Insurance: Life, Loss of Licence, Sickness etc (NOT hull insurance)
Join Date: Jul 2002
Location: Lincoln
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Agree that Sovereign seem to be most competitive and easy to work with. Got 120 grand worth of joint cover for a tenner a month through Legal & General via Sovereign. No premium loading due to flying hours.
Kev Bac:
don't take this the wrong way, but your premium doesn't make sense at all!!!
I have cover for £200,000 and the premium on this is 1%
£2000/year. Your £120/year seems suspect to say the least (pro rata).
I'd love to read the small print
don't take this the wrong way, but your premium doesn't make sense at all!!!
I have cover for £200,000 and the premium on this is 1%
£2000/year. Your £120/year seems suspect to say the least (pro rata).I'd love to read the small print
Join Date: Jul 2002
Location: Lincoln
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Thomas,
we are talking a simple 'If you die, this is what you get' life insurance policy, with none of the considerations you have discussed.
By his original post, this seems to be what Helimutt was after and this is what Sovereign offers.
we are talking a simple 'If you die, this is what you get' life insurance policy, with none of the considerations you have discussed.
By his original post, this seems to be what Helimutt was after and this is what Sovereign offers.
Join Date: Jun 2002
Location: 1 deg south, avoiding Malaria P Falciparium
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disability insurance/income replacement
Hello all,
Now that I kinda make an income and am off the diet of ramen noodles,tuna fish and minute rice I have been thinking about insurance plans. (though i still enjoy a hot cup of 19cent noodles)
I have been looking into getting a long term disability plan in case I blow a disk or come down with some wierd diease 20 yrs from now and cant fly. Some sort of income replacement plan.
Do any of you guys have such a beast?
Who Are the better vendors?
What do not want to tell them, what do you want to tell them?
Anything I should be leary of?
Are eyes/vision typically insured in these plan..
Any advice, input and warning welcome.
Thanks
RB
Now that I kinda make an income and am off the diet of ramen noodles,tuna fish and minute rice I have been thinking about insurance plans. (though i still enjoy a hot cup of 19cent noodles)
I have been looking into getting a long term disability plan in case I blow a disk or come down with some wierd diease 20 yrs from now and cant fly. Some sort of income replacement plan.
Do any of you guys have such a beast?
Who Are the better vendors?
What do not want to tell them, what do you want to tell them?
Anything I should be leary of?
Are eyes/vision typically insured in these plan..
Any advice, input and warning welcome.
Thanks
RB
Insurance is a messy business, I would suggest - anywhere.
I would even go as far as to say: crooks, some of them!
Personal experience has taught me the following:
Pay enough money and you will get cover.
Read the small print and if you can't understand it get another crook (lawyer) to explain it - FL excluded of course
Loss of licence is cheaper/easier to get.
Income protection is very expensive and is a legal minefield. It 'normally' only covers you if you become a vegetable
[Unable to feed/dress oneself]. Very very rarely do you get income protection for your particular profession (aviation). It's too risky for the insurance company.
Finally -if you get the insurance you want -comply with every single aspect of its requirements, or they will nullify it at the drop of a hat (this means telling them you had measles at 4 and haemarroids at 44!].
Good luck!
I would even go as far as to say: crooks, some of them!
Personal experience has taught me the following:
Pay enough money and you will get cover.
Read the small print and if you can't understand it get another crook (lawyer) to explain it - FL excluded of course
Loss of licence is cheaper/easier to get.
Income protection is very expensive and is a legal minefield. It 'normally' only covers you if you become a vegetable
[Unable to feed/dress oneself]. Very very rarely do you get income protection for your particular profession (aviation). It's too risky for the insurance company.
Finally -if you get the insurance you want -comply with every single aspect of its requirements, or they will nullify it at the drop of a hat (this means telling them you had measles at 4 and haemarroids at 44!].
Good luck!
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
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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.
Join Date: Feb 2003
Location: uk
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Insurance against loss of medical
Hi guys and girls I am a student pilot currently doing my CPL in the UK.
Even if I don't have a flying job yet(and I know it will take a while to get one) I was thinking to buy an insurance against loss of class one medical ,at the end of the day I am investing tens of thousands of pounds and the fact that I will have a return in life depends also on my class one medical,if I lose it at any stage from now I will be left with no money and without the hope to get the so much wanted flying job!
Is it possible to get an insurance at this stage of training agaist loss of medical one?
If you have experience with any insurance companyes about this matter could you please give me advise?
Regards,
M.A.
Even if I don't have a flying job yet(and I know it will take a while to get one) I was thinking to buy an insurance against loss of class one medical ,at the end of the day I am investing tens of thousands of pounds and the fact that I will have a return in life depends also on my class one medical,if I lose it at any stage from now I will be left with no money and without the hope to get the so much wanted flying job!
Is it possible to get an insurance at this stage of training agaist loss of medical one?
If you have experience with any insurance companyes about this matter could you please give me advise?
Regards,
M.A.
Join Date: Jul 2002
Location: Under bar stool
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Try BALPA or IPA both provide/or can put you in touch with companies that can arrange medical cover. When I was a student pilot the Insurers had a cap of £30,000 unless you where in airpine. Don't know if that is still true or if it was just that company.
Join Date: Jul 2003
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Loss of medical insurance
Does anyone have avenues, which they recommend I pursue in regards to loss of medical insurance information?
Who is good and who is not?
I have contacted so far, the Australian federation of Air Pilots and their associated fund, but basically I am after all my options.
Any help would be appreciated.
Cheers
Who is good and who is not?
I have contacted so far, the Australian federation of Air Pilots and their associated fund, but basically I am after all my options.
Any help would be appreciated.
Cheers
I have done some hunting around on this one before an I think you will find that untill you are with one of the majors (i.e. Virgin or Qantas or affiliates) all of your options are the AFAP. I spoke to several insurance brokers over this who were willing to put their thumb in my pie if they could. There was some talk that some small underwriting mobs from the states may have been interested. Seeing that I am an Oz GA pilot I told them what they could do with their thumb.
Heard good stories about the AFAP setup, albeit not real cheap, and you need to be a member.
Anyone else?
Willie
Heard good stories about the AFAP setup, albeit not real cheap, and you need to be a member.
Anyone else?
Willie
Join Date: Jul 2003
Location: Australia
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medical insurance
Had a mate who had some serious medical problems as result lost his long time flying job. Had insurance with Aon insurance via Pacific underwriting. They were very unhelpful and did all they could to stall and get out of any benefits being payed out. Said manager Ian in Sydney was a real pig. Needless to say he wouldn't recommend this company. Shop around and read the fine print...
Join Date: Jun 2001
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Try Lumley life, they have a good Income protection policy that covers pilots. Whilst this is not "Loss of Licence" it is the closests thing you can get with a good benefit nowdays.
They offer up to 75% of your salary to age 65, if you can not work in your nominated ocupation. So this covers for loss of licence or just Ill health.
They offer up to 75% of your salary to age 65, if you can not work in your nominated ocupation. So this covers for loss of licence or just Ill health.
Join Date: Feb 2000
Location: Australia
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personal accident insurance...?
Hi Folks,
Could anyone in Australia suggest an insurance company that would cover an freelance helicopterpilot for personal accident insurance. Presently in Victoria.
Thanking you in advance,
Nomads
Could anyone in Australia suggest an insurance company that would cover an freelance helicopterpilot for personal accident insurance. Presently in Victoria.
Thanking you in advance,
Nomads
Last edited by Nomads; 26th Feb 2004 at 12:56.
Join Date: Nov 2002
Location: AUS
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You could start with your bank. You will probably be able to get it just remember to fully disclose what you do for a living. Most life and disability policies have a clause thats says you are not covered whilst involved in motorsport, mountain climbing or acting as P.I.C. of an aircraft other than rpt.
My bank gave me an extra form to fill out asking hours flown each year, type of work etc. They still offered me the insurance but at triple the premium. Guess they spoke to my boss !!
My bank gave me an extra form to fill out asking hours flown each year, type of work etc. They still offered me the insurance but at triple the premium. Guess they spoke to my boss !!
Join Date: Feb 2000
Location: Australia
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Hi again,
Surely there must be a few more freelance pilots in Australia that have personal accident insurance.
It seems dificult to get any income cover as a helicopter pilot. I am looking to something equivalent to work-cover when you are employed for a company.
Any suggestions???
Thanks again.
Nomad
Surely there must be a few more freelance pilots in Australia that have personal accident insurance.
It seems dificult to get any income cover as a helicopter pilot. I am looking to something equivalent to work-cover when you are employed for a company.
Any suggestions???
Thanks again.
Nomad
Join Date: Jun 2003
Location: Australia
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Try Comminsure, part of the commonwealth bank.
They will cover you for trauma/life insurance dont know about loss of licence though.
Also try Patricia Kenney I cant remember what company she works for but it is an aviation underwriter they were offering loss of licence but this is getting harder to come by as the years go on and gets quite expensive once over 40.
They will cover you for trauma/life insurance dont know about loss of licence though.
Also try Patricia Kenney I cant remember what company she works for but it is an aviation underwriter they were offering loss of licence but this is getting harder to come by as the years go on and gets quite expensive once over 40.