Loss of Licence Insurance
Join Date: Oct 2002
Location: Surrey
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The biggest problem with Loss Of Licence is that the CAA never actually take away ones licence anymore - even for the most serious of illnesses or conditions. This is supposed to help you eventually regain your flying status.
When you get an illness or condition that stops you flying for longer than 30 days, you will be issued with a provisional suspension of flying status letter by the CAA.
Except for very clear cut cases, loss of limbs, loss of sight etc, you can remain provisionally suspended for years.
If consultants and the CAA finally decide that there is no current medical procedure available to regain your flying status then they will issue another letter placing you on Long Term Sick. Few consultants ever like to admit to there being nothing further that they can do - especially if you are under lucrative private care.
Loss of Licence insurers will not even talk to you until you get to the long term stage. Even at this stage you will still have to prove to the insurer that you will never be returned to flying status. Whether they pay or not is still discretionary!!!
Loss of licence is an important insurance, especially if you do not yet have a job, but it will not give you the protection that you will need if you lose your income.
How do I know this? Well I have been through it. I am thankfully now back flying after 2 and a half years off due to an apparently straightforward illness. I am now somewhat enlightened about how difficult a time it is being grounded and how important the right insurance is.
My personal recommendation is that you make sure you have an own occupation, Permanent Health Insurance (PHI) policy that will start to pay out when your employer stops your salary.
I, fortunately, had such a policy and I claimed under it during my time off. The claim process was simple and clear. It gave me a reasonable tax free salary whilst my employer was not paying me.
I will gladly pass to you details of the policy that I have and give you further details. Either email me or leave a private message.
When you get an illness or condition that stops you flying for longer than 30 days, you will be issued with a provisional suspension of flying status letter by the CAA.
Except for very clear cut cases, loss of limbs, loss of sight etc, you can remain provisionally suspended for years.
If consultants and the CAA finally decide that there is no current medical procedure available to regain your flying status then they will issue another letter placing you on Long Term Sick. Few consultants ever like to admit to there being nothing further that they can do - especially if you are under lucrative private care.
Loss of Licence insurers will not even talk to you until you get to the long term stage. Even at this stage you will still have to prove to the insurer that you will never be returned to flying status. Whether they pay or not is still discretionary!!!
Loss of licence is an important insurance, especially if you do not yet have a job, but it will not give you the protection that you will need if you lose your income.
How do I know this? Well I have been through it. I am thankfully now back flying after 2 and a half years off due to an apparently straightforward illness. I am now somewhat enlightened about how difficult a time it is being grounded and how important the right insurance is.
My personal recommendation is that you make sure you have an own occupation, Permanent Health Insurance (PHI) policy that will start to pay out when your employer stops your salary.
I, fortunately, had such a policy and I claimed under it during my time off. The claim process was simple and clear. It gave me a reasonable tax free salary whilst my employer was not paying me.
I will gladly pass to you details of the policy that I have and give you further details. Either email me or leave a private message.
niknak
Join Date: Dec 2001
Location: UK
Posts: 2,335
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Try traffords , they will quote you for virtually every type of aviation insurance going.
They're very thorough, and will not try an sell you something you don't need, but be warned - the policies are very expensive, and may not always be worth the premiums.
It entirely depends on your circumstances.
They're very thorough, and will not try an sell you something you don't need, but be warned - the policies are very expensive, and may not always be worth the premiums.
It entirely depends on your circumstances.
