Life Insurance and climbing

[telemarker]

Any fathers/climbers know the details of life insurance and climbing? Specifically, will regular, term life insurance cover roped activities? If not, what provision or ryder did you have to add to get climbing covered in your policy? I'm under the impression that most recreational activities requiring a rope are not covered. This question only just became relevant for me, as my wife and I are expecting our first. Any information would be helpful to me. Thanks.

[sobo]

TM,

This has been discussed here before. A search of the board reveals:

 

this one,

 

and this one,

 

and this one,

 

and this one.

 

I think the best discussions came out of Terminal Gravity's and Jens's threads. And listen to what rbw1966 sez in these discussions. He's in the legal biz and what he sez sure sounds like it makes sense. HTH, and congratulations on Fatherhood!

[telemarker]

Thanks so much Sobo! Though I'm reluctant to admit it, I can already tell my climbing is different now that there's a baby on the way.

[Juan]

I've got three young kids and have been climbing for 19 years and have a term policy with NY Life. It costs more than it would if I only played golf or tennis or some other God awful waste of time and money. But it's not prohibitive. I think they charge you about as much in additional premiums if you are a cigarette smoker.

 

Be aware that if you get a certain size of policy (500K in the case of NY Life), you will have to undergo a thorough physical including blood and urine testing, if you catch my drift. I was caught unaware by this little detail, but managed to get by . . . .

 

Good luck -- and good idea. Call if you need an agent referral.

 

John Sharp

[sobo]

Something else you might want to consider is supplementary disability insurance. For those employers that offer paid disability insurance to their employees, they typically do not provide for 100% income replacement (why would they? folks would claim disability and collect a full check for not showing up to work). Most pay disability at 2/3 to ¾ of your full pay once disability is established (short-term or long-term).

 

I bought a policy over 10 years ago from NW Mutual Life that makes up the difference in my employer’s disability insurance program in the event I become disabled, irrespective of the cause of the disability, which was important to me. I told the agent up front I was a climber and scuba diver, so there would be no questions. I was assured that it didn’t matter how I became disabled (didn’t ask about botched suicide attempts ). It costs me less than $20 a month, and is cash-convertible.

 

My employer-paid health insurance picks up any injuries I may receive while climbing and stuff, so life insurance is the thing now. I looked around a bit 18 months ago (shit! have I been a daddy that long already? ), but haven’t knuckled under to actually getting a policy. I should get back on that.

 

Good on you TM, for doing something about it now before Bundle-o’-Joy gets here. You won’t have much time to yourself afterwards…

[Bill_Simpkins]

life insurance = don't die.

I think the correct term is death insurance.

I have death insurance through my employer. I pay about $1 a month. They asked no questions as of my activities. Maybe check with your employer about it.

[Alpine_Tom]

life insurance = don't die.

I think the correct term is death insurance.

health insurance = not sick?

 

Yer insuring your life, just as you'd insure your car, or your house, or your health.

[telemarker]

All really good information. Juan, how much climbing did you do when your first child was born? And how much did you do with each subsequent child?

[HappyCamper]

Any input on rates? Last year I was quoted something like $500/year for a 1 mil policy. Then I filled out the supplemental form that asks about your climbing activities, which is pretty modest compared to the posters here, but the rates went up to $3,000 (Safeco). Some of you may have had policies for some time, but any one have any recent experience with quotes (i.e. maybe the insurance companies are tightening up on their risks)?

[Bill_Simpkins]

life insurance = don't die.

I think the correct term is death insurance.

health insurance = not sick?

 

Yer insuring your life, just as you'd insure your car, or your house, or your health.

car insurance = insure car.

Health insurance=insure health

life insurance=insure life? but your already dead.

fire insurance= explain that one.

flood insurance?

They call it life insurance because they sell less if it was called death insurance. Too gloomy. In any case, good luck with your endevours. Hope you find a good deal.

[Juan]

Teleman:

 

regarding the amount of climbing I did with each child, I would say that I was ramping up in difficulty/danger after our first son was born in 1996. In 1997-2002 I was really trying to push myself, and my wife was often with me. Mind you, I have never been a particularly good climber, and so we're talking rock up to 5.10 (mostly slab at that level) and alpine routes no harder than things like Forbidden E. and N. Ridges, J'Berg N.E. Butt, Ice Cliff Glacier, Shuksan N. Face, Goode N.W. Butt., Chair Peak N. Face, Tooth N.E. Slab, etc. As far as volume, I get in about 15 days per year and have done so all along. After our second and third sons were born (2000 and 2003), I found two things: (1) it is harder to justify quite as much climbing time to my wife because having all three kids for a day or weekend is a lot of work; and (2) I think much more about the impact to them and Kirsten if something happens to me in the mountains as a result of my selfish hobby. Kirsten still climbs too, and has done some pretty stout stuff for a Bellevue housewife (Canary, Outer Space, Maude N. Face in a day, Stuart W. Ridge in a day, etc.), so I have to factor that into the equation. We are fairly careful when roped together.

 

I think about this issue every day, and as a result, am doing things like backing off the E. Ridge of J'Berg this summer, even though I descended it in 1999. I'm either getting smarter about exposure, bad rock, etc., or my balls are shrinking, or both. I would also say this is an evolutionary process. I honestly don't know where it will end up, but I do know the routes/peaks I still want to do. The hardest ones in this country are things like Buckner N. Face and Triumph N.E. Ridge, for example. I have scrubbed notions of Big Four in winter, Index, Nooksack Tower, Slesse, etc.

 

I don't know if that helps or not. I suspect as your child grows older and begins to ask you questions about climbing and skiing, you will think more about the impact of your loss than you will with an infant. That certainly happened in my case.

 

Finally, regarding the cost of life insurance, I pay $55 per month for 500K in coverage on a 5-year term contract. That is probably top dollar because it is N.Y. Life.

 

Does this help?

 

Cheers, and congratulations,

 

John Sharp

Edited August 26, 2004 by Juan

[lummox]

lummox here for good time. not long time. anyone want to take out a policy on me with themslefs as benefactor?