Some insurance companies will charge higher premiums for life insurance for divers, due to the fact that the risks involved mean a claim is more likely.
As part of the application process disclosure will need to be made on whether the diver is involved in recreational diving, cave or technical diving or any diving done for a payment.
Life insurance is an effective way of ensuring that a diver’s family will be provided for in the event of their death. A diver’s life insurance policy can provide financial peace of mind so that:
- Beneficiaries receive a lump sum upon the life assured's death, or
- regular payments upon death
- Cover for an outstanding financial liability