So during a short lunch break, we ended up watching a Moto GP race that took place in 2009 where Rossi and Lorenzo had an epic battle for the first place. Whether you are a fan of motorsports or not I highly recommend watching this showdown as it demonstrates skill, determination, and human will.
After watching this clip I realized that there is a higher risk of being a motorcycle rider and the importance of life insurance for motorcycle riders. Most life insurance companies will charge an additional premium for anyone with a higher than normal risk level. This includes people with certain illnesses, smokers, pilots, skydivers, scuba divers and more. Surprisingly there is absolutely no additional charge for being a motorcycle rider. You can apply for a plan and qualify for the best rating without being rated a higher risk. The company still will check your motor vehicle report and if there is any violation, you can be rated as a higher risk but this applies to car drivers as well. The following are some key points from this article;
- Life insurance companies will pay the claim if you died in a motorcycle accident.
- Life insurance companies don’t care if you ride a motorcycle unless you do it professionally.
- If you haven’t visited your doctor in a good minute and you believe your health has gotten worse then you should definitely go the no medical exam route.
- If you find yourself with no health conditions but you are pretty busy then you should still go down the no medical exam route because you will be happy to know that you can get life insurance coverage quicker than 6-8 weeks. You can qualify for no medical exam policy as well for fast approvals.
- One of the things we get a lot are people who state the fact that they ride their Harley motorcycle when asked if they partake in any hazardous activities. NO! Granted, it is a dangerous hobby but honestly, if the insurance companies don’t think so don’t bother telling them. However, if you race motorbikes then you will have to state that because it is very dangerous and sadly insurance companies will raise your premiums. The point of all of this is to not share anything unless you are asked.
- You can choose a no medical exam term life insurance policy and finish your application process in less than 15 minutes!
Will the company write the check?
If you die in a motorcycle accident the life insurance company will pay out a claim so you don’t have to worry about the claim being denied. What companies don’t cover is fraud and suicide within the first two years of the policy start date.
Getting life insurance if you ride a motorcycle
If you are looking for life insurance then your wife probably told you that you need life insurance if you want to continue riding your motorcycle, but hey can you blame her? Sadly not everyone is an amazing driver like you! The great news is that life insurance companies don’t care whether you ride or not. However, for anyone who is a smoker or takes multiple medications the rates will be much higher than average.
No medical exam life insurance
Like we mentioned above if you haven’t visited your doctor in a good minute and you believe your health has gotten worse then you should definitely go with simplified issue plans.
If you find yourself with no health conditions but you are pretty busy then you should still go down the simplified issue route because you will be happy to know that you can get life insurance coverage quicker than 6-8 weeks. You can also secure a plan without a need for an exam. No medical exam life insurance is exactly what the name says, it’s a life insurance product that doesn’t require you to undergo a medical exam in order for you to receive coverage. However, there are death benefit caps that some companies have and that varies from $250,000-$500,000. The fact that no medical exam life insurance is convenient and makes it very appealing for many of our clients who are typically busy bodies.
Don’t say too much!
One of the things we get a lot are people who state the fact that they ride their Harley motorcycle when asked if they partake in any hazardous activities. NO! Granted, it is a dangerous hobby but honestly, if the insurance companies don’t think so don’t bother telling them. However, if you race motorbikes then you will have to state that because it is very dangerous and sadly insurance companies will raise your premiums. The point of all of this is to not share anything unless you are asked. Always be honest but when they ask because as you already know honesty is ALWAYS the best policy but again only if the information is specifically requested.
But why don’t life insurance companies penalize you?
This is a great question and it all goes down to the life insurance companies reading statistics. It does seem a little silly when companies ask about scuba diving in specific and skydiving as dangerous or hazardous activities but it makes sense because of the statistics. Which is odd because motorcycle driving is considered dangerous still and there are pretty big numbers in statistics but it is overlooked by insurance companies so we will take it! It’s one of those lucky things I guess, like getting the best cake ever and still being able to eat it!
If you already have a life insurance policy…
You may already have a life insurance policy in place and maybe you are looking for additional coverage because your needs have changed. Well, you can have as many policies as you like as long as they don’t exceed about 15 to 20 times your annual income. If you get more life insurance, then you can ask your wife for a second bike for being patient and understanding! You can choose a no medical exam term life insurance policy and finish your application process in less than 15 minutes and get coverage between 24-48 hours!
Work with us!
If you participate in professional motorcycle racing the companies will rate you up with certain surcharges. In this case you should work with an agency that knows where to apply for best rates and chances of approval. Here at InsureChance, we do all the leg work for you so you no longer need to wonder who to work wiht. Let us do all the shopping around for quotes on your behalf for FREE as well as filling out your application! That way you can get back to doing what you love to do with the ones you love by your side. Give us a call today and let us get you covered as quickly as possible.
I encourage all motorcyclist to ride responsibly and get some form of life insurance in place. If you have any questions comment below or call us at 888-492-1962. Welcome to InsureChance!
You can also compare Term Life rates online or Skip the Medical Exam.
