Life insurance: swimming - drowning?

Question

I like to swim a lot and sometimes it occurs to be a dangerous activity when doing it in open sea and ocean. I thought about making a life insurance. Just in case for being calm I would like to ask. If I drawn won't they think that I'm some kind of a stupid idiot who committed suicide rather than a stupid guy that couldn`t be more careful (accident)? Because then they wont pay out to my family. Then there is no point in such a life insurance because this is the only thing I need insurance from. So no point in spending money. And I am not a professional swimmer to get a sport insurance and I mostly swim in open sea, etc... So question is about a general life insurance and insurance companies point of view... thanks in advance

Answer 1

Buy the life insurance. There will be questions on the application about avocations. If there is a question about your avocation, and you answer "Yes", there will be a small rate-up on the premium to cover the risk.

The cause of death has to be written on the coroner's report and death certificate. If you happened to drown in the first two policy years, it will be investigated, but suicide would have to be proven by the insurance company.

Answer 2

"This is the only thing I need life insurance for"?  You have somehow guaranteed that you can never die from another cause?

Answer 3

OK, as far as I can figure out, if you drown, will they think you committed suicide?  

And the answer is, the insurance company doesn't make the determination of suicide vs. accident.  The coroner does.  The insurance company will go by whatever is on the death certificate.

But, I think it's pretty amusing that you think you can't die by being hit by a bus . . . or having a sudden heart attack . . .or being mugged . . . or choking on a bagel . . . or even, that you flat out might die of old age or cancer.

Answer 4

Life insurance will cover death by drowning.  

Suicide is an exclusion in the first two years after purchasing the policy.  If you drown in the first two years the insurer would still pay out unless there was proof that it was suicide (ie coroners report, police report, etc).

So buy life insurance if you have anyone who has a financial interest in you (ie wife, kids, business).

By the way - the other common exclusion is misrepresentation.  So don't lie on the application.

Best Regards