The cost of Life Insurance for NASCAR Drivers

As you probably know, if you are a risk taker or work in a dangerous industry your life insurance premiums are going to be higher than most people. This definitely holds true when it comes to NASCAR drivers. Although being a NASCAR driver means that you have the chance to make big money and get on television, there are some downfalls as well. One of them being the fact that life insurance costs so much money. After all, this is a dangerous career that unfortunately leads to unexpected crashes and deaths from time to time. For this reason, a NASCAR driver will have to pay an enormous amount of money for life insurance coverage.

Since NASCAR drivers are considered independent contractors, they are responsible for buying their own life insurance coverage. In other words, it does not come from any association or employer. NASCAR veteran Jeff Burton put it best when saying, “It’s just one of those things, you don’t need it until you need it.”

So how much do NASCAR drivers pay for life insurance? While this is not something that a lot of them want to talk about, there are some facts and figures floating around. Generally speaking, most drivers pay in upwards of $150,000 per year for coverage. Of course, this varies depending on how much coverage they want to purchase.

When it comes down to it, everything pretty much evens out for NASCAR drivers. Sure, they have to pay a lot of money for life insurance, but at the same time they are making hundreds of thousands of dollars per year. In fact, some drivers easily make over $1 million per year if you take their endorsements into consideration as well.

The next time that you begin to complain about the cost of life insurance, keep in mind that NASCAR drivers have it much worse than you!