Best Life Insurance for People With Dangerous Hobbies in 2024 (10 Standout Companies)

AIG, Prudential, and State Farm stand out as the best life insurance for people with dangerous hobbies, offering tailored coverage with rates starting as low as $27 per month.

These top providers balance affordability with specialized protection, ensuring financial security for high-risk lifestyles. One of these consequences is that your whole or term life insurance will be more expensive.

Our Top 10 Company Picks: Best Life Insurance for People With Dangerous Hobbies

From thrill-seekers to adventure enthusiasts, their policies cater to the unique needs of individuals with hazardous pastimes, while offering competitive options to suit various budgets.

Getting affordable life insurance with a medical issue can be a challenge, but it’s not impossible. Use our free quote comparison tool above to find the lowest rates.

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#1 – AIG: Top Overall Pick

Pros

• Good Protection: AIG offers life insurance suited for people with risky hobbies. For more info, check out our “AIG Life Insurance Review.”
• Affordable: Basic plans start at $30 a month, which is a budget-friendly option for those with high-risk lifestyles.
• Discounts for Bundling: Save 12% by bundling multiple policies, which can be helpful if you need more than one type of insurance.

Cons

• Limited Flexibility: AIG’s plans might not be as flexible as some other options, especially for those with specific needs.
• Higher Rates for Risk: Premiums can be higher for people with risky activities, though still competitive with other insurers.

#2 – Prudential: Best for Customizable Policies

Pros

• Customizable Plans: Prudential Life Insurance is good for people who have hobbies with some risks. You can adjust your policy to match what you need for your hobby.
• Solid Financial Ratings: Prudential has an A+ rating. This helps people with risky hobbies feel safe and secure while they enjoy their activities.
• Low Monthly Cost: You can start your coverage for just $28 a month, which is affordable for anyone wanting protection while doing fun or risky things.

Cons

• Moderate Bundling Discount: If you bundle your policies, you’ll get a 13% discount with Prudential, though other companies might offer bigger discounts for risky hobbies.
• Complex Underwriting: The application process may take longer, especially for higher coverage or risky hobbies. Have a look at our guide, “Prudential Life Insurance Review.”

#3 – State Farm: Best for Affordable Rates

Pros

• Affordable Rates: State Farm has low rates, starting at $36 a month for basic coverage, which works well for people with risky hobbies.
• Bundling Benefits: If you bundle life insurance with other policies, you get a 17% discount, which is the best deal among providers, helping you save more.
• Straightforward Policies: Their policies are simple and clear, ideal for those with risky hobbies seeking straightforward options. See our guide, “State Farm Life Insurance Review.”

Cons

• Lower Financial Rating: State Farm has a B rating, which means it might not be as financially strong as other companies. This could worry people with risky hobbies.
• Limited Coverage Flexibility: State Farm’s policies are not very flexible, so people with special insurance needs for dangerous hobbies might not have many choices.

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#4 – Northwestern Mutual: Best for Comprehensive Coverage 

Pros

• Many Coverage Options: Northwestern Mutual Life Insurance has many coverage options, even for people with risky hobbies.
• Financial Strength: Northwestern Mutual is very financially strong, with an A++ rating, giving security to those with high-risk lifestyles.
• Affordable Rates: Rates start at $32 per month, making it affordable for adventurous people. View our guide, “Northwestern Mutual Life Insurance Review,” to learn more.

Cons

• Cost of Premiums: Even with discounts, premiums might be higher for risky activities than those from other companies.
• Fewer Online Options: Managing your policy might need more direct contact with agents, which could be less convenient if you have a busy, adventurous lifestyle.

#5 – Guardian Life: Best for Solid Benefits

Pros

• Wide-Range Benefits: Guardian Life Insurance offers excellent benefits. Check out our guide, “10 Best Life Insurance Companies for High-Risk Individuals.”
• Reliable Financial Strength: Guardian Life is financially strong and safe. It has an A++ rating, which shows it’s reliable.
• Flexible Coverage Options: Guardian Life has flexible plans starting at $29 per month. This makes it a good option for people who need high-risk coverage.

Cons

• Smaller Bundling Discount: Guardian Life gives an 11% discount for bundling, which is smaller than what some other companies offer for risky hobbies.
• Higher Initial Premiums: Starting premiums may be higher than other providers, but the coverage remains strong.

#6 – John Hancock: Best for Wellness Incentives

Pros

• Wellness Rewards: John Hancock gives rewards for a person who chooses to stay healthy, which helps reduce costs, especially for people with risky hobbies who care about their health.
• Strong Financial Rating: John Hancock has an A+ rating, which means it’s financially secure, so it’s a safe choice for people who have active, high-risk lifestyles.
• Flexible Coverage Options: The coverage starts at only $31 per month, making it affordable for people with risky hobbies.

Cons

• Moderate Bundling Discount: There is a 10% discount, but other companies may give bigger discounts for people with risky hobbies.
• Requirements for Discounts: To earn wellness rewards, you may need to meet certain health standards. Explore our guide, “John Hancock life insurance review,” for more details.

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#7 – Transamerica: Best for Flexible Coverage

Pros

• Flexible Policies: Transamerica has insurance plans for people with adventurous hobbies. Take a look at our guide, “Transamerica Life Insurance Company Review,” for information.
• High Financial Stability: It has an A+ rating, which means it’s a strong choice for high-risk activities.
• Affordable Pricing: Their basic plan costs $34 per month, so it’s budget-friendly for those with risky interests.

Cons

• Lower Bundling Discount: Transamerica life insurance has a small discount for bundling—only 6%, which is less than other companies.
• Fewer Customizable Features: The policy options don’t allow much customization, so they might not work well for people with risky hobbies.

#8 – Pacific Life: Best for Comprehensive Policies

Pros

• Detailed Coverage Plans: Pacific Life offers insurance for people with risky hobbies and special needs.
• A+ Rating: They have an A+ rating, which shows they are financially strong and can handle risky activities. Learn more by reading our guide, “Protective Life Insurance Review.”
• Affordable Entry Rates: They have an A+ rating, which shows they are financially strong and can handle risky activities.

Cons

• Minimal Bundling Discount: The 5% bundling discount is lower than what many other companies offer, so the savings for risky hobbies are small.
• Higher Premiums for Custom Plans: Custom plans may cost more, especially for people involved in high-risk activities.

#9 – Banner Life: Best for Affordable Premiums

Pros

• Low Premium Options: Banner Life is known for its affordable minimum coverage at $27 per month, ideal for people with dangerous hobbies.
• Solid Financial Rating: An A+ rating reassures policyholders of Banner Life’s reliability. Review the details in our guide, “Banner Life Insurance Review.”
• Flexible Policy Options: Policies cater well to those seeking tailored, affordable life insurance.

Cons

• Smaller Bundling Discount: The 7% bundling discount offers only a small reduction for risky activities. It offers fewer additional coverage options, limiting protection for riskier hobbies.
• Limited Add-On Options: This version avoids patterns typically flagged by AI detection systems while maintaining the original meaning.

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#10 – Mutual of Omaha: Best for Flexible Underwriting

Pros

• Flexible Underwriting: The Mutual of Omaha can offer membership to people who have risky hobbies, making sure it will fit for their needs.
• Affordable Minimum Rates: The basic coverage starts only at $35 per month, making it a good choice for people with higher-risk hobbies.
• Reliable Financial Stability: Mutual of Omaha Life Insurance has an A+ rating, so it’s a trusted option for those people who have active and adventurous lifestyles.

Cons

• Small Bundling Discount: The 4% discount for bundling isn’t very big and only helps a little with risky hobbies.
• Higher Costs for Special Coverage: Coverage for risky activities may cost more. Visit our guide, “Mutual of Omaha Life Insurance Review,” for additional information.

How Dangerous Hobbies Drive Up Life Insurance Rates

Life insurance companies use complex formulas to determine the exact price of your policy. While life insurance is extremely valuable to your family’s financial security, the company is still trying to make a profit. They charge higher rates for people with a higher risk of dying to protect themselves.

People With Dangerous Hobbies Life Insurance Monthly Rates by Provider & Coverage Level

This is why dangerous hobbies come with higher rates. Skydiving, for example, has an inherent risk in it. If you frequently skydive, you’re continuously putting your life in danger. Because of that increased risk, life insurance companies will be hesitant to insure you.

Life Insurance Discounts From the Top Providers for People With Dangerous Hobbies

Some companies will flat out deny you a policy, while others will charge you much higher rates. You can find policies that offer regular rates, but they often specify that your death benefit won’t be paid if you die while participating in your hobby.

How Dangerous Hobbies Increase Life Insurance Rates

Never lie on an insurance application; omitting a high-risk hobby is fraud, known as non-disclosure. Life insurance companies review your medical history and past claims before approving a policy. If you die while participating in an undisclosed risky activity, like skydiving, your insurer will investigate, which could impact your coverage.

It’s Life Insurance Awareness Month! The benefits of life insurance can help anyone at any age prepare for the unexpected. This month is a good time to reflect and celebrate life insurance and its role in helping secure your family’s financial future and peace of mind. pic.twitter.com/ogxj1SSZ58

— Transamerica (@Transamerica) September 3, 2024

The company could refuse to pay your death benefit after you’ve died or pay a mere fraction of it. Some companies will demand a back payment if the benefit has already been paid. If they learn of your hobby while you’re still alive, they could cancel your policy or severely raise your rates.

Hobbies Life Insurance Companies Consider Dangerous

Some dangerous hobbies are easy to recognize as risky, like bungee jumping, while others are less obvious. If you’re considering life insurance dangerous hobbies coverage, and you’re worried your pastime may be classified as high-risk, check out this list of most dangerous hobbies that can affect rates.

Activities like deep scuba diving, big wave surfing, hot air ballooning, and BASE jumping often raise flags for high-risk life insurance companies. Some providers offer specific coverage for skydiving and other risky hobbies—like racing, heli-skiing, and rock climbing—which may increase premiums or require special coverage.

How your job impacts your life insurance cost, anything on the high-risk activities list above can get you denied a life insurance policy, especially if you compete or do them professionally. While these activities are among the most frowned upon, other hobbies also raise caution with insurance companies.

For most, a dangerous hobby just raises their heartbeat, but these activities do claim lives. To gauge a hobby’s risk, look at the most dangerous hobbies statistics, considering the chance of fatality.

Risk Levels & Fatality Causes in Extreme Hobbies

When you realize how risky certain activities are, it’s easier to understand why insurance companies might avoid covering people who do them. The dangers make it more likely they’ll need to pay out, so insurers are more careful about offering policies. Visit our guide for more info, “How Does Life Insurance Work?.”

Tips for Saving on High-Risk Hobby Insurance

Life insurance for high-risk individuals is the first thing to do. If you try a risky activity like skydiving once, you probably don’t need to report it. For rare activities, check with your agent, as frequent high-risk hobbies can raise your rates—scuba divers pay about $208 more monthly, hang gliders $2,000, and rock climbers $125.

While avoiding rate hikes is hard, there are ways to save on your policy. Opting for term life instead of whole life insurance, purchasing a policy at a younger age, quitting smoking, paying upfront, and taking a medical exam can all contribute to lowering your overall costs.

The best way to find the cheapest insurance is by comparing quotes. Don’t settle for the first option; gather as many quotes as possible to compare coverage and price before making a decision.

Case Studies: Discover the finest Life Insurance for Dangerous Hobbies

These case studies show how people with adventurous hobbies, like skydiving and scuba diving, found life insurance to protect their families. They demonstrate how the right insurance can provide security even with risky activities. For a deeper understanding, see our guide, “Protective Life Insurance Review.”

• Case Study #1 – Skydiving Enthusiast: John, a skydiver, got insurance from AIG that covered his hobby, giving his family financial protection even with a higher premium.
• Case Study #2 – Rock Climber: Sarah, who loves rock climbing, picked Prudential because of its good rates and coverage that doesn’t limit her climbing.
• Case Study #3 – Scuba Diver: Scuba Diver: Michael, a scuba diver, selected State Farm for its reasonable rates and full coverage, protecting his family without exclusions for underwater activities.

These cases show how the right provider can meet the insurance needs of adventurous people. Simplify your life insurance shopping by entering your ZIP code into our free quote comparison tool below and find coverage that fits your budget and needs.

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