Serious Question; Life Insurance, Anyone?

What does the mob think? -

- 12 races a year
- about 5 years or so of that many races
- makes for 60 races
- with 100 cars a race
- at 60mph for 14 hours
- gives 800 miles
- times .5 for the breakdowns
= 2.4 million miles of 'racing'.

I'd say it's safer than commuting. . .  better race more!

(and I'm sure that band saws have injured more than racing has.  And probably hantavirus, too.)

-Jeff

Racing Lemons should not increase the importance of having life insurance. If you have a family to cover, and you can afford it, get it racing or not. - though I guess that is not your question. I get it from work and only extreme disasters, war, and purpose self inflicted death is not covered.

Injury where you can not work is a lot more likely from racing. So having some kind of backup plan for income, be it a savings or disability insurance, is a better idea.

I look at life insurance as a reward to my wife if I die, or a bet with the insurance company that I will die before the term ends. If they win I live, If my wife wins I die. Ether way I win because I know where I'll be in the end. I just want my wife to be well taken care of in case of an untimely death. I've had this policy for a long time and increase it as my income/earning potential goes up. To do anything else would be irresponsible. Just my 2 cents.

I have been racing various genres of motorsports since 2007.
I have yet to find a policy that covers me during competition. 

Yes I have Life Ins. yes it will pay out if I die anywhere but on a racetrack between the 1st Green and the Checkers. 
I'd love to bridge that gap, but have yet to find anyone who will cover. 

Ideas?  And how expensive? 

Not LIFE INS. but....I really like the way USAC does it (only because they do something and something is better than nothing), but Lemons isnt a USAC santioned series. 
It covers driver (events with co-driver) and crew.  So getting hit on pit road, or having a fire during refueling guys get covered. 

There are 3 legs to insurance coverage at events. 99% only have one of those legs, general liability insurance that only covers the Land Owner, Promoter, and Major Sponsors. (This is what Jay & the track carry)

A few provide Particpant Medical Insurance that covers medical expenses experienced by the competitor if they have an accident at a race.

Until now, no one provided Participant Legal Liability, which covers the drivers specifically if something bad happens, USAC now does this.

"As such all drivers will be licensed by USAC and be enrolled in their standard Medical Coverage. $200,000 Excess Medical/$50,000 Death and Dismemberment.

Codrivers will have the same benefits.

Crew will also have the same benefits."

I contacted a life insurance broker and spelled out my situation.  There were lots of questions about speed, number of events, stuff like that.

I feel like they gave me a pretty reasonable rate for a good bit of coverage.  I can't remember the specifics, but I think it's $500K and I pay around $50/month.

If you want to know the company I went with, let me know and I'll look it up tonight.

"Oh man he was hauling serious mail before that wreck, wow I tell ya!!!"

Ins. Investigator: "Well how fast was he going?"

"Well hard to say he was blazing it up around the track, just a blistering speed right up to the wreck, but I know it wasnt over 99.99999mph"

So, NOT being covered while on the racetrack is a great passive-aggressive way to get back at your wife's complaining about all the spent weekends, nagging about time spent on the rebuild / motor swap / cell install, $$$ lost to races and beer, and the LeMon sitting in the driveway for >2 yrs?

Sounds like a win either way.

I am.  Don't remember there being any kind of mph limit.  It was kind of funny actually, I was going through and when he got to the "special" circumstances page, the one that contained racing, middle east travel, etc, his comment was"Well, this is the page where everyone always answers no to all my questions.".  It was pretty fun to watch the look of shock on his face when I answered yes on a few of them.  Of course the first 5 companies that I he applied me to said no, but I am covered in all of these shenanagins.  Well, perhaps not the pit bikes ........

I see what you did there, and I like it!