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Best life insurance for people with high-risk hobbies in 2021

These life insurance companies don’t shy away from extreme sports and hazardous activities.

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Participating in risky sports and activities is adrenaline-inducing, but it can also make buying life insurance a headache. That’s because there’s a higher chance the insurance company will have to pay out the claim sooner.

Since insurance companies classify you as high-risk, you’ll probably be limited to a term policy. But not all insurance companies are completely risk-averse.

When analyzing the best life insurance companies, we assess the insurer’s reputation in the industry, as well as its product lineup, rider selection and underwriting standards. To determine industry reputation, our editorial team researches the company’s financial strength, accreditations and ratings, and reads customer reviews.

What’s classified as a high-risk hobby?

Each insurance company has its own definition of a “high-risk” hobby, and how often you’re able to participate in these activities without officially landing into a riskier rating class. Insurance companies consider these activities to put your life at greater risk, which means they’re more likely to have to pay out a claim. They charge a higher premium to help offset this increased likelihood of a claim. Generally, these activities tend to fall under the high-risk category:

  • Skydiving
  • Hang gliding
  • Scuba diving
  • Rock climbing
  • Bungee jumping
  • Piloting aircraft
  • Skiing
  • Surfing
  • Racing
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What are the best life insurance companies for high-risk hobbies?

While there are more than five life insurance companies that are okay with insuring those with high-risk hobbies, the following five particularly stand out.

Best for extreme sports and high-risk activities: Mutual of Omaha

Mutual of Omaha logo
Finder Rating: 3.5 / 5

★★★★★

This brand isn’t available on Finder right now.
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$2,000 – $500,000+
Coverage range
18 – 68 years
Issue age
10, 15, 20, 30 years
Term lengths
Mutual of Omaha stands out for offering competitive rates for those who count high-risk activities and sports among their hobbies. Its lineup includes a range of term and permanent policies, including a guaranteed issue whole life policy for low coverage amounts. You can also customize your coverage with a long list of riders ,such as an accidental death benefit.
  • Affordable rates for those classified as high risk and people involved in extreme sports.
  • Choose from riders such as an accidental death benefit, disability premium waivers and waiver of premium.
  • Sells four universal life policies with various cash-value growth options.
    Coverage range $2,000 – $500,000+
    Term lengths 10, 15, 20, 30 years
    Issue age 18 – 68 years

    Best company for giving back: Foresters Financial

    Foresters Financial logo
    Finder Rating: 4 / 5

    ★★★★★

    This brand isn’t available on Finder right now.
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    $10,000 – $500,000+
    Coverage range
    18 – 85 years
    Issue age
    10, 15, 20, 25 or 30 years
    Term lengths
    Foresters Financial offers standard term policy options, and contributes an additional 1% of your death benefit to the charity of your choice if you die while the policy is in force. It also offers various member benefits, such as emergency grants, terminal illness loans and discounts on legal and financial services. Plus, it's more accepting of high-risk hobbies than most other life insurance companies, meaning you can get coverage while knowing your money might go to a good cause.
    • Unique member benefits and charity donation in the event of a claim.
    • Pairs you with a local agent for personalized service.
    • Its relaxed underwriting guidelines allow for high-risk activities and sports.
      Coverage range $10,000 – $500,000+
      Term lengths 10, 15, 20, 25 or 30 years
      Issue age 18 – 85 years

      Best for adrenaline junkies: Principal

      Principal logo
      Finder Rating: 4.5 / 5

      ★★★★★

      This brand isn’t available on Finder right now.
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      $200,000 – $5,000,000
      Coverage range
      20 – 70 years
      Issue age
      10, 15, 20, 30 years
      Term lengths
      If you're looking for a competitive rate but still participate in hazardous sports, Principal offers an exclusion option. This policy excludes extreme sports and aviation, meaning it won't pay your beneficiaries in the case of an accident.
      • Hazardous sports and aviation exclusion lets you have a policy without being penalized on rates.
      • Quick approval process of 15 days or less for nearly all applicants.
      • User friendly online portal lets you pay online and view your policy.
        Coverage range $200,000 – $5,000,000
        Term lengths 10, 15, 20, 30 years
        Issue age 20 – 70 years

        Best for existing health issues: Legal & General

        Legal & General logo
        Finder Rating: 4 / 5

        ★★★★★

        This brand isn’t available on Finder right now.
        Get quotes from similar companies Read review
        $100,000 – $10,000,000
        Coverage range
        20 – 75 years
        Issue age
        10, 15, 20, 25, 30, 35, 40 years
        Term lengths
        If high-risk activities are on your agenda and you have a health condition, Legal & General might be the perfect fit. Formerly known as Banner Life, the insurer offers various term policies. Thanks to its lenient underwriting, it opens up life insurance for applicants who might not otherwise be able to get coverage, like risk-takers, seniors and those with preexisting health conditions.
        • Term policies can be converted up to age 70, giving you plenty of time to convert to a universal policy or buy a new policy.
        • Offers the most popular term insurance riders, such as children's term and disability.
        • Strong financial stability and fast claims service.
          Coverage range $100,000 – $10,000,000
          Term lengths 10, 15, 20, 25, 30, 35, 40 years
          Issue age 20 – 75 years

          Best overall life insurance company: Prudential

          Prudential logo
          Finder Rating: 3 / 5

          ★★★★★

          This brand isn’t available on Finder right now.
          Get quotes from similar companies Read review
          $100,000 – $10,000,000
          Coverage range
          18 – 75 years
          Issue age
          10, 15, 20, 30 years
          Term lengths
          The insurance giant has a wide variety of rating classifications, which means it is often more lenient than other large life insurance companies when it comes to high-risk activities. Its relaxed ratings aside, Prudential is financially strong and has a varied lineup of policies to choose from.
          • Offers a term policy that covers you until age 65.
          • Purchase term policies with either a return of premium option or as a yearly renewable policy.
          • Flexible classifications open up access to policyholders that participate in high-risk activities.
            Coverage range $100,000 – $10,000,000
            Term lengths 10, 15, 20, 30 years
            Issue age 18 – 75 years

            Life insurance companies with the best financial strength

            The financial strength of an insurance company points to its ability to pay out claims quickly. Plus, financially strong mutual companies pay out dividends to permanent life policyholders, and you can then collect the cash or use the money to pay your premiums or upgrade your coverage.

            AgencyPrudentialMutual of OmahaForestersPrincipalLegal & General
            A.M. BestA+A+AA+A+
            Moody’sAa3A1N/AA1N/A
            Standard & Poor’sAA-AA-N/AA+AA-
            FitchAA-N/AN/AAA-AA-
            J.D. Power3 out of 54 out of 5N/A3 out of 5N/A

            What life insurance companies have the best customer support?

            We looked to the Better Business Bureau (BBB) to help us determine customer service and reviews for each life insurance provider. Ratings and reviews reflect each company as a whole, not just its life insurance component.
            CompanyBBB ratingCustomer reviews
            PrudentialD-1 out of 5 stars
            Mutual of OmahaA+2 out of 5 stars
            ForestersA+3 out of 5 stars
            PrincipalA+1 out of 5 stars
            Legal & GeneralA+N/A

            Bottom line

            If you play high-risk sports and take part in hazardous activities, you can still qualify for affordable life insurance. You can either choose to be excluded from coverage while you’re participating in your high-risk hobby, or buy a regular, pricier policy for full coverage.

            Before making this important decision, see Finder’s list of the overall best life insurance companies.

            Get quotes from top life insurance companies

            Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
            Policygenius
            18 - 85 years old
            $50,000
            $10,000,000
            10, 15, 20, 25, 30 years
            Depends on provider and policy
            Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
            Bestow
            18 - 60 years old
            $50,000
            $1,500,000
            10, 15, 20, 25, 30 years
            No
            Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
            Everyday Life
            20 - 75 years old
            $100,000
            $10,000,000
            10, 15, 20, 25, 30, 35 and 40 years.
            No
            Ladder multiple life insurance policies to save on the coverage you need for all your debts.
            Ladder
            20 - 60 years old
            $100,000
            $8,000,000
            10, 15, 20, 25 or 30 years
            No, for coverage up to $3M
            Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
            Sproutt
            18 - 60 years old
            $50,000
            $4,000,000
            5, 10, 15, 20, 25 and 30 years
            No
            Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
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            Life insurance ratings

            ★★★★★ — Excellent

            ★★★★★ — Good

            ★★★★★ — Average

            ★★★★★ — Subpar

            ★★★★★ — Poor

            Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

            Learn more about our methodology here.

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