While many adults are focused on improving their health or maintaining a healthy lifestyle, some adults are true athletes and are the picture of health and well-being. If you fall into the latter group, you may pay close attention to your nutrition, focus on getting a healthy amount of quality sleep every night and exercise for many hours each week. Some athletes take these or similar steps in order to live a longer, healthier life. Others may compete at a recreational, amateur or professional level in their preferred sports. Regardless of which classification of an athlete you fall under, you understandably anticipate living at least several more decades with minimal health concerns.
On the other hand, you may have heard that most adults need to purchase life insurance. There are not usually caveats or footnotes for the recommendation which state that life insurance is not necessary for athletes. With a closer look at why life insurance for athletes is needed and why it may be advantageous to purchase coverage now, you may be well on your way toward getting the coverage that will benefit your loved ones in the future. Getting life insurance for healthy people in the prime of their lives is much more common than you may think, and it has several big benefits.
Why Healthy, Active Adults Need Life Insurance
There are several reasons why adults in good physical shape should purchase life insurance. These include:
- To cover their funeral and burial expenses
- To pay off debts that they leave behind
- To provide financial support to dependents
- To leave a legacy to heirs
If you are like most adults, at least a couple of these reasons may be applicable to your life. However, you understandably may think that buying life insurance for athletes is not financially worthwhile. You may not anticipate passing away anytime soon, so you may believe that your funds would be better spent on something other than a life insurance premium payment.
Some health conditions, such as diabetes, heart disease and some types of cancers, are more common in individuals who lead a sedentary lifestyle and who are obese or overweight. However, these conditions can develop in athletes, and athletes are not immune to many other serious and potentially fatal health conditions. In addition, athletes may pass away as a result of an accident related to their sport, a car accident or many other things. The unfortunate reality is that anyone could pass away at any time regardless of the steps that they take to remain healthy. If any of the above factors may apply to your life, you should take necessary steps to address them through the purchase of life insurance.
How Life Insurance Companies Determine Rates and Eligibility
Before you purchase a new life insurance policy, it makes sense to learn how pricing is determined. There are numerous types of policies that each have different rates. For example, term life is usually more affordable than permanent life insurance. The coverage benefits and the length of the term also play a major role in coverage premiums. Life insurance providers also strive to estimate longevity based on statistics for numerous factors. These include your current age, your gender, your current health status, your health history, risk factors in your lifestyle and more. For example, if all other factors were similar, a 40-year-old man would have a higher premium than a 30-year-old female. This also includes things like tobacco use. Getting term life insurance for smokers will be harder and costlier than non-smokers.
Why Now Is the Right Time to Set Up a Life Insurance Policy
Now that you have decided that you should purchase a life insurance policy at some point in the future, you may still not be inclined to act today. The reality is that there is no better time to buy life insurance than today for many athletes. As an athlete, you may be at the peak of their physical health. Life insurance for runners and athletes is a more affordable deal while you can capitalize on it. Completing a medical exam for life insurance today may qualify you for superior rates. In addition, your age will only increase over time, and this means that this factor will work against you as each year passes. Furthermore, you never know if or when you may be diagnosed with a health condition that affects insurance rates. Once you have received a diagnosis, your rates may be higher than they are right now. You may even experience an injury that results in weight gain and a more sedentary lifestyle going forward.
These are all factors that could lead to higher life insurance rates. When you apply for coverage today, you may qualify for the best rates possible throughout your lifestyle. More than that, your rate will be locked in for the entire length of term. If you purchase permanent life insurance, you will lock in a premium rate for your entire lifetime. With this in mind, now is a wonderful time to analyze your coverage needs and to set up coverage that can provide you and your loved ones with benefits for many years to come. Don't wait any longer, get a free life insurance quote today.