As with many extreme or outdoor sports, climbers can face many physical and environmental hazards whilst enjoying their sport. As a result, it is important to consider life insurance and other forms of financial protection for climbing.
Taking time to consider all types of cover is a good idea. Financial protection can be a safety net to help towards mortgage payments, bills payments, and help towards taking care of the family should, in an unfortunate circumstance, an accident happen.
What are the risks for climbing?
Risks can arise from the environment, personal skills and fitness for the challenge, such as:
- Mountain weather – thunderstorms, strong winds, rain, snow or ‘whiteouts’ that reduce visibility
- Extreme temperatures – extreme heat resulting in heatstroke on desert climbs to frostbite and hypothermia in winter mountains
- Natural temperature reduction at higher altitude
- Oxygen reduction at altitude – associated issues of acute mountain sickness, high-altitude pulmonary oedema and high-altitude cerebral oedema
- Natural environment – rock stability, rockfall and avalanche risks
- Tiredness and judgement making
- Matching skills and experience to the demands of the route
- Route finding and navigation
Climbing life insurance company
Summit Financial Services was founded, over 20 years ago, to provide financial protection for climbers and mountaineers. Services offered include life insurance, mortgage protection, income protection and critical illness cover for a range of climbing, mountaineering and many other outdoor activities.
Throughout the years, our experts at Summit Financial Services have been able to build a depth of knowledge of what climbers need in relation to life insurance and other types of financial protection.
By working with insurers, we have been able to develop questions that have moved away from a straight yes or no in relation to the question ‘do you rock climb?’. We are happy to discuss many different types of climbing such as lead climbing, bouldering, indoor climbing, sport climbing, DWS, ice climbing, Scottish Winter climbing and much more. By asking more detailed questions, such as type of climbing, grade of climbing, location, altitude and style we can discuss cover that can more accurately meet your individual needs.
Applying for life insurance for climbing
As Summit Financial Services specialise in climbing, we understand that there are different climbing styles and activities. We work with the British Mountaineering Council and Mountaineering Scotland so that we can understand the risks present in climbing and use this knowledge to inform discussions with insurance companies and underwriters.
When you apply for your life insurance, our climbing experts will discuss your type and level of climbing, geographic location of climbing and altitude limits of your current climbing and aspirations. As with any enquiry for life insurance, we will need to ask some personal questions to better understand you, your climbing and your life, such as:
- What is your current occupation?
- Do you work outdoors professionally or as an outdoor instructor?
- What type of climbing do you participate in?
- What are your climbing grade/s (e.g., sport grade, trad grade, French grade, UIAA grade, Alpine grade, Scottish Winter Grade, Via Ferrata grade)?
- What are the geographical locations of your climbing (e.g., UK, Europe, Worldwide)?
- What is your maximum climbing altitude?
- Do you have Sports Governing Body membership (e.g., British Mountaineering Council, Mountaineering Scotland or Mountaineering Ireland)?
- What is your current income (if enquiring about cover for Income Protection)?
- Further to questions about your lifestyle, health and any pre-existing conditions
Finally, we’ll discuss the amount (£) of financial protection you require, including:
- The duration of policy – number of years cover is required for
- The type of policy you required – e.g., increasing, decreasing or level term cover
The combination of your climbing, lifestyle, health, recreation, occupation and other factors (such as those detailed above) will assist in the determination of the financial protection options that will be available and the associated premiums.
Contact us today for life insurance for climbers
As we are climbing specialists, even if you have a policy in place elsewhere, we will be happy to hear from you even if this is only to provide you with the peace of mind of knowing how your cover and premiums compare with current market products.
To discover more about the benefits of cover for climbers please call and speak to an experienced climbing adviser today.
Life insurance is crucial for climbers because climbing involves inherent risks and potential dangers. The nature of the sport increases the chances of accidents, injuries, and unfortunately, even fatalities. Life insurance provides financial protection for climbers and their families by offering a financial safety net in the event of an untimely death. It can cover funeral expenses, outstanding debts, mortgage payments, education costs for dependents, and other financial obligations, ensuring that loved ones are taken care of in the event of a tragedy.
Yes, climbers are generally considered high-risk individuals by life insurance companies. Climbing involves exposure to extreme conditions, unpredictable weather, challenging terrains, and the potential for accidents or falls. These factors increase the risk associated with insuring climbers. Insurance providers may charge higher premiums or impose certain exclusions or limitations on coverage for climbing-related activities. However, it’s still possible to obtain life insurance tailored to climbers, although it may require more specialized policies or additional underwriting.
When selecting a life insurance policy for climbing, climbers should consider the following factors:
Coverage, Exclusions, Premiums, Riders, Policy duration, Insurance company reputation and the Underwriting process