Loss of income (licence) insurance
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Join Date: Oct 1999
Location: The Fragrant Harbour
Age: 49
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Loss of income (licence) insurance
Hi all
I am just wondering what companies you use for your loss of licence insurance, and what the premiums are like. I have just recieved my bill for the next year from Noall Insurance in Sydney. It is the equivilant to 1/2 a months salary. (housing included) The amount covered is 75% of Salary + Housing.
I am not an AOA member but if maybe a member can give us an idea on how their scheme compares, it may be a useful recruitment tool for the association.
Please no slandering or AOA vs NON AOA etc... just some constructive discussion please, i feel we are all in the same boat re excessive premiums.
Thanks
Flying Kiwi
I am just wondering what companies you use for your loss of licence insurance, and what the premiums are like. I have just recieved my bill for the next year from Noall Insurance in Sydney. It is the equivilant to 1/2 a months salary. (housing included) The amount covered is 75% of Salary + Housing.
I am not an AOA member but if maybe a member can give us an idea on how their scheme compares, it may be a useful recruitment tool for the association.
Please no slandering or AOA vs NON AOA etc... just some constructive discussion please, i feel we are all in the same boat re excessive premiums.
Thanks
Flying Kiwi
flyingkiwi
Our wonderful income protection has just seen another increase in premiums and a slashing of the benefits. Payout is now limited to 5 years. Personally I am now looking for alternative income protection because the one now through the AOA is a joke.
Oh and please don’t take this the wrong way, but AOA membership is more than just the benefits. It is about housing, rostering, remuneration etc. If you aren’t in the AOA then you can’t have your say in these and other important issues with the company. The more that are in then the more it will be representing of the pilot body.
Our wonderful income protection has just seen another increase in premiums and a slashing of the benefits. Payout is now limited to 5 years. Personally I am now looking for alternative income protection because the one now through the AOA is a joke.
Oh and please don’t take this the wrong way, but AOA membership is more than just the benefits. It is about housing, rostering, remuneration etc. If you aren’t in the AOA then you can’t have your say in these and other important issues with the company. The more that are in then the more it will be representing of the pilot body.
Thread Starter
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Thks Titan,
The Noall loss of income will continue paying till age 55.
Any others out there with thoughts and/or different companies they use?
Re AOA vs NON its off the topic lets keep it about the insurance companys
The Noall loss of income will continue paying till age 55.
Any others out there with thoughts and/or different companies they use?
Re AOA vs NON its off the topic lets keep it about the insurance companys
Join Date: Aug 2001
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I am actively researching alternative providers of this insurance. I encourage those out there to do the same and post when you get some good feedback from the suppliers.
We could all do with a better product a reasonable rates. The company that gets it right deserves to get alot of the Cathay pilot's business.
Talk about taking the wind out of your sails!
We could all do with a better product a reasonable rates. The company that gets it right deserves to get alot of the Cathay pilot's business.
Talk about taking the wind out of your sails!
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I had a meeting a while back with a AIA salesman, basicaly he didnt have much of a clue and from what i gathered they had nothing close to the sort of insurance we need.
any other CX/ or other airline guys out there using other companies??
any other CX/ or other airline guys out there using other companies??
Join Date: May 2000
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Concept Benefit Planning in Brisbane are trying to get something up and running at the moment. Should know in the next week or two.
Unfortunately, at the moment they can only offer policies to crew that are employed by Australian companies.
Unfortunately, at the moment they can only offer policies to crew that are employed by Australian companies.
Join Date: Dec 2002
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Any updates on this matter? I wonder what the recent outbreak of meteoric premium rises have been due to.
Me thinks going without insurance for the next little while will have to do...
Me thinks going without insurance for the next little while will have to do...
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FPI (friends provident) have been banging on my door sayingthey have something for me, i have just been to busy to organise a meeting with them. Will let you know as soon as im in touch with them
Join Date: Mar 2001
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Yes. Contact Kevin McGlynn on 28271199 at Financial Partners International for details of income protection insurance he is co-ordinating. Expect to pay around 50% of Noall's premium, for a similar but not identical policy. Although not cheap, it's the best available.
Tonto,
That sounds like the best of a bad bunch. Appreciate any more info you have. (as would many others at KA) Is it OK to give him a call ?
Thanks, Oz2
That sounds like the best of a bad bunch. Appreciate any more info you have. (as would many others at KA) Is it OK to give him a call ?
Thanks, Oz2
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Yes, that is a HK number. I would recommend giving him a call. He'll explain the differences between the Noall policy and this coverage and you can make an informed decision. As I said there are a number of differences, none of which were too objectionable in my opinion. You're right - it's the best of a decidedly average range of insurance options, but better than none at all!
