Planes and Sailing


Many families continue to be left destitute at the death or disability of a life assurance policyholder simply because the policyholder failed to tell the truth about him- or herself to avoid paying higher premiums.

Facts generally regarded as material include age, the medical history of the policyholder and his or her family, current state of health, financial status, occupation and recreational pursuits

The majority of medical schemes and life insurance companies in South Africa view extreme athletes as higher risks then the general public. It is for this reason that premiums are usually higher and sometimes benefits are excluded.

It is generally accepted that the applicant knows more about the risk to be insured than the insurer. For this reason, the law compels applicants to honestly disclose all information likely to influence the judgment of the insurer when determining appropriate policy terms and premiums. It is an unfortunate fact that majority of people who are involved in extreme sports are not even aware of what the terms and conditions of their policies are.

Since life companies usually detect material non-disclosure and misrepresentation, it is far better for policyholders to pay the appropriate premium and have certainty that their death or disability benefits will be paid out when they die or become disabled.

To make sure that there are no hidden clauses in your insurance contracts and that you will be paid in the event of a claim please contact Extreme Insurance.

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