When you’re a pilot, buying life insurance is a bit complicated.
Many companies will see your occupation and worry that it’s too dangerous for them to cover.
I guess you could say the insurance industry also has a fear of flying.
As you know, flying a plane responsibility is not a dangerous activity. Statistically, you are safer flying your plane than driving a car.
Fortunately, there are many insurance companies that understand this point. With the right company, not only will your job not be an issue, it might actually work out to your advantage.
Problems for Pilots
In order to buy life insurance, you need to fill out an application describing your current situation. This is so companies can measure your risk as an applicant. Insurance underwriters not only consider your current health, but also several other factors. Your job is an important part of this analysis.
Many companies consider flying to be an excessively dangerous activity. This is true for both commercial and private pilots. When you mention you are a pilot, there’s a good chance you’ll get rejected from many companies. Should you get a policy, the policy might charge extra because of your job, the same as if you were in poor health or had a bad habit like smoking.
Another issue is a regular insurance company may exclude aviation from your policy. This means that if you die while flying, your policy won’t pay the death benefit. These rules are unfair and you should not have to put up with this treatment.
How the Right Company Can Help
When it comes to aviation, not all risks are equal.
- What is your level of experience?
- How much training do you have?
- Do you fly commercially or recreationally?
- What types of planes do you fly?
All these factors make a big difference and should be considered for your insurance policy.
An insurance company that specializes in pilot life insurance understands this and will be sure to collect this information. This process ensures that you will get a fair review and will get the coverage and rating you deserve.
Special Insurance Benefits for Pilots
Your being a pilot could actually work out to your advantage. As you know, not everyone can become a pilot, especially a commercial one. It takes a fair amount of training and education to get a license. In addition, you need to be in decent health to fly a plane commercially.
As a result, pilots as a group are healthier and live longer than the general population. Insurance companies that realize this give out discounted policies to pilots.
Another benefit of a good pilot policy is that it will be portable to all jobs. If you get a policy through your work, it might only cover you at that airline. Should you change companies or move to another field, you’ll lose your insurance. With a pilot policy, that won’t happen.
Importance of a Broker
The pilot insurance market is quite large. The best company for your needs depends on many different factors like the type of aircraft you fly and the amount you fly per year. To get the best rate, you need to find a company that matches your situation. However, finding a good match can be very time consuming.
Working with an insurance broker, like our company, saves you this headache. Our representatives understand the pilot insurance market. They can quickly match you up with the companies that make sense for your situation so you can easily track down the best rate.
Be Sure to Review Your Coverage
If you already have life insurance, congratulations! You’ve taken a big step towards protecting your loved ones. It would still be a good idea to contact our services for a policy review though, especially if it’s been a few years since you bought your policy.
Has your life changed over the past few years? For example, have you had more children or bought another house? Through our free review process, we’ll make sure that your coverage keeps up with your ever changing life. We’ll also make sure that your current policy doesn’t have any of the problems or exclusions because of your status as a pilot.
Being a pilot is only a problem for life insurance if you don’t plan properly. Our company makes sure you are prepared to get the best possible coverage. For a free quote, call us today (1-855-457-6525) or fill out our free online quote application form.