Category Archives: Wellness

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Can Space Tourists Get Life Insurance? by Aaron Crowe

Astronaut

The Oct. 31 crash of a Virgin Galactic rocket that killed a pilot hasn’t stopped the company from continuing its quest to offer space tourists a chance to see the Earth from above, giving potential riders a chance to reconsider their life insurance options.

While life insurance might be the furthest thing from any space tourist’s mind, a loophole that allows current life insurance policyholders to retain such coverage if they fly into space remains, though the insurance industry may look to close it.

Skydivers, pilots and people with other high-risk jobs or hobbies must buy extra coverage on their life insurance policies. Space tourists, however, who either already have life insurance or are applying for a policy don’t have to mention their upcoming trip to space because insurers either don’t ask about space tourism or don’t exclude it from coverage.

The loophole means they’d likely have to pay if the policyholder died on a space trip.

There are little or no established life underwriting guidelines specifically for space flight, and such activity would probably be covered under common aviation clauses and exclusions, says Rob Drury, executive director of the Association of Christian Financial Advisors.

“For a life insurance company to deny coverage for space travel would require a specific exclusion of such activity,” Drury says. “If the current treatment of aviation activities is an indication, the greater likelihood is that a proposed insured would be underwritten at a higher risk class.”

Once a policy is issued, death benefits must be paid for any death regardless of cause, unless there is a finding of fraud, misrepresentation, or suicide within the policy’s contestability period of the first two policy years in most states, he says.

Coverage is provided by omission, meaning the underwriter doesn’t ask about an applicant’s plans to fly into space.

“If someone wants to run the bulls at Pamplona, his insurer might not like it, but they must pay in the event of death if the activity isn’t specifically excluded,” Drury says.

Astronauts are rated at $10 per $1,000 of coverage in addition to their approved rate based on amount of coverage, age and other factors, says Ellen Davis, president of Life Health Home Insurance Group. Space tourists can’t buy coverage yet, Davis says.

However, if the insurer doesn’t ask an applicant about space travel, then it would be covered under travel outside of the United States, she says.

Virgin Galactic’s SpaceShipTwo crashed during a test flight. The craft is designed to carry six passengers on two-hour suborbital flights that offer a few minutes of weightlessness. The company announced after the crash that it plans to continuing selling tickets at up to $250,000 per seat.

The good news is that while flying in a rocket sounds risky, even for insurers, not many people have died riding into space. No one has died in suborbital manned flights. There have been three fatal orbital space shots, including the space shuttles Challenger and Columbia with 14 deaths, and a Soyuz flight that killed one person.

Mention that to your underwriter next time you’re applying for insurance as a space tourist.

Aaron Crowe is a freelance journalist who specializes in content about personal finance and insurance.

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Balance

The holidays are nearly here, which means it’s a good time to remember to take care of ourselves. This is an article I want to share with you about how to maintain balance in your life.

Ellen

Balance: Healthy Body, Healthy Mind, Healthy Family, Healthy Society, and Healthy Finances.

By: Elizabeth Zachariah

Certified Life Success Consultant (Life Coach) for Bob Proctor’s LSC Inc.

(Bob Proctor is a world renowned speaker featured in the “Secret”, interviewed on Oprah, Larry King and Ellen).

Acquiring balance in every area of our life is a constant struggle these days. It seems like we are running to catch our tails, trying to get everything done, be everywhere, please everyone, and we end up paying a dear price in the process. We have lost our inner balance. We do all “this” to keep our external environment controlled, or so we think.

Are there days when you feel like all the blocks you are neatly building just keep falling? And you keep stacking them up again and again but there is no movement forward in the building process? You feel exhausted, your body having taken a beating from the moment you wake in the morning until you retire at night?

These days the majority of individuals have completely surrendered the well being of their physical health to their physicians, we say “Let someone else take care of this.” Then there is the well-being of our mind which functions from all the beliefs and systems we were raised with. Have you ever stopped to ask yourself: “Why am I not moving forward in life?”

Could you imagine balance in your body, mind and spirit? Many individuals might take a step back to this simple question but those very people don’t realize we as spiritual beings residing in a human shell exists on three planes; the body (physical), the mind (intellectual), and the spirit (soul). It is this wonderful balance in all three planes that allow an individual to achieve a sense of well being.

It all starts with taking responsibility, to understand how critical it is to maintain the well-being of the mind and body connection. This is the first step to overall harmony as individuals, then for our society, community, country and ultimately globally. It all starts with us at the individual level.

Each of us want fulfillment in life so take responsibility to educate yourself on keeping our bodies healthy by having the proper sleep, drinking living water, supplementing with whole foods nutrition technology, fitness, using natural ways to stay healthy, prevention, and keeping the home environment clean. It is just a matter of knowing.

A healthy mind begins with understanding the results we have in our lives is a sum total of all the thoughts we have had until this moment in life. You are the architect of your life the quality for you, your family, your community, your world is up to you. If you want to some additional ideas to help you change the results in your life ask me how and I will gladly work with you.

“As a being of power, intelligence and love, and the lord of his own thoughts, man holds the key to every situation, and contains within himself that transforming and regenerative agency by which he may make himself what he wills” James Allen, As A Man Thinketh

Balance in the mind and body leads to balance in all other areas in our life, if we can motivate and educate ourselves we can make better choices and decisions that will inspire the intelligent action that is needed to have balance and lead a fulfilled life.