Need life insurance? Read how one BSAC Diver got his cover just right.
Many divers don’t realise that their participation in scuba can have an impact on the cost of their life and critical illness cover. BSAC member benefit Scuba Financial Services has recognised the real need for competitive cover that takes into account divers’ needs, offering excellent service and value for money for BSAC members.
Here, one BSAC diver explains just how Scuba Financial Services cut his insurance by half, while giving him peace of mind to continue with his diving….
Mike Reader, BSAC member and Advanced Diver
I recently made very good use of their services to provide a death and critical illness top-up policy which included diving activities for a new mortgage.
I’m a BSAC Advanced Diver, ACI and TDI nitrox qualified. I’ve been diving for 23 years, mainly in the UK where I normally wreck dive. I’ve also dived in the Red Sea, Thailand, Philippines & Australia.
Basically, I had an endowment mortgage in 1998 on my first house and this gave the benefit of death and critical illness, which included diving.
I moved again in Dec 2010 and thought nothing of adding a top-up to my death and critical illness, to cover the extra mortgage. How naïve I was…! Insurance companies are now a bit risk averse and when you mention wreck diving, well…they don’t seem to be able to get past “wreck diving” and understand what it actually means. They assume that most wreck divers are into deep wreck penetration and dangerous exploration, i.e. high risk.
I first approached one insurance company through my new financial advisor and was alarmed when the quote came back. There was no increase of loading for diving, but they excluded critical illness that was caused through diving. My financial advisor felt that this wouldn’t be different though any other provider. He suggested increasing the amount insured on my original top-up as an alternative.
I approached another insurance company and the best that they could offer was an additional policy to run along side my original top-up. However, there would be different terms applied which didn’t include diving related critical illness / injury.
At this point, I was browsing the BSAC website, saw a Scuba Financial Services advert and gave them a call. It was refreshing to speak to Simon, who asked all the right questions in the right context and understood what I meant when I said “wreck diving, no entry without a clear exit”. He also understood my experience as a diver and my aversion to risk, as indicated by my training and background.
As a consequence, I took out a plan through Scuba Financial Services for death and critical illness on the new top-up amount. The premium was about half of the amount offered by the other insurance companies for death and critical illness cover which included diving.
In conclusion, I’d be happy to recommend Scuba Financial Services to other BSAC members. After becoming frustrated with other insurance companies, it was a pleasure to speak to Simon and talk to someone who understood diving. The common sense, flexible approach of Scuba Financial Services finally won my business
For more information and to obtain a quote call 0345 565 0936 or visit Scuba Financial Services online
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