Loss Of Licence Insurance
Guest
Posts: n/a
Loss Of Licence Insurance
Hi all,
I am looking for a specific opinion of an insurance company. I am a Qlink FO looking to change from the AFAP to AIPA and I am looking at arranging my own loss of licence insurance.
Has anybody had any dealings with a company called Cerberos Brokers PTY LTD? If so, are you happy with that company?
Apparently there are about thirty or forty Qlink members in AIPA who are covered through Cerberos so it would be interesting to find out.
Thanks in advance
Maloo
I am looking for a specific opinion of an insurance company. I am a Qlink FO looking to change from the AFAP to AIPA and I am looking at arranging my own loss of licence insurance.
Has anybody had any dealings with a company called Cerberos Brokers PTY LTD? If so, are you happy with that company?
Apparently there are about thirty or forty Qlink members in AIPA who are covered through Cerberos so it would be interesting to find out.
Thanks in advance
Maloo
I have gotten some quotes from few companies, and plan to change out of my company LOL policy to Cominsure. It appears the Cominsure income protection insurance (IPI) as offered through Cerberos Brokers is one of the best, however you can also get it through any Commonwealth Bank insurance broker. I have been informed by Cerberos that an AIPA discount applies, but if you then leave for another company / country this policy can continue with you and they keep the discount on. Just received some quotes from them and will compare with another broker for same product.
Be aware that IPI is very age dependent, and covers up to 75% of your income or of an agreed amount. So it must be tailored specifically to your case.
RM
Be aware that IPI is very age dependent, and covers up to 75% of your income or of an agreed amount. So it must be tailored specifically to your case.
RM
Join Date: Nov 2003
Location: Melbourne
Age: 60
Posts: 952
Likes: 0
Received 0 Likes
on
0 Posts
New members
Mr Flappy,
The MBF will be taking a vote (12 May) on whether to have Austair operate as trustees of the fund.
If Austair become the fund trustee, then the MBF will allow new members.
IMHO, explained here quite well (from the other thread)
http://www.pprune.org/dg-p-reporting...ml#post5632344
(Post #139 if the link doesn't take you there)
DIVOSH!
The MBF will be taking a vote (12 May) on whether to have Austair operate as trustees of the fund.
If Austair become the fund trustee, then the MBF will allow new members.
IMHO, explained here quite well (from the other thread)
http://www.pprune.org/dg-p-reporting...ml#post5632344
(Post #139 if the link doesn't take you there)
DIVOSH!
Join Date: Jul 2008
Location: south pacific vagrant
Posts: 1,334
Likes: 0
Received 0 Likes
on
0 Posts
I have the loss of licence insurance from Cereberos. It is underwritten by Lloyds of London.
Dont know how it compares like for like with the AFAP MBF fund because I'm not AFAP but if anyone want me to answer any specifics feel free to ask.
The agent I dealt with Innes Stafford is excellent and seems to understand pilots.
Maximum you can insure is greater of $500,000 or 4 times your salary (for 30-39yr olds) and for that I paid $1559/p.a.
Extras include
Loss of licence due to:
1. Accident or illness (100%)
2. Undiagnosed or substance illness (upto lesser of 25% or $50,000)
3. Temporary disablement (monthly payout varies depending on reason but from 0.5% to 2% per month limited to max 75% of gross monthly salary)
4. Death by accident ($100,000)
Give some thought to income protection. I think sometimes it can be better value and offers 75% of your nominated salary until you are 60 or 65 (cant remember which). My policy pays if I cant be a pilot. Most only pay if you cant work at all.
Dont know how it compares like for like with the AFAP MBF fund because I'm not AFAP but if anyone want me to answer any specifics feel free to ask.
The agent I dealt with Innes Stafford is excellent and seems to understand pilots.
Maximum you can insure is greater of $500,000 or 4 times your salary (for 30-39yr olds) and for that I paid $1559/p.a.
Extras include
Loss of licence due to:
1. Accident or illness (100%)
2. Undiagnosed or substance illness (upto lesser of 25% or $50,000)
3. Temporary disablement (monthly payout varies depending on reason but from 0.5% to 2% per month limited to max 75% of gross monthly salary)
4. Death by accident ($100,000)
Give some thought to income protection. I think sometimes it can be better value and offers 75% of your nominated salary until you are 60 or 65 (cant remember which). My policy pays if I cant be a pilot. Most only pay if you cant work at all.
