I recently had an enquiry about arranging life assurance for an American client. Under normal circumstances insuring a fit non-smoking forty something academic is reasonably straight forward. However, my learned transatlantic comrade has an unusual pastime; he sky dives up to 75 times a year. As you would imagine this leads to huge underwriting problems with nearly all insurance companies. They view this type of application as a larger than normal risk and typically charge up to three times the standard premium, when compared to those of us who keep our feet on the ground.
But persistence pays off! I found an insurer who offered cover to the client on standard rates because they took the time to listen to the fact that the client has been sky diving for twenty years and that he actually holds a recognised licence certifying his competence. So with a bit more effort and a personal approach on my part we were able to provide the client with the right level of protection and, as importantly, at a realistic price. I would like to see the price comparison website that can do that!
If anyone would like to discuss their life insurance needs please do not hesitate to contact me.
Alex Pangratiou worked for Limetree Financial Services until April 2012. Feel free to contact another member of our team for help or advice.