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Life insurance is cheaper than you think (unless you're Evil Knievel)

In the NZ Sunday Star Times this week Rob Stock had a look at how "risky" hobbies and occupations impact life insurance premiums.

Some of the weightings - set by the global reinsurers and added to the premiums of people with jobs or pastimes perceived as "risky" - are pretty steep.

On the flip-side, for the majority of us who are not bomb disposal experts, stuntmen or racing drivers (preferring, as we do, the relative safety of our desks and the regular 9 to 5), the article actually emphasises how cheap life insurance is.

Consider this: a 35 year old male in good health can protect his family to the tune of $500,000 for less than $1 per day with Pinnacle Life. It’s not a pleasant thought but, should he die within the next month, his family would get half a million dollars and he would have paid out less than $30.

When you look at it like this, it’s not a question of can I afford to take out life cover, but how can I afford not to?

Check out what life insurance would cost you.

All those budding Michael Schumachers and Evil Knievels out there needn’t worry either - life insurance for employees in risky jobs is usually provided by their employers, so it doesn’t hit the pocket of the insured.

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