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NEW ARTICLE: Life Insurance for Climbers

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 UKC Articles 29 Jan 2010
[Rescue chopper dwarfed by the distant east ridge and fearsome Caroline face of Mt Cook, NZ, 3 kb]When someone starts talking about life insurance is your reaction a yawn? Do you ignore them and hope that they will shut up and go away? In this short article David Hallam, director of Summit Financial Services, takes a look at some of the pitfalls and problems associated with life assurance, climbers and mountaineers.

Read more at http://www.ukclimbing.com/articles/page.php?id=2436
 George Ormerod 29 Jan 2010
In reply to UKC Articles:

I'd be interested in knowing what the position is if you start climbing after a policy has been running for a number of years.

Anyway, as insurance companies are normally vermin, aren't their moves afoot to change the legislation that allows them not to pay because of reasons spurious to the policy and the claim, such as you didn't declare you climb, but get run over by a bus?
 Sargey 29 Jan 2010
In reply to UKC Articles:

Hate to criticise the site, generally loving your work UKC, but think this blurs the advert/article boundary a little to much. Perhaps needs to be separated the same way reviews and product news are.
Simon Reed 29 Jan 2010
In reply to George Ormerod:

Declaring your climbing activities at application stage forms part of the disclosure rules. To quote one major insurance company's criteria:

"If you do not disclose all relevant information or you provide incorrect information this may result in the non-payment of a claim. If you are in any doubt as to the relevance of certain information please disclose it."

Whether the application form asks directly if you climb, or indirectly if you take part in an activity that carries an additional risk, non-disclosure could therefore invalidate a claim, even if the claim is not related to a climbing incident.

On a positive note, there is an element of 'Good Faith' that insurance companies generally adopt, in that once your contract is in force, it remains valid irrespective of changes to your activites. So if you were not a climber, and had no immediate intentions of starting when you took the policy out, a future claim, even as a result of a climbing incident, would normally be honoured.

There are some contracts whereby insurance companies need to be advised of a change in occupation or activity and so it is prudent to check with your existing insurer if you fall into this category.
Removed User 29 Jan 2010
In reply to UKC Articles:
And far more importantly, that's the East Face of Cook in the photo, not the Caroline.
J1234 29 Jan 2010
In reply to UKC Articles: I`ve got to say that article is not very informative, just a glossary and a come on to ring the financial services company, it should have a lot more in it as the subject is of great interest,thumbs down.
 uncontrollable 29 Jan 2010
In reply to UKC Articles:
I would love to say that this article was informative, worth the read, covered a great deal of controversial topics with unbiased views etc and bla bla bla but I unfortunately hat to realise I just wasted 50 seconds of my life reading a bloody advert.
Dear Insurance folks that you wrote this blurp of an article which makes the daily mail look like a newspaper could you be so kind to recommend me an insurance policy that covers 'waste of time by insurance brookers'?
If yes I would be very interested and how much would I get in compensation for say reading an article like yours?
Simon Reed 29 Jan 2010
In reply to J1234:

Appreciate your comments. As this is our first article on UKC we decided to keep it as an overview introduction. Not everyone has a good understanding of the types of cover available so we felt it was worth covering the basics first. We are happy to do more informative articles for UKC, if the demand is there. If we get multiple requests for a particular topic then we will of course aim to cover it for you.

As for our intentions, yes we are in business to arrange life insurance contracts, and yes climbing is our market! We hope that through our presence on UKC we can also answer any questions you may have, without anyone feeling obliged to 'request a quote' in return, and that ultimately many more climbers will ensure they have suitable cover, which should benefit everyone concerned.
 fleapitfan 31 Jan 2010
In reply to UKC Articles:

I think you'd be suprised about the prevelance of climbers in the financial services.

I work as an Underwriter for a major UK bancassurer and get most climbing related queries passed to me. I've also put together guidance for the 30+ other Underwriters, explaining the esoteric language us climbing folk use.

I suppose it's always going to be difficult setting rates for climbers due to the lack of statistical info available, but the key is, tell them everything!

And if you think you've been rated unduly harshly, discuss it with them, putting forward your case and asking them to supply you with an in-depth explanation. The vast majority of UK insurers will have access to at least one reassurance company who will be able to offer specialised opinions on the really severe mountaineering risks.

But it is rather a tedious subject, isn't it?!
J1234 31 Jan 2010
In reply to Summit Financial Services: Your intentions are honorable and to be encouraged, just seemed a missed opportunity and certainly no criticisim of you intended, it is up to UKC to edit content.
Is it possible to arrange income protection for a climber?
Simon Reed 02 Feb 2010
In reply to J1234:

If you have tried to get cover already, you will know it is harder than getting life insurance or even critical illness cover, but yes we can arrange Income Protection which will include worldwide climbing activities, and at ordinary rates. Thanks for your feedback.

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