Loss of Licence Insurance Comparison

[mustman]

From doing a search I have read up on a couple different options but I would like to hear people who have had experiance with any of the following funds and how it compares with the AFAP option who I am currently with.

There is some good information in the following threads:
- Mark an his issue with AFAP MBF: http://www.pprune.org/dg-p-reporting-points/449379-aap-mbf-trustees-sending-member-toward-bankruptcy.html
- http://www.pprune.org/dg-p-general-aviation-questions/435168-loss-licence-insurance.html
- http://www.pprune.org/dg-p-general-aviation-questions/385462-loss-licence-insurance.html

The options are:
- AFAP MBF
- TWU. Heard rumours that they may be starting something up?
- Cerberos: Pilots Loss of Licence Insurance (http://cerberos.com.au/index.php?option=com_content&view=article&id=14&Itemid=41)
- Comm Insure: Income Protection Australia - CommInsure (http://life.comminsure.com.au/Income_Protection.aspx)

One of my issues is that Loss of Licence cover is to be re-imbursed by an employer as per the award. This is good news for those with Cerberos, however I am therefore guessing that if you had Income Protection through Comm Insure that this is not Loss of Licence and therefore you cannot be reimbursed??

[havick]

Peter Paulos at the TWU in QLD is the guy that is researching loss of licence/class 1 medical insurance if you need specifics.

I too am shopping around at the moment with much interest from the rest of the pilot group that I work with as an alternative to the AFAP mutual benefit fund after hearing a few horror stories about the AFAP fund.

If anyone has any other ideas also please post on here as I am investigating as many options that I can find.

[waren9]

The good thing about the Comm Insure Income Protection policy is that if you cant work as a pilot (as opposed to cant work at all) you get the pay out.

Most other policies require you prove you cant work at all before payout.

[Ando1Bar]

Last I heard CommInsure only covered you if you were a 'real' commercial pilot i.e. flew a jet airliner. Anyone in GA wasn't covered. I was too much of a risk for them given I had propeller blades at the end of my engine.

[mustman]

With this CommInsure is it possible to be reimbursed by my employer?

Here is what the award says about Loss of Licence:

In addition to all other remuneration prescribed by this award the employer will pay to each pilot on permanent hire an annual allowance of up to $1398.00 to assist the pilot to hold adequate insurance against loss of licence.

[waren9]

Strictly speaking, the CommInsure product is an income protection scheme, in the event I cant work as a pilot.

It is not called Loss of Licence and is not a lump sum in the event I lose it.

They may offer a LOL policy now, but they didnt a couple of years ago. Haven't enquired since.

Give 'em a call and see.

[coco-nuts]

Comminsure advised me to take the policy with them as well as the AFAP LOL.

According to them this covered all Potential Scenarios.


cheers


coco