Loss of license insurance
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Loss of license insurance
Has anyone used these guys for loss of license insurance?
Air Pilot Loss of Licence Cover| Australian Air Pilots Mutual Benefit Fund
Their premiums are about 1/3 of what I'm currently paying to comminsure!
Air Pilot Loss of Licence Cover| Australian Air Pilots Mutual Benefit Fund
Their premiums are about 1/3 of what I'm currently paying to comminsure!
Frogman1484.
AAPMBF is available only to members of the Australian Federation of Air Pilots (AFAP).
It is by far the best available, and if you are in it for over 20 years, conditionally, you will recieve back, all your premiums.
Run by pilots for pilots. No parasitic commercial entities involved.
It is that to which all the ALPA's should aspire.
Maui
AAPMBF is available only to members of the Australian Federation of Air Pilots (AFAP).
It is by far the best available, and if you are in it for over 20 years, conditionally, you will recieve back, all your premiums.
Run by pilots for pilots. No parasitic commercial entities involved.
It is that to which all the ALPA's should aspire.
Maui
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Cx provides 2 years LOL. Which is fine if you can get back on your feet after 2 years. If you have something serious like a stroke or something that does not allow you to go back to work, what do you do once the money runs out?
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the way i understand is this, quite simply every flight crew has a LOL policy in KA/CX as per CoS.
please correct my misunderstanding if any.
Each policy has a lifetime protection limit of approx 2Mill HKD, from a British Policy writer.
in the case of Total (Perm) LOL, then obviously, max pay out is this limit... and no more.
in case of a junior Captain, i guess "2" years seems unrealistic (unless CX's LOL differs from KA's, and the protection clearly indicates 24 months salary). HKA/E... chance of anything more than pay as you work seems slim.
in case of any previous Temporary LOL claim, this policy per life time limit will reduce and will deduct any previous claims from it... so the math is simple... it is insufficient to cover any financial burden... the x number of flats' mortgage, hospitalisation, cost of living for family even for a reduced standard of living and obviously, when Total LOL... there odd to be something seriously wrong in one's health... and surely... some food for thoughts for what protection (if any) still has (for how long). open for discussion.
will take a look thru the aapmbf .. but a quick skim seems it is an Oz policy only for whom is an Ozie or working in Oz, AND age less than 50, AND will payout ONLY if one's Ozie (Not any country or HK) Class one Medical is Lost. and assuming a subscription to an age 65,
the closer to age 50, the less coverage...
please correct my misunderstanding if any.
Each policy has a lifetime protection limit of approx 2Mill HKD, from a British Policy writer.
in the case of Total (Perm) LOL, then obviously, max pay out is this limit... and no more.
in case of a junior Captain, i guess "2" years seems unrealistic (unless CX's LOL differs from KA's, and the protection clearly indicates 24 months salary). HKA/E... chance of anything more than pay as you work seems slim.
in case of any previous Temporary LOL claim, this policy per life time limit will reduce and will deduct any previous claims from it... so the math is simple... it is insufficient to cover any financial burden... the x number of flats' mortgage, hospitalisation, cost of living for family even for a reduced standard of living and obviously, when Total LOL... there odd to be something seriously wrong in one's health... and surely... some food for thoughts for what protection (if any) still has (for how long). open for discussion.
will take a look thru the aapmbf .. but a quick skim seems it is an Oz policy only for whom is an Ozie or working in Oz, AND age less than 50, AND will payout ONLY if one's Ozie (Not any country or HK) Class one Medical is Lost. and assuming a subscription to an age 65,
the closer to age 50, the less coverage...
Last edited by hekokimushi; 27th Feb 2013 at 22:17.
