Do I need life insurance because I climb?
NO! You need life insurance like every other person who has commitments , has debts, has responsibilities or who has a family and wishes to provide for them.
Many people enquire about life insurance or financial protection because they may be due to go on a trip to the Alps or have a planned expedition to the Himalaya and consider that they may be at a higher risk of injury or death.
However they have not taken into account other factors which may also pose a risk and yet are not considered ”extreme” such as driving, cycling, everyday living or health. Indeed it could be argued that you are more likely to have an injury driving up the A9 rather than whilst climbing on the ridge on Skye! As such, the fact that you climb becomes less relevant than your personal circumstances when considering the need for Life Insurance.
Life Insurance provides a lump sum in the event of your death and therefore would provide financial protection for your dependants should the worst happen. There are a number of circumstances which should be considered and each has an appropriate form of policy.
A mortgage or loan should be covered by life insurance and also ideally critical illness cover. You don’t want to leave a debt for your family or find yourself in a position not being able to pay your mortgage in the event of serious illness.
Similarly, you ought to be able to leave a lump sum for your family to replace your income.
Most importantly you should keep your climbing skills up to date, climb safely and look after yourself!