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Most traditional life insurance companies treat SCUBA diving as a risky sport. Scuba diving is lumped in with other “hazardous sports and hobbies” such as hang gliding, skydiving, motor racing and mountain climbing.
If a scuba diver is applying for life insurance with a traditional, fully underwritten, life insurance company they will be asked to complete an additional questionnaire related to their diving activities. The answers to these additional questions may result in limitations to their coverage or an out-right decline of coverage.
The good news is that there is an alternative choice for scuba divers who need life insurance protection while diving, non-medical life insurance. Non-medical life insurance is different from the traditional market in that it asks a series of questions but does not require a medical exam, a note from a doctor, or blood and urine analysis. The non-medical life insurance market offers protection for many individuals who might not qualify for traditional, fully underwritten life insurance protection.
Canada Protection Plan, a provider of non-medical life insurance for more than 20 years does not ask hazardous activity questions for any of their non-medical products with the exception of their preferred plan which is a fully underwritten plan.
The cost of non-medical life insurance could be more expensive than traditional insurance, but let’s compare apples to apples not apples to oranges. If you have health or lifestyle concerns, chances are a traditional carrier will not want to offer you insurance at standard rates.
Canada Protection Plan’s maximum face amount is $300,000, the highest in no medical field and is an excellent solution for those persons needing coverage outside of the traditional insurance market for medical/health reasons or those who need full protection while they enjoy their “hazardous sports and hobbies”.
Download an application HERE to view the questions. Download a brochure HERE.