Loss of training insurance
Thread Starter
Join Date: Jul 2007
Location: Dubai
Posts: 38
Likes: 0
Received 0 Likes
on
0 Posts
Loss of training insurance
(Sorry...if this is covered elsewhere (which it must be). I've search and searched, but can't find anything relevant).
I'm starting an integaated couse in Jan, and want to cover myself in case I can't complete the course (for whatever reason - medical mainly I guesss).
I've been sent an application form for HISCOX, but know nothing about them. It's also been suggested I join BALPA, but they only appear to provide assistance with claims for a third party insurer.
Has anyone any experience is this area?
I'm starting an integaated couse in Jan, and want to cover myself in case I can't complete the course (for whatever reason - medical mainly I guesss).
I've been sent an application form for HISCOX, but know nothing about them. It's also been suggested I join BALPA, but they only appear to provide assistance with claims for a third party insurer.
Has anyone any experience is this area?
Join Date: Nov 2003
Location: Top Draw, Right Hand Side
Age: 38
Posts: 224
Likes: 0
Received 0 Likes
on
0 Posts
I've just received my Insurance forms from HSBC. My policy will cover me for Critical Illness etc and Death. In the event of either of these the policy pays out just over £55k to pay off my loan. Any surplus then goes to either me or my family depending on the reason for the pay out obviously.
In addition to this I will be taking out Income Protection Incurance as soon as I land my first job to cover that aspect incase of loss of licence.
HSBC Milton Keyenes have been really good with me on this point. I think it helps that they do understand exactly what you need to be covered for.
Hope this helps.
CS
In addition to this I will be taking out Income Protection Incurance as soon as I land my first job to cover that aspect incase of loss of licence.
HSBC Milton Keyenes have been really good with me on this point. I think it helps that they do understand exactly what you need to be covered for.
Hope this helps.
CS
Join Date: Jun 2006
Location: UK
Posts: 566
Likes: 0
Received 0 Likes
on
0 Posts
BALPA sells a policy to student pilots that covers loss of the Class 1 medical. You won't find a policy that covers all contingencies, such as failing or dropping out. The BALPA policy does not cover death either.
Join Date: Nov 2003
Location: Top Draw, Right Hand Side
Age: 38
Posts: 224
Likes: 0
Received 0 Likes
on
0 Posts
Adios - Good point. No one is going to cover you failing to pass etc.
The best you will find are the policies that cover death, critical illness and loss of licence for whatever reason (apart from disqualification after being found guilty of drink flying etc)
Chris
The best you will find are the policies that cover death, critical illness and loss of licence for whatever reason (apart from disqualification after being found guilty of drink flying etc)
Chris
Thread Starter
Join Date: Jul 2007
Location: Dubai
Posts: 38
Likes: 0
Received 0 Likes
on
0 Posts
Thanks for all that everyone. HISCOX will provide cover for accident/illness during training - about £250 for a 12 month flying training course covering you up to £60K (I'm sure premiums will vary on individual circumstances though).
http://www.hiscox.com/ViewCMSPage.as...0-98a6ab7fab65
http://www.hiscox.com/ViewCMSPage.as...0-98a6ab7fab65
Join Date: Nov 2003
Location: Top Draw, Right Hand Side
Age: 38
Posts: 224
Likes: 0
Received 0 Likes
on
0 Posts
Funnily enough I had Endsleigh (Insurance Brokers) phone me last night about my Life Cover etc etc after I enquired about a fe things 6 months ago....
They were really helpful and are somewhat cheaper than HSBC for a longer and better policy. HSBC quoted just over £22 p/month to cover £55k against Critical Illness or Death for 11 years.
Endsleigh have got me with Friends Provident for £22.79 p/month covering me against Critical Illness or Death for £150k over 15 years! It's a really good deal because they pay out for more things than almost any other company. Including many things that would lead to loss of licence!
Chris
They were really helpful and are somewhat cheaper than HSBC for a longer and better policy. HSBC quoted just over £22 p/month to cover £55k against Critical Illness or Death for 11 years.
Endsleigh have got me with Friends Provident for £22.79 p/month covering me against Critical Illness or Death for £150k over 15 years! It's a really good deal because they pay out for more things than almost any other company. Including many things that would lead to loss of licence!
Chris
