charitable cause.
Premiums for rock climbing life insurance will vary depending on your personal circumstances.
As well as the specific details of your rock climbing hobby, such as:
You’ll also be asked for other key details so that insurers can calculate your life insurance premiums.
These details include:
Comparing quotes is essential as every provider has a different underwriting process so quotes will vary significantly.
Why not contact Reassured to compare quotes from some of the UK’s leading providers to find the most affordable life insurance from our panel of insurers.
Yes, it’s possible to get life insurance if you’re a climber.
At Reassured, we don’t offer specific climbing insurance, insurance for mountaineering or insurance for hiking.
However, Reassured can help you secure a life insurance product which meets your individual circumstances and climbing requirements.
The four life insurance products Reassured can help you obtain are:
+You'll need to disclose your rock climbing for an accurate policy and premiums
Critical illness cover and terminal illness cover are products which provide additional levels of cover:
Critical illness cover - This is a product which is designed to pay a lump sum if you’re diagnosed with a life altering illness.
You’ll receive a pay out if you are still alive 14 days after your diagnosis. Thirty common conditions are usually covered but this is subject to your providers terms and conditions. You may also have exclusions based upon your medical history and your climbing hobby/occupation.
For example, total disability may be added as an exclusion due to the risk of falling while climbing. Total disability refers to disability that’s permanent and will stop you working in any capacity. However, the definition of total disability can vary between providers.
Critical illness can be added to all term-based life insurance through Reassured for an additional cost. However, it can’t be added to whole of life insurance or over 50s plans.
Terminal illness cover - This product allows an early claim on your life insurance policy if you’ve been diagnosed with a terminal illness, leaving you less than 12 months to live.
The funds received can help to cover your end of life care or anything the you and your loved ones choose. The policy would then be terminated once a successful claim has been made.
Terminal illness cover is included with all term-based life insurance through Reassured. Cover is available with certain insurers for over 50s life insurance and can't be included with whole of life insurance.
At Reassured, critical illness cover, and terminal illness cover can't be bought as standalone policies. We can, however, help you arrange life insurance with critical illness cover.
Yes, as per the terms and conditions of your policy, your loved ones could receive a pay out if you pass away while rock climbing (within the term of the policy).
Like any extreme sport or hobby, rock climbing can be fatal and, most of the time, it’s down to human error.
You’re less likely to die or be gravely injured under supervision on an indoor wall than free climbing solo outdoors, but rock climbing deaths do happen.
It's unlikely you’ll be declined life insurance for rock climbing. However, if you’ve been refused life insurance in the past, it doesn’t mean you can’t get any form of cover.
Reassured have a specialist impaired life insurance team who focus on finding some form of cover for applicants who have previously been declined.
This doesn't necessarily have to relate to your climbing - it can also be if you’ve been rejected due to medical conditions or other factors.
Contact our award-winning team for your no-obligation, fee-free quote.
It’s important to have life insurance in place to protect your family if something happens to you.
Reassured are FCA-regulated and can help you secure life insurance tailored to your individual circumstances. Our friendly UK based call agents can help you find our best quotes from our panel of insurers.
Quotes are completely fee-free, no-obligation and are from our award-winning call centre. Simply get in contact.
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