Canadian Life insurance
For those in Canada, its a little different.
Talking about personal policies, not group benefits.
They cannot exclude you for flying homebuilt after the fact. If you have older policies you are golden. I sell insurance to new pilots all the time, no issue....but the trick is to get it in place while you are a PPL flying certified planes, before your homebuilt is flying. They ask hours, years, type of planes you fly.
Several insurers in Canada treat private pilots as general risk, no issue or added cost and you fill out an aviation questionnaire. If you fly "Experimental or Homebuilt" you are rated or flat out denied.
Once the policy is in force they are locked in and you were 100% honest at application time. If you take up flying experimental planes after or even start smoking or sky diving etc....the policy is in force...they have to pay...that's just the way it is on our side. So...Canadian builders....get your insurance early. It is a dangerous hobby and you have to not only protect your family, but know 100% clearly what the fine print says.