Condition causing loss of license could have started during the time that a person has already been employed by the company for number of years. Let's say someone starts having doubts about capability to continue flying one might start looking for an extra loss of license protection.
If joining date to LIPS/API or to any other loss of license insurance/program has been after this condition has started causing symptoms or been diagnosed I would assume all of them would reject the claim based on pre-existing condition.
In this case company loss of license would pay, extra insurance would not.