Life insurance to cover secured loan
I’m considering applying to Flight Training Europe and getting a loan to pay for the course (with the help of a guarantor). However, I would like to make sure I have a decent life insurance policy.
Does anyone have any recommendations for companies that offer life insurance and loss of medical cover before taking a loan for flight training. If, for example, I died or was seriously injured during or after the course (during the loan repayment term), I want to make sure that the life insurance covers as much of the loan as possible (ideally the whole amount) so that someone else isn’t left with my debt.
I assume many people have had these concerns, although I haven’t managed to find much info about it. I imagine there may be a few insurance brokers that a lot of students have used? FTE weren’t able to offer me any advice about this.
What sort of cover is possible?
Is cover for the full course cost a possibility?
Roughly how much do these policies cost?
Any recommendations for good insurance brokers for this sort of cover?
I assume loss of medical cover would give a much lower payout – especially before actually having a job, and isn’t as big a concern as life insurance. Any advice about this? I think BALPA offer loss of medical cover but don’t know any details.
Thanks for any advice!