View Full Version : Help please / RE: Loss of Licence
cptbb
15th May 2014, 06:10
Hi everyone,
I am an older pilot (almost 60 years), looking to take out "Loss of Licence" insurance. Please will you share / advise which Australian company you are with.
Happy flying and thanks for your help.
:ok:
cptbb
I am sorry to advise that nearly all loss of licence insurance providers cease providing loss of licence insurance once a pilot rerachers an age of 60. I am only aware of one insurer in London who will provide loss of licence cover up to 65 but the benefits are minimal and the premium is very expensive.
CR82
hurlingham
17th May 2014, 08:43
Yes they are. - $1100 approx for about $40k
BugSmasher80
18th May 2014, 01:15
Talk to Trudy at AvInsure
Besides the Mutual benefit fund, is there anything insurance that reaches the levels of payouts they offer?
cptbb
20th May 2014, 03:17
ATTN: CR82, hurlingham, BugSmasher80, tfal
Thank you for your replies / input. Will look into. Happy Flying:ok:
VH-XXX
20th May 2014, 03:36
A standard income protection policy may offer similar outcomes as a "loss of licence" insurance would.
Many mortgage provider also offer insurance if you are retrenched or unable to work if you have a mortgage with them.
I've got one that pays for my mortgage for 8 months if I lose my job or can't work because of an accident. It wasn't an expensive policy. Even better if you've loaded up your mortgage with your Aston Martin or similar as it covers that too as it's wrapped up in the mortgage.