Flying pay insurance.

[Talk Reaction]

Al

I paid for years for FP insurance - I can't remember the company, think there were only 2 and one had set amounts dependant on FP rate and the other allowed you to select in 10K steps. I was with the latter and got a letter perhaps 18 months ago saying they were no longer offering the policy, thanks for all your money to date, we're off (seemed wrong to me but there you go)

I would still be paying for it now were it available so I think you have a market. After all, it only needs a car accident/fall/get lamped in a pub and bye bye med cat.

I can't comment on transfer to civil side, seems sensible to me though.

I also pay for accident insurance (PAX type) as anyone in our job is wise to do given the deployment schedule so I also would be interested if it covered other aspects as you described.

Look forward to hearing more. Thanks

[Megawart]

Insurance

Hi Al,

I looked into this after becoming PA and found 2 things:

1. The cost was extortionate at my age (45)
2. Nobody knew what PA was, hence the policies were only geared towards loss of flying pay.

I'd still be interested if there was a way of insuring my full PA pay against loss of flying medical cat.

Good luck

[Al R]

I'll certainly keep you informed.

The world of mil insurance is pretty fluid at the moment. My preferred insurer for RAF Groundcrew etc has just decided that no longer, can it protect them from the same loading that the infantry faces. Its probably been a while since adminers asked me to fill out an F010 for them.

I agree with what Minigun and one or two others mentioned about risk perception. When a married family man protects his phone handset from loss, but has no life cover (apart from the 4 times Death in Service benefit of course), it shows how invincible we think we are when young.

[Seldomfitforpurpose]

Or possibly the cynics amongst us have to come to realise over time that Insurance Companies do not sell you insurance as a favour and that Inevitibly somewhere in the hidden detail there is will be a clause that allows the thieving pikey barstards to not pay out

[Al R]

With a claim on a life policy, its a bit difficult to argue the facts.. as long as its not suicide, etc. But you're right - some I wouldn't touch with a barge pole.

An EOD operator, based in the UK is still rated higher than any FJ aircrew, Red Arrow pilot, or rotary stude. The major underwriters all gravitate towards particular niches within the RAF 'community'. It won't be unusual to place a FJ pilot with more than 1 carrier (for Life and Critical Illness Cover), for maximum effect.

The problem arises when people blag it on the underwriting forms. Crazy really, when most companies have a fair degree of latitude and flex anyway. If it costs 200k+ to raise a child to Uni age, it ain't worth jeapordising that for the sake of a quid or so extra loading because you have a few jars a week.

[dctyke]

Is a Grob insurance group one going up to a Typhoon at group 50

" So you are a 22yr old Fg Off with 3yrs no claims on Tucano and Hawk....... and you now have a, er, Typhoon? " ££££££££££££

[Pontius Navigator]

On invincibility, I once bought an insurance policy with a huge sum assured - £2000. The main selling point as far as the broker was concerned, a charming and trustworthy chap from Faldingworth, was the suicide clause which kicked in after 6 months.

Maybe the old chap knew a thing or two although I know of only one deliberate suicide.

Risk wise though I could not see the point of a suicide clause. At the time I had no intentions of getting married but the policy paid out hansomely at our 10-year point .

[Al R]

but the policy paid out hansomely at our 10-year point .

If one of those paid out well, it must have been in Groats?