skadonk
3rd Jul 2014, 13:48
I’ve been looking at the various life insurance options available to pilots and found the premiums range a huge amount. The monthly premiums for US$225 000 of coverage over 25 years:
EPC life cover $40
Top Cover $24
Regular internet product $15
Assumptions:
• age early 30s
• non-smoker
Notes:
EPC premiums range with age and so the monthly premium has been averaged over the 25 year term.
EPC premiums could increase during coverage.
Top includes $1000/month loss of licence insurance for max 5 years or age 60
Top cover includes death by accident or illness but not death at work (flying).
Top cover premiums could increase during coverage.
Internet product covers death by terminal illness and accident.
Internet product covers commercial pilots at work but not private flying.
Internet product premium fixed for 25 years.
These are just 3 examples to illustrate the wide range in fees. There are other options; you need to do your own homework. Feel free to add more info.
EPC life cover $40
Top Cover $24
Regular internet product $15
Assumptions:
• age early 30s
• non-smoker
Notes:
EPC premiums range with age and so the monthly premium has been averaged over the 25 year term.
EPC premiums could increase during coverage.
Top includes $1000/month loss of licence insurance for max 5 years or age 60
Top cover includes death by accident or illness but not death at work (flying).
Top cover premiums could increase during coverage.
Internet product covers death by terminal illness and accident.
Internet product covers commercial pilots at work but not private flying.
Internet product premium fixed for 25 years.
These are just 3 examples to illustrate the wide range in fees. There are other options; you need to do your own homework. Feel free to add more info.