So I was dumb...I didn't buy term life insurance when I was a resident. I had essentially become a hibernating climber whose greatest risk was paper cuts while reading the latest climbing magazines. Then I get my first real job, I start climbing again, and I decide to start learning to fly. I should have purchased a policy right before graduation and I could have answered underwriting questions with 100% accuracy and yet not be considered high risk.
Now I'm finally getting around to being a responsible adult with plans to purchase a term life policy, and I'm facing an uphill battle - attempting to not pay an arm and a leg for a policy.
Has anyone else faced this situation? If so, any guidance or ideas that you've seen would be great. I consider both activities to be very calculated and low risk but to an underwriter who watches football for a hobby I'm not sure how I can convince him or her of this. Should I look for other avenues to protect my family in the advent of my untimely demise? Such as 429 plans, putting a bunch of money in index funds and forgetting about it, and other ways that should I not be able to produce income (or to breath) they will still be alright. I can't stop climbing and flying; I like it too much. If I could find a way to do that for a living I'd stop being a doctor. Thank god insurance companies don't understand the risks of backcountry skiing or whitewater kayaking - then I'd really be screwed.
Thanks for any advice.
Now I'm finally getting around to being a responsible adult with plans to purchase a term life policy, and I'm facing an uphill battle - attempting to not pay an arm and a leg for a policy.
Has anyone else faced this situation? If so, any guidance or ideas that you've seen would be great. I consider both activities to be very calculated and low risk but to an underwriter who watches football for a hobby I'm not sure how I can convince him or her of this. Should I look for other avenues to protect my family in the advent of my untimely demise? Such as 429 plans, putting a bunch of money in index funds and forgetting about it, and other ways that should I not be able to produce income (or to breath) they will still be alright. I can't stop climbing and flying; I like it too much. If I could find a way to do that for a living I'd stop being a doctor. Thank god insurance companies don't understand the risks of backcountry skiing or whitewater kayaking - then I'd really be screwed.
Thanks for any advice.
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