Agent Owner, Gilmore Insurance Services, Marysville, Washington State
The answer is Depends? When you apply for a life insurance policy most all ask about skydiving. If the answer is yes, it will depend on your experience level as a skydiver. There may or may not be extra premium involved, a rider excluding skydiving or a decline. It all depends on the individual.
Now, let's look at this another way. Let's say you purchased a policy in 2011 and in 2012 you decided for your birthday that you would jump out of a perfectly good airplane. Well, didn't go as planned and you died. It's during the contestability period so the insurance carrier will investigate. What they are looking for is anything that ties you to skydiving that was prior to the date of the application. If they find a record (skydiving class receipt) of your intent to skydive and you put "no" as your answer, they can contest the payout. If a year later, on a whim, you jumped out of a plane and it didn't go well, they pay, as long as you didn't have a record of prepaying for the jump that is around the application time.
Yes, if you got a life insurance policy that did not explicitly exclude death related to skydiving, the policy will pay for death that was caused by a skydiving accident. This is taking into account that you did not lie about your past and future skydiving intentions on your application.
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Now, let's look at this another way. Let's say you purchased a policy in 2011 and in 2012 you decided for your birthday that you would jump out of a perfectly good airplane. Well, didn't go as planned and you died. It's during the contestability period so the insurance carrier will investigate. What they are looking for is anything that ties you to skydiving that was prior to the date of the application. If they find a record (skydiving class receipt) of your intent to skydive and you put "no" as your answer, they can contest the payout. If a year later, on a whim, you jumped out of a plane and it didn't go well, they pay, as long as you didn't have a record of prepaying for the jump that is around the application time.