AltiSafe: Insurance for US Skydivers

Solving a Problem

Skydivers in the U.S. face a significant challenge when it comes to medical and life insurance. Most insurance policies exclude coverage for injuries or death resulting from ‘high-risk’ activities and skydiving is often named explicitly. In cases where coverage is available, it usually comes with a steep additional premium.

A new company has stepped in to fill this gap. AltiSafe launched earlier this year, offering life and medical insurance specifically designed for skydivers in the U.S. with a rate that’s much more affordable than what we typically find. It appears to be the only policy of its kind currently on the market.We spoke with founder Daniel Kang about the story behind AltiSafe, a company created in response to a personal experience within his own family.

Daniel, why did you start AltiSafe?

Before AltiSafe, I worked in life insurance as an actuary helping price insurance and run models to ensure the company had sufficient funds on hand to pay claims. I knew from my experience in the industry that skydiving was typically excluded in life insurance policies. One day, my brother mentioned to me that he was planning on going skydiving during his honeymoon. My brother was the sole income for his family and it got me into doing research into what options would be available for him. As I did my research, I quickly realized there was a big gap in insurance coverage despite a clear need for it.
It was tragic that in a sport where one bad jump can have severe consequences, the only safety net available for most people was crowdsourcing like gofundme. That’s why I decided to start AltiSafe. We want to be a reliable backup so when accidents happen, people can focus on recovery.

Tell us about the coverage Altisafe offers

We offer both life and medical coverage for skydiving accidents. All our plans have $50K life coverage. Our cheapest plan starts at $15/month and comes with just the life. Our most popular plan is $45/month and comes with $50K in life coverage, as well as $10K in medical expenses. The medical expense can be used as needed (ambulance, hospital, Xray, prescription painkillers).
The policies are annual and this was an intentional decision to keep premiums lower for our customers.

Does Altisafe have anything cooking for the future?

We’re very invested in AltiSafe and skydiving. We think our current offerings provide great value for the price. However, we understand insurance isn’t a one-size-fits all and everyone has their own insurance needs. In the future, we’re planning on allowing people to customize their plans by allowing them to purchase more coverage.  This means people will be able to buy more life and medical coverage, to match their own needs. We’d also like to expand our insurance to be able to travel abroad, so that our customers are insured regardless of where they are jumping. We’d also like to add optional canopy coverage.
These are just a few of the things on our minds for the future!

AltiSafe is offering 15% off for the first 3 months for all Skydive Mag readers, enter SKYDIVEMAG on the Alti-Safe insurance website.