Most of my work has been finding the best life insurance prices for people with impaired health, impaired risk life insurance. I won’t make any wild claims about being the best there is out there, but we are in a constant state of education and refining of processes to make sure that our clients can count on us to find the best possible life insurance match for their situation.
In response to a multifaceted need we have taken on products for travel insurance, accidental death and dismemberment and tailored special event insurance. This has helped many of our clients who do things like pull banners behind their airplanes, student pilots, skydivers, civilian contractors working in war zones, and most recently a celebrity actor/motorcycle stuntman who needs coverage for a specific event.
These products aren’t a replacement for traditional life insurance that covers all causes of death. I see their value in two areas. First is when a person doesn’t have enough experience to get good rates on life insurance and needs a year or two of accidental death insurance to gain that experience. In the case of a pilot recently this worked for him since, while a licensed pilot, he had only flown 2 hours in the past 12 years. He now has the time and money to pursue being a private pilot to the extent he’s always dreamed of, but at best is considered a student pilot by life insurance companies.
He needed $500,000 in coverage so we combined a term life insurance policy with an aviation exclusion with an accidental death policy to cover his aviation. When I can I write life insurance policies that cover all the risks, but in this case the only company that would cover him without pounding him with a flat extra was John Hancock and their minimum term policy is $750,000 (there is a rumor they may lower that to $500,000). We came out ahead of where he would have ended up if he had increased to $750,000 and gone with John Hancock.
The other area of value is when people are doing things that no life insurance company is going to touch….ever! Or the cost of insuring the life for all causes and an extremely dangerous hobby or job is just cost prohibitive through a traditional life insurance company. I shopped a case for a professional skydiver whose club held every kind of record you can imagine including skydiving from one airplane into another. I got a lot of chuckles out of the traditional underwriters, but no offers. When it comes to these kinds of cases just about the only company that will come through consistently at reasonable rates on AD&D is Lloyds of London. The good news is if it is aviation related I can also write a regular life insurance that excludes aviation and skydiving. Full package that a life insurance company alone wouldn’t do.
Bottom line. You’re gonna do what? And you want insurance? Give me a call or send an email directly and let’s see what we can do to help you out.