UKC

I've just done an online quote for Life insurance for myself and my wife with DirectLine... It asked if either of us take part in any dangerous sports (including climbing) to which I answered yes. At the end of the quote is said they cannot offer us insurance, I think due to the climbing because we are both (and our parents) very healthy etc...

Is this a common problem? How do I get around it? Anywhere offer insurance for people who do "hazardous sports"?

In reply to AndyM-LVB:
Lie?

In reply to AndyM-LVB:

A few pointers from someone in the know...

1. Don't lie. If you die in a climbing accident, it won't pay out. Although if you die of a MI or CVA or similar, it probably would, with the FSA's new guidance on non-disclosure... But that is very much at the mercy of the company. My view is, disclose fully.

2. Online applications tend to be simplified products. You'll still be able to get cover via a broker or a tied salesman via HBOS, HSBC, NatWest et al.

3. Just out of interest, how hard do you climb? Challenge ratings if you think they're unfair.

You should not be rated if you just do sport / indoors. Easy Trad a few weekends a year might get you a loading, but kick up a stink and you'll probably get it waived. Anything in the E-grades or mountaineering is going to get you nailed.

I'm sure the BMC would be able to give you good advice on companies which are climber friendly. Similarly, a good broker might help if you're in the IFA market.

Hope the above helps. Give me a shout if you need any more info...

In reply to AndyM-LVB:

Sorry, to expand on point 2.

A simplified product is binary. You're in or you're out. They're cheap to administer as they're not underwritten.

In reply to AndyM-LVB:

This broker specialises in arranging life cover for climbers. Very helpful

http://www.summit-fs.co.uk/

In reply to AndyM-LVB:

don't know if it's still the case, but up until at least a year ago Norwich Union covered you for climbing in the UK at no extra cost - it's a specific question on their web form. So as long as you get adequate extra cover for any foreign trips you should be okay. My wife and I have our mortgage covered for less than a tenner a month.

In reply to james oswald: Think about it. What's the point of taking out insurance if you won't be covered against the greatest risk?

In reply to johnSD:

Sorted. Got a policy with Norwich Union. No extra cost if climbing in the UK. I'm planning to go abroad to climb, but will get separate insurance with the BMC if and when I do.
Thanks!

In reply to AndyM-LVB:
Please be aware that the BMC Overseas Travel Insurance policies provide Capital Benefit ( due to Accidental death) of £5,000 only....this may not cover a mortgage..!
Suggest contacting Summit Financial Services for increased cover

Here's a question for underwriters: What is more dangerous - going climbing every weekend and staying fit or sitting in front of a television, overeating and dying young of a heart attack?

In reply to PW:
When I got mortgage cover years ago there were specific questions about climbing. Climbing "with ropes" was deemed more expensive to cover than climbing "without ropes". I know which scares me most but then I'm not an underwriter. Or undertaker.

In reply to PW:

We rate in different ways for both and have screening tests to identify those at greater risk.

Also, you have to bear in mind that standard premium rates (blame the Actuaries for this) will have to increasingly evolve to match mortality trends...

It's all about pools of risk...

In reply to PW:

Bear in mind that you can only really charge different premiums for people you can identify differences between.

Climbing is easy. Statistically some forms of climbing increase your likelyhood of death or serious injury and so you get charged more for them.

Smoking is easy too. So is differential charging depending on your age or sex.

Working out how likely someone is to die of a heart attack in later life is difficult to do except through crude methods or through individual examination. Many companies rate on BMI for example, and most will haul you in for a medical exam if you want high enough cover. Also - most people don't have life insurance in their later years - climbing might make you die in a period when they would have to pay out, whilst a heart attack will occur late on in the cover period or after the cover has ended.

Regarding the OP - BMC medical cover will cover you for 5 grand, as someone has said. Thats not life insurance, thats funeral costs and the cost of getting your body home.

Also, bear in mind that if youve told them you climb only in the UK and you climb abroad then you have technically non-disclosed and if they find out they could in theory reduce your payment even if you die in an accident in the UK.

Sounds unfair, but if they had known you were the type of climber who climbed abroad as well they would have covered you for less payout for the same monthly premium. The question about whether you climb abroad or not isn't just about whether you climb abroad or not, its a question whose answer puts you in a group of people who are more likely to make a claim wherever it happens to be than the people in the group who tick the climbing in the UK box.

AJM

In reply to AndyM-LVB:

Im in the process of setting up life insurance for 150k with Norwich Union, things have stalled however as they say they will offer standard cover for £32 per month as long as i climb UK 4c or below, If i climb 5a or above its £55 per month. I tried to explain theres a big differnce between an HVS and an E7 but thats how they categorise things.
My broker reckons this is still the cheapest cover i'll get?

In reply to AndyM-LVB: Just a thought -when I arranged cover for myself I insisted that they wrote me a letter stating that it covered climbing - I thought it was too easy for a broker to say that I did, as I wouldn't be around to argue the toss if a claim was made!

In reply to AndyM-LVB:

I'm covered through Bupa. When I told them I was a climber they came back and asked me specific questions about what grades I was leading in both trad and sport and if I was planning to climb outside the UK. I told the truth. Not cheap but I'm covered.

In reply to Toby Kluth: I'm covered for 120k with Norwich union. I'm 49, non smoker, but I think its the Alpine and ice climbing thats bumped my premium up.

In reply to Ian Black: Forgot to say £47 per month.

In reply to AndyM-LVB: we went through summit. covered on death for me or wife, both to climb, £18/month (for both of us, not each)

In reply to AndyM-LVB:

Another vote for Summit....contact David Hallam "d.hallam @ suttonsifa.co.uk" ( Summit Financial Services ). Very helpful chap who understands that most of the questions that are asked by the insurance companies are bullshit!

Bill

In reply to AndyM-LVB:

yeah i use summit also. fantasic, and nice people too.