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The Truth About Getting Life Insurance As A Race Car Driver [Rates Revealed]

Getting life insurance as a race car driver

Looking for a quote for life insurance or burial insurance? Click here and send me a message with details of what you’re wanting to accomplish. If you’d prefer to talk live, call 888-626-0439 to speak with me directly.

Do you participate in professional or race car driving and looking for life insurance coverage?

If this describes you, then you’ve found the perfect article.

Today, I will discuss…

The TRUTH About Getting Life Insurance As A Race Car Driver

Your here today because you or a loved one drives race cars as an amateur or a professional.

Perhaps you’ve experienced difficulty in getting life insurance coverage in the past.

If that’s the case, you’ll definitely want to read this article.

We will discuss tips and tricks on getting the best possible life insurance offer as a race car driver.

We can help to get the best type of life insurance available to you without paying an extremely high premium.

Today’s Topic Overview:

Different Factors That Impact Your Eligibility For Life Insurance Coverage

Can you get life insurance if you are a race car driver?

The short answer is yes.

The long answer is that there are a litany of details that a life insurance company must consider in order to determine your eligibility.

Let’s talk about those factors now.

Health And Lifestyle

The first questions any life insurance company will ask you relates to your overall health.

Life insurance companies commonly ask questions such as:

  • Have you experienced any health issues?
  • Any recent surgery or hospitalization?
  • Do you have a chronic ailment?
  • Any drug or narcotic problems?
  • Are you waiting on the results for any procedures?

Understandably, life insurance companies ask these questions of virtually all applicants for coverage.

And being a race car driver, expect the same type of questions.

Details Of Your Racing

Let’s assume your health is in overall good shape, and there are no glaring health issues to overcome.

So far, so good.

The next series of questions life insurance underwriters will ask relates to the details of your racing.

Let’s break this down.

Companies offer different levels of coverage based on your racing experience.

Here are a few of the questions you need to prepare to answer during your application process:

  1. Are you a track racer or an off-road racer?
  2. What type of vehicle do you drive?
  3. What is the average speed? Top speeds during the race?
  4. Are you an amateur or professional driver?
  5. How many years’ experience do you have driving?
  6. Have you ever been involved in a wreak racing?
  7. Do you participate in any other higher-risk hobbies?

Unique Insurance Concerns For Race Car Drivers

Flat Extra

Due to the high-risk nature of amateur and professional racing, it’s likely the insurance company will ask you to carry a flat extra.

A flat extra is a rate enhancement that’s added to certain life insurance policies.

If you are offered insurance with a flat extra, the insuring company worries your particular hobby or profession warrants additional concern.

And while they’re comfortable insuring you, it comes with a “middle-ground” where you’re offered coverage at a higher rate to offset the company’s risk concern.

Here’s how it works with a company that approves you for coverage.

You’re approved for the $200,000 in life insurance coverage you requested at a $1000 a year premium.

Due to your involvement in race car driving, a flat extra rate is applied to your life insurance coverage. It’s $5 for every $1000 in coverage.

That means that for $200,000 in coverage, you’re going to pay a $1000 on top of your $1000 in premium. Your total price is $2,000 a year to have your $200,000 in coverage.

Exclusionary Clause Riders

If you’re not happy with the pricing then you may want to inquire about an exclusionary clause in your life insurance policy.

An exclusionary clause eliminates life insurance companies paying out a death claim in relation to your involvement in racing. This may seem silly at first, but it may be the only option to control the premiums to a comfortable level to get the policy issued.

Many companies will issue policies with these exclusionary riders. If this is something you’re considering make sure to talk to a broker like us here at

Request to include exclusionary coverage with your application. Make sure that during the process of underwriting your application the underwriter knows to note that in the files and include it with the final offer.

Types of life insurance coverage available to race car drivers

There are a lot of different life insurance options available. It’s important to understand what your options are as you get ready to apply for life insurance coverage.

Here is a brief description of the different types of life insurance plans available. It covers how they work and what their drawbacks could be.

Permanent Life Insurance

Permanent life insurance is designed to be a permanent coverage. It’s designed not to cancel when you hit a certain age or your health changes. It’s usually designed to pay for final expenses or handle an estate tax and other concerns.

The biggest problem with permanent life insurance is that it tends to cost 5 to 10x as much as the other options do. Not many people end up buying permanent insurance. Instead, they buy what’s called term insurance.

Rates For $10,000 In Burial Insurance

Rates For $25,000 In Burial Insurance


$150,000 Whole Life Insurance, Life Pay

$250,000 Whole Life Insurance, Life Pay

Term Life Insurance

Term life insurance is temporary life insurance. This is the cheapest form of life insurance available to many people. It only pays a death benefit if you die within the term period of time. It’s usually limited to 10, 20, and 30 year periods of time.

People purchase term insurance to replace their income, or to cover debts like mortgages and business loans. It’s the best way possible to buy life insurance.

Economically it makes the most sense when compared to the permanent option. Sometimes we see term insurance costing 80 to 90% less than a whole life or permanent life insurance plan.

Term Life Insurance Coverage – 10 Year Term – $100,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $250,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $500,000 in Coverage

Term Life Insurance Coverage – 10 year Term – $1,000,000 in Coverage


Next steps

My goofball son and I thank you for reading, and hope you’ve gained truly valuable information on your search for life or burial insurance. If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for your free life insurance quote!

If you’re interested in qualifying for life insurance as a race car driver give me a call at 888-626-0439 today for a free quote. Or send me a message here.

Thank you for stopping by and reading this article. I hope it has encouraged you to get life insurance in place if you do not already have coverage.

If you would like to learn more about what you might qualify for, please call us at (888) 626-0439. You can also send us a message and we will respond to your request within 24 business hours. 


We work with individuals across the nation to secure the best life insurance rates.

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