Loss of Licence and Life Insurance for Pilots

[FRQ Charlie Bravo]

Hello fellow PPRuNers,

I've recently been spurred into action by the sudden and unexpected loss of a friend with a young family to ensure that my own young family is insured as well as needed but I'm finding the search for appropriate cover to be a bit confusing.

Originally I was just looking for simple life insurance from a commercial provider, something around $350,000 seemed reasonable and affordable... but then these companies try to sell "Critical Illness" and "Permanently Unable to Work" cover. Well, this sounds like something that would be covered by Loss of License cover.

I would love to hear what other pilots in similar circumstance have decided to do. My concerns and needs are these (in order of priority):

1. Life Insurance of around $350,000 (for the fam of course),
2. A means of paying the bills if I can no longer do any type of work (here in GA Land I still don't earn much but I'm waiting for the investment to pay off so Loss of Income cover of 4 x my current wage is just not enough),
3. If I can no longer fly but can still do other work I'll need a means of paying the bills and recouping the investment in my Pilots License and associated training,
4. These needs to met by one product

I have searched PPRuNe and haven't found much relevant info in D, G & P in the last few years. I'm keen to get this sorted before too long so I can sleep more soundly and stop hunting for insurance in the wee hours.

Thanks in advance,

FRQ CB