Life Insurance for Tech and Cave Diving

GLOC · October 4th, 2006, 10:13 PM

As some of you know I have a couple of kids and want to make sure that they are well provided for in the event of something going wrong, whatever that may be. Therefore I have some life insurance which should cover them for some time to come - £250k worth.

When I looked around I said that I was doing approximately 75 dives a year (did 100 including the quarry training dives) and had a max depth of 45m (limit of my TDI training). There wouldn't be an wreck penetration or cave diving.

However, now that I am planning on going to Tech 1 and might have a swim around the inside of a wreck or two, I am going to have to go back and re-assess things.

At the moment I pay in the region of £35 per month, of which I can claim another £14 back from the tax man, but that still means £21 per month. I don't mind paying that, but what are other people doing with regard to life insurance for deeper diving and cave diving as I can see that the insurance people would have a field day!

I already have DAN insurance but as far as I can see that is very good if I live, but not too hot if I pop my clogs in the depths of the ocean (or on the surface following something going horribly wrong).

I am sure I am not the only one in this situation, so if there is enough information, I will see about putting something in the library for people to refer to.

Thanks

Rob Dobson · October 5th, 2006, 01:56 AM

That sounds like a lot of money...

My dive insurance is with Divemaster and it costs about £80 a year. The depth is to my cert level (currently 60m) and says nothing about being inside a wreck.

The payout is only £60k I think so not up to the level that maybe you are looking for but still - I'd be tempted to just pay the difference into a high interest account and leave that for your kids!

Thanos · October 5th, 2006, 02:29 AM

You get what you pay. That's the reasoning of the big differnce on premiums paid by you and GLOC.

Not all terms and conditions are the same. Divesafe has no limitations on wrecks and/or depths as long as you are certified.

(An actuary is speaking )

fraser · October 5th, 2006, 10:25 AM

Quote: (Originally Posted by GLOC)

However, now that I am planning on going to Tech 1 and might have a swim around the inside of a wreck or two, I am going to have to go back and re-assess things.

I suspect Tech 1 might make you re-assess whether you want to swim around inside wrecks

Fraser.

GLOC · October 5th, 2006, 10:31 AM

I suppose then begs the question, what is a wreck penetration from an insurance point of view? Does it mean under something but still see out, a la the Scylla, or somewhere where you can't see daylight at all? If the former, I have no issues, if the latter, yes I don't do that and won't do so until I have done something like the TDI Adv Wreck Penetration course.

Rob, I know what you are saying, but paying into a savings account would take me sometime to accrue £250k and if you scale up your costs/payout to 250k it works out about the same as mine.

Or do people not have life insurance and hope that their training and skills will carry them through?

Gavin · October 5th, 2006, 11:45 AM

Fortunately for me I took out my life assurance at a time when I wasn't actively involved in diving and handn't been for 5 years and as such it did not have bearing on the premium.

My policy pays out a fixed annual "salary" of £40,000 for the life of the beneficiary.

Gavin

MarkT · October 5th, 2006, 01:09 PM

Quote: (Originally Posted by Gavin)

Fortunately for me I took out my life assurance at a time when I wasn't actively involved in diving and handn't been for 5 years and as such it did not have bearing on the premium.

You may want to read the fine print and make sure there isn't a section along the lines of 'should there be any change in your circumstances that may affect this policy you are obliged to inform us ...'

There is often a get out clause that covers material changes in the risk insured, for obvious reasons.

finbar.taylor · October 5th, 2006, 02:27 PM

I'm very interested in this as when I bougt my house 3 years ago they quoted me £20 for 91k of cover to clear the mortguage.

then asked a few questions......
them - Me
do you rock climb - yes
to what grade, D, VD, MS - E3
Ahh we'll need to talk to the under writers.

Do you scuba dive - yes
how many a year, 1-5, 6-15, 16-30, 31+ - 125-150
how deep, 5-10, 11-18, 19-30, 30+ - qualified to 100
do you dive nitrox - only for deco
how long on deco - up to 90 minutes so far but that is increasing
do you dive wrecks - yes
do you go inside them - yes
do you dive a rebreather - No not yet it's stuck in customs
Were going to ave to refer this as well I'm afraid.

3 weeks later the quote came through and it was 124 a month and excluded any diving related activity.

I've not bothered with Natwest for a quote since

Fin

October 4th, 2006, 10:13 PM	#1 (permalink)
GLOC (Online) Moderator Join Date: Nov 2005 Location: Fleet, Hants Posts: 1,963	Life Insurance for Tech and Cave Diving As some of you know I have a couple of kids and want to make sure that they are well provided for in the event of something going wrong, whatever that may be. Therefore I have some life insurance which should cover them for some time to come - £250k worth. When I looked around I said that I was doing approximately 75 dives a year (did 100 including the quarry training dives) and had a max depth of 45m (limit of my TDI training). There wouldn't be an wreck penetration or cave diving. However, now that I am planning on going to Tech 1 and might have a swim around the inside of a wreck or two, I am going to have to go back and re-assess things. At the moment I pay in the region of £35 per month, of which I can claim another £14 back from the tax man, but that still means £21 per month. I don't mind paying that, but what are other people doing with regard to life insurance for deeper diving and cave diving as I can see that the insurance people would have a field day! I already have DAN insurance but as far as I can see that is very good if I live, but not too hot if I pop my clogs in the depths of the ocean (or on the surface following something going horribly wrong). I am sure I am not the only one in this situation, so if there is enough information, I will see about putting something in the library for people to refer to. Thanks __________________ Gareth Images of Life Photography DIR Team Foxturd Travels Underwater and Further Afar If you don't have the time to do something right, where are you going to find the time to fix it? - Stephen King

October 5th, 2006, 10:25 AM	#4 (permalink)
fraser(Offline) "I'm only late on your timescale" Join Date: Nov 2005 Location: Kent, UK Posts: 463	Quote: (Originally Posted by GLOC) However, now that I am planning on going to Tech 1 and might have a swim around the inside of a wreck or two, I am going to have to go back and re-assess things. I suspect Tech 1 might make you re-assess whether you want to swim around inside wrecks Fraser. __________________ Damn it feels good to be a gangsta

October 5th, 2006, 10:31 AM	#5 (permalink)
GLOC (Online) Moderator Join Date: Nov 2005 Location: Fleet, Hants Posts: 1,963	I suppose then begs the question, what is a wreck penetration from an insurance point of view? Does it mean under something but still see out, a la the Scylla, or somewhere where you can't see daylight at all? If the former, I have no issues, if the latter, yes I don't do that and won't do so until I have done something like the TDI Adv Wreck Penetration course. Rob, I know what you are saying, but paying into a savings account would take me sometime to accrue £250k and if you scale up your costs/payout to 250k it works out about the same as mine. Or do people not have life insurance and hope that their training and skills will carry them through? __________________ Gareth Images of Life Photography DIR Team Foxturd Travels Underwater and Further Afar If you don't have the time to do something right, where are you going to find the time to fix it? - Stephen King

October 5th, 2006, 01:56 AM	#2 (permalink)
Rob Dobson(Offline) Chillin' with the ninjas Join Date: Nov 2005 Location: Oxford Posts: 536	That sounds like a lot of money... My dive insurance is with Divemaster and it costs about £80 a year. The depth is to my cert level (currently 60m) and says nothing about being inside a wreck. The payout is only £60k I think so not up to the level that maybe you are looking for but still - I'd be tempted to just pay the difference into a high interest account and leave that for your kids!

October 5th, 2006, 02:29 AM	#3 (permalink)
Thanos(Offline) New Member Join Date: Jul 2006 Location: Greece Posts: 9	You get what you pay. That's the reasoning of the big differnce on premiums paid by you and GLOC. Not all terms and conditions are the same. Divesafe has no limitations on wrecks and/or depths as long as you are certified. (An actuary is speaking )

October 5th, 2006, 11:45 AM	#6 (permalink)
Gavin(Offline) New Member Join Date: Nov 2005 Location: Coventry Posts: 57	Fortunately for me I took out my life assurance at a time when I wasn't actively involved in diving and handn't been for 5 years and as such it did not have bearing on the premium. My policy pays out a fixed annual "salary" of £40,000 for the life of the beneficiary. Gavin

October 5th, 2006, 01:09 PM	#7 (permalink)
MarkT(Offline) New Member Join Date: Jul 2006 Location: Aylesbury Posts: 233	Quote: (Originally Posted by Gavin) Fortunately for me I took out my life assurance at a time when I wasn't actively involved in diving and handn't been for 5 years and as such it did not have bearing on the premium. You may want to read the fine print and make sure there isn't a section along the lines of 'should there be any change in your circumstances that may affect this policy you are obliged to inform us ...' There is often a get out clause that covers material changes in the risk insured, for obvious reasons.

October 5th, 2006, 02:27 PM	#8 (permalink)
finbar.taylor(Offline) New Member Join Date: Feb 2006 Location: Guildford Posts: 85	I'm very interested in this as when I bougt my house 3 years ago they quoted me £20 for 91k of cover to clear the mortguage. then asked a few questions...... them - Me do you rock climb - yes to what grade, D, VD, MS - E3 Ahh we'll need to talk to the under writers. Do you scuba dive - yes how many a year, 1-5, 6-15, 16-30, 31+ - 125-150 how deep, 5-10, 11-18, 19-30, 30+ - qualified to 100 do you dive nitrox - only for deco how long on deco - up to 90 minutes so far but that is increasing do you dive wrecks - yes do you go inside them - yes do you dive a rebreather - No not yet it's stuck in customs Were going to ave to refer this as well I'm afraid. 3 weeks later the quote came through and it was 124 a month and excluded any diving related activity. I've not bothered with Natwest for a quote since Fin