HSBC made me drive down from up north to spend 90 mins in the branch. They couldn't print anything out so sent the final papers to a local branch near me. Not the most exciting day I ever had. They justified me having to make the trip by... err, I can't remember. I felt there was some attempt to size me up in 5 questions about my desire to be a pilot, and my brackground to date. Lucky I didn't tell them about those 5 months at the middle eastern Butlins...
Just kidding. Seriously, the trip to the bank was a waste of time to me, I didn't even sign anything. If you can do it remotely, do.
My mistake about the total insurance sum. Lucky I didn't do that in Stage 4:
"What's 12x21?"
"About
£1200?"
"Get out"
Here's PJIS's numbers:
Term Life Assurance per annum £110.98
Training Bond (Loss of Medical Status) until type rating is achieved or a
maximum of 24 months £367.50
New Zealand - Personal Accident, Medical Expenses and Repatriation £377.89
New Zealand - Personal Possessions and Money to £3000
£110.00 (+ £30.00 to add Personal Liability)
Personal Possessions and Money to £4000
£140.00 (+ £30.00 to add Personal Liability)
I've now seen most of the T&C's behind the policies, and I've reservations about either the Training Bond Cover or the Term Life Assurance. In what I read, the amount payable was only £50K for some scenarios.
Be aware that personal accident and life cover have exclusions from winter sports and "extreme" things. Time to get skydiving cover from somewhere else
MATT - what does your documentation say re your level of cover on these two?
BALPA can provide, through BFS, financial services and insurance including training fees for loss of medical. It looked like a better policy to me, and can convert once you've passed training. The amount of info BALPA sent me on this was far more in depth and helpful than PJIS, IMO.
Was reading a tax thread elsewhere on PPRUNE. Looks like that may be a big no go for CTC Cadets, if not all wannabe pilots.
On the mortgage front, the £60k is gonna have a big impact on you getting one from most major lenders. HSBC say they can still help out as they know the crack, so welcome to being a bitch to the world's local bank for oooohhhh, seven years. Oh well, all my sector pay's going into the repayment black hole when it comes, and I'll be living in a tent on the apron!