Fragrant HarbourA forum for the large number of pilots (expats and locals) based with the various airlines in Hong Kong. Air Traffic Controllers are also warmly welcomed into the forum.
Just wondering about peoples thoughts on the AOA LOL insurance? My Financial adviser is trying to talk me into a policy with a company named Tower. Obviously they want me to go in that direction so they get there comission, but i would prefer to go with the AOA's if it is comparable. Would appreciate any thoughts or actual experiances with either of these policies. Cheers
Yeah after a bit of asking around it's not the first time i have heard it refered to as cheap and nasty! Have also been hearing quite a few stories about not getting paid out and even when you do it is an agonizingly long process to get there.
I have been dealing with the income protection scheme from the AOA for just under ten years. I still have to fill in numerous forms every month but I seem to have got the hang of it now. At least I do get paid. Please guys take out income protection !!! You just never know when something might happen. Sport etc I know it's expensive but shop around and at least you'll have peace of mind. One last thought. Don't take all this headache within too seriously as when you finish and look back at those years, you'll soon realize that it was really insignificant. Go out and enjoy the good bits !!!
I,personally, have claimed from AIG under the AOA policy, successfully. If anyone knows a policy that does not have an alcohol impairment condition please advise me as I have not seen one.
Who cares about alcohol impairment!! What about legitimate claims made by members with legitimate injuries that are being delayed, ignored, passed from Doctor to Doctor. Then only to have more delays. I have been battling for over 2 years to get to where I am now. Which is no where. Legal assistance from AOA = 0, AOA care factor= 0. I'm sorry but the AOA LOL Insurance with Topcover is an absolute disgrace.
Just to keep this thread alive, and to let all know what a stirling insurance company Topcover is. Have now sent approx 5 emails to Topcover since last post. Have heard nothing.............have referred my case to the Insurance Complaints Board in Hong Kong. Stall, stall again.........when they run out of excuses they just ignore you. Pathetic.
Guys, this is a rumour network. With something as important as insurance you would be better advised to obtain the FACTS.
The HKAOA provides the Group TopCovr insurance because it is the most suitable policy for professional pilots. A huge amount of effort and diligence has gone into this over the years. All the facts are available at the HKAOA office and MEMBERS are advised to seek advice there.
The recent insurance newsletter informed members about our claims experience - which is good. Many members have been paid, and are still receiving monthly benefits. If you think someone has a problem getting paid, then ask the HKAOA office for the facts. All members who are claiming should always advise the office and seek the support of our staff in processing their claims.
Buzzsaw/B&H: the aoa are better suited to giving away our ing CoS than giving advice on income protection insurance. The aoa offer only one choice - Topcover who they have a deal with. There are many better products out there. See a proper insurance adviser who can explain the strengths and weaknesses of each. Topcover may suit if you're within 5 years of retirement (they only pay for 5 years), not going to have a mental issue (50% of pilot claims are) and have the time to do battle with them for payout...cheap and nasty. Otherwise get an Insurance adviser to run through the proper insurance options. PM if you want a contact.
It is a highly specialised product with relatively few market players. There are varied products around - some cover psychological issues, others don't. Some have lump sums available to members who need to protect, for example, mortgages or other financial commitments - others don't.
As COS change - particularly with reference to retirement ages - so these insurance arrangements need to change.
For those interested in different alternatives, you can learn quite a bit from BALPA's in-house independent financial advisors website - BALPA Financial Solutions - contact Peter Gilbert the MD.
The main thing is to keep all of these things under periodic review and, where it makes sense, have alternative products available so that members varying needs can be met.
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ing CoS than giving advice on income protection insurance. The aoa offer only one choice - Topcover who they have a deal with. There are many better products out there. See a proper insurance adviser who can explain the strengths and weaknesses of each. Topcover may suit if you're within 5 years of retirement (they only pay for 5 years), not going to have a mental issue (50% of pilot claims are) and have the time to do battle with them for payout...cheap and nasty. Otherwise get an Insurance adviser to run through the proper insurance options.
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