Did you declared your passion for windsurfing in your Life Insurance policy?
Is it really dangerous activity?
or generally and statistically improving your heath status increase actually your life expectancy and overwrite risk of drowning or been eaten by sharks?
Did on my income protection and it doesn't make a diff. But if its kitesurfing its a different story.
Apparently there are more kiters hurting themseleves.
I took out a policy last week, they did not ask , I did not tell.
They asked, if I skydived, scuba dived, bear wrestled but no question about windsurfing.
basically take:
life insurance
TPD
and income protection out within your superannuation.
not only is it generally a "group" policy (which is awesome, as no need for individual medicals so existing ailments are automatically covered) as they use population statistics to work out premiums......
the premiums will be MUCH less as the premiums are tax deductable to the super fund.
a super fund will also assist in processing the claim for you.
this is what im covered for
$250k death approx $1.50 a week
Income protection for 2 years, deferred period 3 months , benefit $4k month for $1.70 a week !!!
TPD premiums covered under the IP policy above. (TPD means disability)
soooo cheap because its in superannuation enviroment.
If i was to get life insurance as a stand alone policy from a retail insurer Id be looking at $40 month
Income Protection would be around $100 a month
TPD would be additional $ also.
In my case, all would need medicals to be carried out, and all would have exclusions for existing or previous ailments within the last 2-5 years.
if your super doesnt offer what ive outlined there are plenty of other funds that do.
Maybe that's fine for you but $250k is not very much to be leaving your family, doesn't even pay off the mortgage.
It's ok, well better than nothing but really you need a bit more to provide a secure future for your kids ( if you have them, if not why waste money on life insurance)
Nasi, i pay 12 times the premium than you do and mine is in the super fund. 
I am covered with Comminsure.
Young must be very, very low risk
Nasi raises some pertinent points, particulalry in regards to cost, but remember
1. If life cover pays out inside super it is an "unfunded payment" and is subject to 15% tax when it hits the fund (less funds for your estate).
2. Be mindful that if you have your income protection inside super, that if it comes to a payout, you have to trigger a condition of release from super under "temporary incapacity" in order to get access to the income protection payments. Just because you can trigger an income protection policy doesnt always mean that the super fund has to pay it out. Read the policy info and the super legislation carefully so you know the risks, because as Nasi points out, it is terribly cheap via group policies in super, so hard to ignore.
My situation is that I have grossed up my life insurance and TPD cover inside of super to take care of the extra tax on payout because it is cheap, and income protection and critical illness in my personal name. Remember income protection in your own name is tax deductible in most cases.
My tip: speak to an insurance broker or financial planner about how to structure it for your own situation, and ideally use someone that works on a fee for service basis, not commission. Also, talk about the merrits of a level premium over stepped, will save you a packet long term although it is more expensive in the early years.
PS: I got my cover through MLC and mentioned that I windsurfed but it didnt change the premium.
