Compare Life Insurance Companies That Insure Pro Fighters (2022)
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Compare Life Insurance Companies That Insure Pro Fighters (2022)
[su_box title="Important Things to Know" style="default"] There aren't many life insurance companies that won't insure pro fighters but they might charge more Pro fighters should choose short-term life insurance policies until they retire from fighting Life insurance rates for pro fighters will vary depending on the type and frequency of fights [/su_box] While a healthy lifestyle ...
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- There aren’t many life insurance companies that won’t insure pro fighters but they might charge more
- Pro fighters should choose short-term life insurance policies until they retire from fighting
- Life insurance rates for pro fighters will vary depending on the type and frequency of fights
While a healthy lifestyle tends to yield affordable life insurance rates, dangerous hobbies do the opposite. For example, martial artists may need to look for life insurance companies that insure pro fighters to avoid overpaying for life insurance.
Despite being in excellent health, fighters can expect to pay more for life insurance. This article will highlight where to get life insurance for fighters, what you’ll need, and why you might pay more for life insurance if you’re a fighter.
In moments you’ll have everything you need to know about life insurance companies that insure pro fighters. For now, enter your ZIP code to get free quotes from the top life insurance companies near you.
Table of Contents
What are the options for life insurance companies that insure pro fighters?
You can expect a different process when shopping for life insurance for professional fighters. Not all life insurance companies are willing to cover fighters due to the dangers associated with fighting.
It’s not entirely clear which life insurance companies will cover pro fighters because there is a myriad of variables to consider for the insurance company. For example, they will have to assess risk by determining the following:
- Type of fighter (Jui Jitsu, Mua Tai, Wrestling, Boxing, Mixed, Etc.)
- Frequency of fights
- Competition level
- Weight class
- Overall health
The factors above combined with traditional life insurance underwriting guidelines tend to dictate overall prices for life insurance. Of course, the policy you choose will also be of major importance. As of current, there aren’t any specific life insurance companies that strictly offer life insurance for pro fighters.
Can fighters get coverage?
Despite the potential for higher life insurance quotes, fighters can typically get life insurance coverage. How can you get life insurance as a fighter? Getting life insurance as a fighter often depends on your fighting type and level.
For example, fighters on a championship level might have sponsor-related or employer-related life insurance options. Zuffa, a UFC affiliate, offered their contracted fighters insurance to help provide financial support.
That said, life insurance for pro fighter’s leagues may or may not offer these amenities. If they don’t, you should still be eligible for life insurance from a traditional life insurance provider. There are a handful of different options for pro fighters’ insurance if they don’t get group life insurance.
How do you get life insurance as a fighter?
As mentioned above, there tends to be some variance in life insurance policy options and prices for fighters depending on what type of fighting they do and how often. For anyone with a dangerous occupation, there will be different classifications that ultimately determine your rates.
There are four life insurance rate classes which include preferred plus, preferred, select, and standard. These classifications could vary for fighters from company to company based on the aforementioned variables. This is where it becomes increasingly important to get quotes from multiple providers.
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How do life insurance companies usually treat professional fighters? It’s really challenging to determine how life insurance providers view and treat pro fighters beyond knowing that they would likely classify with a high risk.
With so much uncertainty, a couple of life insurance policies are typically suggested for fighters, term life insurance and no exam life insurance. Term life insurance tends to be more affordable for healthy adults while no exam life insurance could be preferred for those with underlying health conditions or other concerns.
If you are a fighter looking for life insurance, it would be a good idea to get no exam life insurance quotes to compare with your traditional term life insurance quotes. There may or may not be a major difference between the two, depending on the company.
How much does life insurance cost for pro fighters?
Again, it’s hard to determine exactly how expensive life insurance will be for a professional fighter. There are some claims that suggest professional fighters will pay a normal price plus a flat rate of five dollars per month, but there is little evidence to support that.
Sample 10-Year, $250,000 Life Insurance Rates for Pro Fighters
| Age | Prudential | State Farm | Pacific Life | MassMutual | AIG |
|---|---|---|---|---|---|
| 25 | $18.16 | $20.02 | $10.25 | $11.10 | $10.34 |
| 30 | $19.03 | $20.67 | $10.37 | $11.10 | $10.34 |
| 35 | $19.25 | $21.74 | $10.61 | $11.30 | $11.67 |
| 40 | $21.00 | $25.67 | $12.68 | $13.70 | $13.81 |
The above life insurance rates are for healthy male adults. These rates would be the absolute cheapest rates available, so pro fighters can expect a slight increase at the least. Whether there is a five-dollar flat increase or a percent increase, these rates should serve as a baseline.
Fighting is considered a high-risk occupation that typically carries a higher life insurance premium. There are a few things to note when shopping for a policy.
- Fighters should shop for a short-term life insurance policy
- Compare term rates and no exam life insurance rates
- Consider a waiver of premium or accelerated benefits rider
First thing’s first, fighters don’t need to commit to a long-term policy while they are still actively fighting. Why? Your rates will be more expensive when you fight, but not once you retire. Most fighters don’t compete for 30 years, so it doesn’t make sense to buy a 30-year term life insurance policy.
We’ve already discussed the fact that term and no exam rates may or may not differ greatly. Be sure to get quotes for both. Otherwise, life insurance riders could be an additional fee but could help save your family from a financial crisis, according to the Insurance Information Institute.
Think about it. Why do you need life insurance if you’re a fighter? It’s typically because you don’t want to burden your family with funeral expenses or loss of income. If you become disabled due to an incident during a fight, you could put your family in a similar position.
Some riders allow you to use a portion of a death benefit to pay medical expenses while others let you skip payments if you are disabled. These life insurance riders might be worth looking into.
Life Insurance Companies That Insure Pro Fighters: The Bottom Line
Professional fighters have somewhat of a unique process towards buying life insurance. It’s important to invest in a short-term policy that has any riders you find necessary to protect your family. You’ll also want to compare term life insurance and no exam rates to make sure you aren’t overpaying.
By now, you should have a better understanding of how to navigate life insurance companies that insure pro fighters. Before you go, enter your ZIP code to get free quotes from the best life insurance companies in your area.
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Compare Life Insurance Companies That Insure Pro Fighters (2022)
[su_box title="Important Things to Know" style="default"] There aren't many life insurance companies that won't insure pro fighters but they might charge more Pro fighters should choose short-term life insurance policies until they retire from fighting Life insurance rates for pro fighters will vary depending on the type and frequency of fights [/su_box] While a healthy lifestyle ...