Life insurance for expat Canadian pilots?

[Carrier]

Is anyone able to recommend a life insurance company that will offer cover at a reasonable price and without all sorts of exclusions to Canadian professional pilots who are working outside of Canada? There are many Canadian pilots working elsewhere in the world, either on a contract for a term of years or on an indefinite basis. This does not make us any less Canadian and should not be a reason to disqualify us from Canadian life insurance cover. I have tried several possibilities and the standard response is that they only offer cover to someone who is currently resident in Canada! Even if that was complied with most would then throw in all sorts of exclusions.
Two operations in particular claim to offer life insurance to professional pilots but they have both proved to be useless. The first is called Professional Pilots Insurance Centre and is run by two guys named Bruce Wiebe and Bruce Sinclair in conjunction with Co-operators Life Insurance Company of Guelph, Ontario. Although PPIC through its name claims to offer insurance to professional pilots without qualification it actually only offers cover to professional pilots who hold an ATPL and who are resident in Canada. Apart from the residence issue, I consider it insulting to the vast majority of Canadian working pilots who hold a CPL to imply that they are not PROFESSIONAL pilots! The second operation is The Pilot Insurance Center (PIC), which advertises on AVweb. Their name implies that they offer cover to all pilots, not just professional pilots. However, when I contacted them while I was still in Canada I was advised that they only offer cover to pilots who are resident in the USA. Haven?ft they heard of NAFTA and its predecessor? How many peoples?f time have these two operations wasted through their misleading names? They should more truthfully be renamed Airline Transport Pilots Insurance Centre and The US Pilot Insurance Center respectively!
Thanks in advance for any names and contact information.

[Carrier]

I am surprised that there have been no replies to this. Am I the only Canadian pilot overseas who bothers with life insurance?

Here’s another thought. I basically believe in free markets, privatisation and competition. However, where the private sector is obviously failing Canadians there is a valid case for government intervention. As the private life insurance companies seem to have failed expat Canadians perhaps it is time for government intervention in this industry to solve the problem. This could be through government controls of the policies, benefits and premiums of private companies as some provinces have with car insurance (e.g. Ontario), or through governments taking over the life insurance industry in their jurisdiction as some provinces have with car insurance (e.g. British Columbia). I recognise that government management always has poor service, excessive costs, etc, but the simple fact is that a policy with poor service, excessive costs, etc is better than no policy at all!

What do other expat Canadian pilots think is the solution?

[dareya]

I had life insurance through a private company - prior to leaving Canada. They told me that if I had known I was going overseas, prior to subscribing, that I would not be eligible for coverage.

[bound_for_dubai]

I doubt any Canadian insurance company will cover you if you leave. I mean its the Canadian Insurance Company. Its hard enough collecting money from them here much less trying to get something when overseas.

[dareya]

bfd - You are wrong.....again. They continue coverage if you are already covered. I do not know about getting a new policy though.

[bound_for_dubai]

Insurance companies are like the MAFIA. Why not get coverage by an insurance company in the country you are working. That way you don't have to worry about the insurance company slipping through legal holes and creating problems for your family.

Does the company you are going to work for not have life insurance?

[dareya]

Yes - the company I work for does have life insurance. However, it is always wise to have too much rather than too little. Most of us have wives and kids, and if something were to happen, they would return home. Hence, it is easier to deal with the insurance companies in Canada.

[dooner]

I have had a policy for a number of years and I just wire transfer every year without any problems.

In fact thanks for this thread because I am due in November for renewal, so I better get on it

Dooner:ok:

[click]

I was told to take a real long hike by a local insurance broker back home. The suggestion was to take a look at the UK market and see if someone will issue a policy. The second question was: Where exactly do you fly? After mentioning TLV and BEY amongs others, there was a looooong sigh and the conversation ended. For those wondering why some expats don't take out policies in the countries where they fly...1. My family will get diddly squat should I become a statistic because the local market can't fathom values beyond $20 000 CDN. 2. The law here is an arse, you have no rights and try and collect! I know it sounds like back home but it's a fact here. This country is a gem among banana republics when it comes to corruption. :\
Just about the only good things here are the beer and the :E

And we still beat them in hockey! Yeah! The flags are always out to harass the neighbors:}

[Willie Everlearn]

Carrier.

Don't touch anything with CANADA as a basing. That includes banks.

To maximize your off shore status go with Term Insurance. Ask your financial advisor about it. Transamerica out of KSFO comes to mind as one of the bigger insurers in the game.

All ties to the mother ship should be severed to keep it simple for Revenue Canada. AND for you.

;)

Willie