Insurance

What Is High Risk Life Insurance for the Adrenaline Junkie?

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What is life insurance?

When an insurance company has a policy with an insurer and the policy states that upon their death they have to pay a designated amount to a specific individual this is known as life insurance. In order for the life insurance company or insurance company to pay this designated amount the insurer must be current and up-to-date on their monthly premium payments or have paid the premium up front. The life insurance policy has to be current and up-to-date as well. When it comes to the beneficiary it can be one person or the policy payout can be split between multiple people. There are also many different stipulations that can be written inside have a life insurance policy such as the policy will only pay out for it natural deaths or accidental deaths. There are different policies available for individuals who engage in a high-risk lifestyle as well. Some bonus expenses that are included in life insurance policies are things such as funeral expenses.

What Is An Adrenaline Junkie

An adrenaline junkie is defined as an individual who enjoys any activity that is dangerous and can cause death if a mistake is made. Adrenaline junkies crave doing thrilling and intense activities that can cause them to have an adrenaline rush. Adrenaline junkies are also known as adventurous and thrill-seekers. The types of activities or sports that adrenaline junkies usually enjoy partaking in are things such as skydiving and white water rafting. They also usually gravitate toward adventurous jobs such as a policeman, firefighter, or any type of emergency rescue. You could almost compare in an adrenaline junkie to an individual who was on drugs who is chasing a high because these individuals are constantly chasing the adrenaline rush.

The Traits Of An Adrenaline Junkie

There are certain traits that thrill-seekers or adrenaline junkies exhibit and the main one is that they are usually drawn to any activity that provokes a thrill or natural high. Other traits that thrill-seekers or adrenaline junkies exhibit are a desire for complexity, spontaneity, impulsivity, curiosity, creativity, and a flexibility and openness to change. Here are a few of the activities the thrill-seekers or adrenaline junkies usually partake in are motorcycle racing, very tall roller coasters, base jumping, storm chasing, or shark diving. All of the above are the traits that thrill-seeker or adrenaline junkie exhibit. Some of the activities that they usually involve themselves in are listed but there are many more types of activities that they are involved in outside of what is listed in this article.

What Is High-Risk Life Insurance

The proper definition of high-risk life insurance is life insurance that is provided to individuals that have a profession or a hobby that puts them in life-threatening situations on a regular basis. High-risk life insurance is not the same as regular life insurance this insurance is specific to individuals who live a high-risk lifestyle. Outside of living a high risk lifestyle life insurance companies consider one other type of individual as high-risk and these are individuals who have bad health such as extreme obesity. If a life insurance company labels individuals as high-risk because of their activities such as jobs, hobbies, or bad health they will have to pay higher rates in order to get life insurance coverage.

What Effect Does High Risk Lifestyles Have On Life Insurance Policies

Individuals who are considered high risk not only experience higher rates on their life insurance policies but there are also coverage limitations that they can encounter as well. In some extreme cases some life insurance companies will deny coverage altogether. There are limitations on the amount of the policy an example of this is that individuals with high-risk behavior or bad health may only be able to purchase a policy for up to 200,000 dollars and you have a normal individual who can get up to a million dollars in coverage. So to individuals who are thrill seekers they must take this into consideration when they are trying to purchase life insurance to protect their family.

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