Insurance and Financial Planning for Racers

[Juice]

I’d like to take a moment to introduce myself to the club. This is my first post and my husband Geoff Snyder is #76. This is his
10th season with the club.

I am a Financial Planner with Northwestern Mutual helping families achieve financial security. Financial planning involves assisting clients in identifying their long-term economic goals, analyzing their current financial situation, and preparing a comprehensive financial plan to achieve those goals. A comprehensive financial plan seeks to address a wide spectrum of a client’s long-term financial needs such as: asset allocation, education funding, retirement planning, estate planning, long-term care insurance, disability insurance, and life insurance.

Why is insurance a part a financial plan and why would anyone want to put money into something that does not translate into quicker lap times? The same reason you buy a good helmet and leathers - PROTECTION. Health, disability, life, and long term care insurance can tough for racers to get through traditional insurance companies due to the high risk nature of the sport, but are a critical form of protection for you & your family. I have the knowledge, experience and expertise to help racers get these products at competitive rates.

As a former professional mountain biker racer myself, having a husband who road races and having many clients who are passionately involved in high risk hobbies, my team and I understand and enjoy helping traditionally challenging clients like racers find affordable life, disability, health, and long-term care insurance as part of their financial plan.

Please contact me if you have questions about insurance for racers or would like to develop a comprehensive financial plan for you and your family.


Jeanine L. Snyder
www.nmfn.com/jeaninesnyder
720-562-4644
http://www.linkedin.com/in/jeanineleesnyder

[phildrummond]

Is there an insurance product that offers life and short- and long-term disability to cover just racing or "obvious displays of speed" as my policy puts it?

[Juice]

Is there an insurance product that offers life and short- and long-term disability to cover just racing or "obvious displays of speed" as my policy puts it?

Hi Tom,

Great question. Yes, there are Life and Short-term and Long-term disability insurance products that include racing and riding at 'high speeds' as part of the contract and coverage. Many providers are adverse to covering such avocations, but there are options for racers to have coverage during racing/riding times.

The economics for Short-term disability are tough, meaning that having 90 or 180 days of cash saved makes more sense than the premiums for Short-term disability. However, there are Life and Long-term disability policies that cover racers and those that partake in 'obvious displays of speed' as you put it.

Some companies provide a combined Life and Long-term disability product for 'high-risk' people, whether you are a professional or 'enthusiast' racer.

Please call or PM me if you have further questions or if you'd like more details on how polices are structured. It appears like you already have something in place, and depending on your situation there are few avenues that may be appropriate to pursue.