Dangerous Hobbies Can Increase Premiums
When you take out a life insurance policy you’ll be asked a number of questions, including whether you engage in “dangerous” hobbies like skydiving, bungee jumping, scuba diving, rock climbing, etc. If you do, the insurance company will typically place you in a higher risk category, which means your premiums will be higher.
If cost is a concern, your only real option is to consider giving up dangerous hobbies. While you could choose not to disclose a hobby, that could create the risk of a coverage dispute if you do pass away while engaged in that hobby. While you won’t receive a lower premium, at least your beneficiaries will receive the benefit of your policy.