Loss of Licence Insurance
Join Date: Dec 2011
Location: RAINBOW
Age: 40
Posts: 33
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Thanks for the information Gregho! That company never seemed me a good ad honest one; but I've doubts about mine which is SAAM Insurance as well. So I'm still trying to find the best option.
Join Date: Mar 2020
Location: UK
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Something else that's very popular is income protection insurance (called disability insurance in some countries). The plan pays out a monthly income if the policyholder is too ill or injured to work and could continue payout all the way up until retirement age if the policyholder can never return to work (think Parkinson's, for example).
This isn't a pilot specific insurance but the good plans cover the policyholder for their 'own occupation', making it occupation-specific. I think a key benefit of income protection over loss of licence insurance is that you don't need your licence to be revoked or suspended to get a payout, you just need medical evidence from a doctor/consultant that you're not well enough to work. There are plenty of scenarios where your licence might not be suspended but you're too ill to work.
Tom
This isn't a pilot specific insurance but the good plans cover the policyholder for their 'own occupation', making it occupation-specific. I think a key benefit of income protection over loss of licence insurance is that you don't need your licence to be revoked or suspended to get a payout, you just need medical evidence from a doctor/consultant that you're not well enough to work. There are plenty of scenarios where your licence might not be suspended but you're too ill to work.
Tom
Join Date: Jan 2006
Location: austria
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SAAM - WARNING ! Stay away . I have a case with them, won in the court against them, they refused to pay ! Waiting for 2 years + and now with a final judgement against them, they still refuse to pay . I did the mistake to trust this forum , where they announced themself as a good insurer - Be aware, they created from beginning of my claim troubles, even two AME stated I am unfit to fly , even the court has decided I am eligible, they do not pay.
Join Date: Feb 2017
Location: Sydney
Posts: 79
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SAAM - WARNING ! Stay away . I have a case with them, won in the court against them, they refused to pay ! Waiting for 2 years + and now with a final judgement against them, they still refuse to pay . I did the mistake to trust this forum , where they announced themself as a good insurer - Be aware, they created from beginning of my claim troubles, even two AME stated I am unfit to fly , even the court has decided I am eligible, they do not pay.
