Income protection and death insurance

[Mr. Hat]

Hello fellow ppruners, I've been putting off addressing this issue in my life for long enough.

I'm wondering where most of you guys and girls go for this sort of thing. At the moment I've got Loss of Licence thru my union membership but am looking to see what else is out there. Some have told me comminsure or astron ect. I guess I'm looking for what other options are available and how others have prepared for these unfortunate situations.

Regards, Mr. Hat.

[Ando1Bar]

It's a tough one, most of the insurance companies don't consider you a pilot unless you fly for the airlines. Anything smaller and you're a 'risk'.

12 months ago I couldn't find any income protection insurance that would cover me in GA. All I could get was insurance if I suffered a serious injury, i.e. trauma, and a top up on my life insurance. I spoke to a broker at XLife and they organised Astron for me, approx $60 a month.

[Kwod]

As well as what Mr Hat has proposed, could ideas plz be floated re putting assets in spouses name etc? I recall some mention of this on a previous thread in last few weeks, but cannot remember which one.

[harrip]

I'm only a PPL but I am covered whilst flying through life/accident insurance through my super fund.

I had a to fill in an extra declaration but the end result was it did not cost me any more and I'm definitely covered for the activity. Thats with australiansuper.com

[Mr. Hat]

trusts

Kwod, one way of doing that is to create a trust stucture. It does cost money to run but can have the benefit of separating your assets from your name and therefore protect you against losing your assets should someone decide to sue you.

I'm not sure about putting everything in one persons name although I know some that do and have.