Life Assurance

[Heliplane]

I wondered whether anyone knows generally how much being engaged in recreational/private flying activities will add to the premium of a life assurance policy (perhaps as a percentage).

I'm 31 and fortunately a healthy, fit, non-smoking individual with no relevant history of illness. My only vice is flying light fixed and rotary wing aircraft and I would like to get life cover that does not leave me uncovered whilst I am engaged in these activities.

I've tried searching for similar threads but to no avail - any thoughts/insight/experiences gratefully appreciated.

Thanks!

[the dean]

may depand on what you are flying..( fixed or rotary ),...where you are flying...and how much you are flying ( of either )...

it may even depend on your level of experience and what sort of risk you are considered. i think on one occasion i was not charged anything for recreational flying..but that was some years back. i think i am charged a loading now but to be honest i cannot recall how much nor on which policy even to check and give you some idea.

one way or another, it will probably be used to get some more money out of your pocket..

however best to declare it and take it on the chin ( or threaten to change insurers )..no point in having cover..thinking your missus and kids are covered..if after you have blasted off they find the insurers renage on the policy/ies due to lack of disclosure.

ask for a quotation warts and all.

its the only way. good luck and safe flying..:ok:

the dean.

[avidflyer]

Incidentally it's worth telling your (company or private) pension provider as well. Mine was entirely unworried by my flying exploits but your provider's MMV

[Humaround]

I may be missing something here, but why would your pension provider be concerned/interested?

After all, they are the reverse of a Life Insurer, they only pay out if you DON'T die...

If you have any hassle from your Insurance company, go to a specialist Aviation broker - they will be happy to arrange Life Insurance (or even Assurance possibly) at a competitive rate.

[kevmusic]

I've just got life cover for 180k for <£47p.m. which allows 100hrs flying a year; and that's cheaper than my old policy without the flying! I'm 53, admitted to 26 units a week :hmm: and palpitations. PM me for details.

Kev.

[Mad Girl]

I may be missing something here, but why would your pension provider be concerned/interested?

After all, they are the reverse of a Life Insurer, they only pay out if you DON'T die...


Some companies provide a pension and life cover combined.

My company has a 4x salary "Death in Service" benefit attached to my pension.

I declared my flying interest to them and got it comfirmed "in writing" that in the event of anything happening it would make no difference to the payout and neither my company nor I had to pay anymore.

Verbally being told it was ok was no good to my relatives in the event of a dispute.

[waldopepper42]

Don't tell 'em you plan to fly aerobatics (if you do, that is). I had an initial estimate from Norwich Union of £58 per month that increased to £162 per month when I put aerobatics competitions in the detailed application form!!!!

[119.35]

My quote for £300k worth of life cover went from £33 per month to £86 when I said that I was training to get my PPL. I was also told that insurers don't like PPL/Single piston engine flying and that the premium wouldn't have been loaded if I was an airline pilot flying day in, day out.

That was Friends Provident by the way.

[Gertrude the Wombat]

0p extra in my case, having filled in the aviation questionnaire and sent it off.

Might be different depending on what you're wanting to do - in my case I made it clear that I rented club aircraft in a properly controlled environment, and didn't do any aerobatics or anything else weird ... like rotary, whoops!

[bigdunk]

just be very clear and honest about the hours you are intending to do and the type of flying you will be carrying out Some companies do not increase the premium just because you fly. I advise in this area and have put policies on risk. Happy to discuss with you if you need any assistance.

[Trinity 09L]

The cheapest form of life insurance is "whole life" or term insurance. I used the company quoted above - NU - they accepted me as a ppl :ooh: Also use one of the comparsion sites and search around for the best deals.

[Redbird72]

A cheaper way may be to have flying excluded from your "normal" life insurance and buy a separate Personal Accident purely for flying.

I made a vague enquiry a short while ago, and I think I could get up to 4x salary as a death benefit for a premium of 100-150 per year. This would have been with a Lloyd's Syndicate via a broker.

I would imagine any aviation insurance broker advertising in the the UK magazines would be able to advise you on likely costs.

[tacpot]

I obtained £330K of life insurance for £23/mo and I'm 43. This included upto 100hrs per year of PPL flying, this was with On Risk Ltd. www.onrisk.co.uk (http://www.onrisk.co.uk)

[Major Major]

I'm paying about £32/mth for £500k cover. It put about £5 on the cost.

I was asked for hours (I plumped for about 26) and type of flying (non aeros...for now).

Also I had to tell them whether I've had any medical procedures, one of which was ECGs, so put down that I'd had an ECG for my medical. It went to the underwriters for approval but that's probably standard.

I think it's with Legal & General.

[Cusco]

When I took up flying I still had small kids and a s*dding great mortgage and already had in place numerous life policies:I contacted all the providers who all told me that because when the policies were taken out (15 years previously), I at that time had no intention to fly then I would continue to be covered for flying at no extra cost.

As for Life insurance after you've started flying, be careful not to confuse 'Life Assurance' with 'Accident insurance'.

For example I took out a large life policy with income cover with Besso and supposedly on the basis of this flew for a coupla weeks in the USA a few years ago.

When I got back I realised that the policy did not include any medical costs/repatriation costs etc if I had had an accident. Certainly raised the hairs on the back of my neck.

Now when I travel to USA to fly I get travel/accident insurance from Traffords just in case it all goes t*ts up...............

And Renter's insurance too but that's a whole new can of worms..

Safe flying

Cusco;);)