As you’re probably aware, you have to have a medical test before you can scuba dive in many jurisdictions – thus, even the scuba diving industry is concerned about your physical and mental health.
There is no doubt that insurance companies perceive scuba diving as a high-risk activity, so how can you deal with this? The best answer is to understand that you can’t avoid their concerns, but you can better prepare yourself by knowing what to expect when you apply for life insurance.
The first thing to know is that you’ll have to complete an additional questionnaire. Don’t be worried about it! The questionnaire is simply a way for life insurers to get more information about your scuba diving practices so they can evaluate their risk to insure your life.
Scuba Diving Questionnaire
They type of questions on the questionnaire and other information required will vary depending on the life insurance company. Basically, they will want to know your previous dive history, as well as your scuba diving plans for the future.
Typical life insurance questions will include:
- Your medical history
- Your lifestyle
- Your diving experience, including certification
- The dive depths
- The frequency of your dives
- Dive locations – lake, open ocean, beaches
- Diving sites such as wrecks or salvage
- Diving activities – search and rescue, caves, ice
- Whether you participate in commercial scuba diving
- Whether or not you dive alone
Life Insurance Application – Possible Outcomes
You can expect a rating or a decline depending on the combination of the following:
- Depth > 120 ft.
- Scuba diving experience
- Technical diving
Possible Decline for Life Insurance
You’ll usually be declined for traditional life insurance coverage with a combination of your scuba history and medical ratings for the following:
- Cerebrovascular disease
- Respiratory disease
- Psychiatric illness
Remember that the above is not written in stone so whether or not the above says you’re a good candidate for traditional life insurance, don’t despair. All you need is to get professional advice from a life insurance agent or broker. If you don’t qualify for a traditional policy, you will likely qualify for an affordable simplified or guaranteed issue policy.
At Shelter Bay Financial Corp., we are very knowledgeable about how insurance companies view scuba diving. If you participate in scuba diving and want the best rates for life insurance, we can help you with that. We know what information you need and have a good indication of what type of policy will best suit your needs.
To find out more or to speak with an insurance professional, call us at 1.888.498.5288