Yes, life insurance policies may cover skiing.

If you are a recreational skier, there will not be any difference in your price than if you did not ski at all. Your life insurance policy should pay out a death benefit whether your death occurred by illness or accident, even if it was a skiing accident that was the cause of your death. 

Your rate for your life insurance coverage might be higher, or the skiing might be excluded as a cause of death, if you are a professional ski...