There are many things to consider when buying life insurance for athletes. Athlete life insurance will take into account not only the sport, but other factors which suggest possible health concerns.
Some sports are more strenuous than others, while some sports are even dangerous. It might easy to insure your sport, or it might be hard to do.
You also have to consider the level of competition, from high school to professional athletes.
If you’re an athlete and you’re looking for life insurance, we can assist you (no pun intended). We’ll find you the right carrier, and the best price on the market.
Athlete Life Insurance
If you’re an all-pro athlete on the cover of ESPN or just playing on a team as a student-athlete for recreational purposes, life insurance could potentially be more difficult to obtain for a number of reasons. Athletes life insurance hinges on your current health, past history, and your current lifestyle and habits. Life insurance is crucial to replace income, especially for athletes whose sole income comes from his or her athletic arena. Student-athletes may not need much, but might require a large amount in the coming years. Here’s a quick punch list of additional risks:
- Type Of Sport
- Level Of Competition
- Supplements You’re Taking
- Current BMI
The Sport You Compete In
The type of athlete you are can weigh heavily on your possible approval. A rating for someone who participates in a no contact sport as pure recreation will probably be able to secure much better rates than someone who is looking for life insurance for professional athletes involved in extreme sports.
The Level of Competition
Your level of competition can affect your possibility of buying life insurance as well. Athlete life insurance for someone who is in their senior year of high school versus the top tiered professional ranks of the world could vary. Take golf for example. While it might seem like a safe sport, it could involve lots of travel, so there are risks to the amounts of flying as well as to what countries the golfer flys to. All things have to be considered, not just the sport itself.
What Supplements You’re Taking
It’s no secret there are plenty of performance enhancement drugs in the world, but even modern supplements could be viewed as a risk. Further, even ones which are approved by the major industry leaders, approved by the governing bodies of the sport (like the NCAA), and sold in nationwide stores can have a negative outlook on your profile when you apply. Vitamins, minerals, powders, gels, whatever you take may affect your rates.
Your Current Body Mass Index
You could be in the best shape of your life, but your body mass index, or BMI, may control the discounts you’re eligible for. Consider this: a 200 pound male who is a couch potato versus a man who is equal in weight because he is a bodybuilder don’t have equal levels of health. But by the numbers, they would have the same BMI. In a nut shell, having a BMI outside of normal ranges would need special attention.
Athlete Life Insurance: Supplementation
To expand on the topic of supplements from above, there are some simple things you can do to prevent your application from being held up, or even declined. Plenty of athletes take supplements, from basic vitamins to more advanced protein, creatine, and glutamines. It’s not bad that an athlete takes them, but the athletes insurance could be mishandled if the underwriter doesn’t know you are adding this to your system on your own.
Here are some best practices when applying for life insurance for athletes:
- Tell the agent and underwriters you’re taking a supplement!
- Have the supplement details ready.
- Explain your purpose for its use, and how often you take it.
- Know how long you’ve been using it for.
Whether you tell the agent or underwriter or not, they’ll find heightened levels in your blood for whatever you’re adding to your body. But if you don’t tell them, there is no way of knowing your body isn’t producing extra on its own, as opposed to getting aid. This could bring up false red flags of conditions or diseases which you don’t really have.
But you also have to remember, just because you claim you have taken a supplement doesn’t mean it’s okay! Not all supplements are good for the body. Certain body cleanses, detox or purity diets, and other off the cuff supplements could hurt your life insurance purchase. Athlete life insurance has a little wiggle room, but it’s not a full relief to do what you want. Every case is completely unique, as there are thousands of supplements available.
If you are look for life insurance for athletes, or even disability insurance, contact us today and we’ll be happy to assist you in finding an appropriate policy, with a reputable carrier. Financial hardship can hit anyone. Don’t let a sickness or injury keep your finances paralyzed. We are an independent life insurance agency so we can sift through over 5o companies on your behalf to find the coverage you need.
Contact us today.