Life Insurance for Pilots

Life Insurance for Pilots

                                     Whole life and Term Life Insurance Plans 

If you are a private pilot I can help you obtain Life insurance. Private Pilots can obtain Term or Whole Life Insurance plans.

I often hear the rates are very expensive?

Well , they can be,  if you go to the wrong carrier. Some carriers write this market and are more competitive. For example with one of my carriers you may be able to get Preferred Rates. If you are a Commercial Pilot you generally qualify Preferred Rates with this carrier.

How can I qualify for the best rates?

The good news is that most private and commercial pilots are in very good health. This article address the Private Pilot market,. Commercial pilots generally have access to company based Life Insurance plans. If you are a commercial pilot and want more coverage , then contact me and we can review your needs.

Ok, back to the Best Raitings: Beyond general health guidelines ( Click HERE for an overview) carriers will ask the same general questions in order to qualify for Preferred Rates:

Age 26 or older, but under 70
No longer a student pilot
At least 150 hours of flight experience
Fly between 25 and 200 hours per calendar year
Instrument Flight Rules ( IFR) certified with 10 hours of completion
DMV and aviation records with incidents or citations
Disease-free of : Diabetes, Cardiac, Neuroglogia, Cerebrovascual ( Stroke) , or other disorders that preclude aviation coverage.

What other questions will Carriers ask about my flying activities?

Here is a general list of common questions:

Type of Aviation certificate
Has your certificate ever been suspended or revoked
Current class of medical certificate and expiration date
Do you have an Instrument Flight Rating ( IFR) – Number of hours of IFR flying
Do you fly outside of the USA
Any aviation accidents
Any aviation citations

They will want to know what Type of Flying you do:

Student / Pleasure or Business / Other ( Racing, Acrobatic, Stunt etc)

They will also want to know about the Airplane(s) that you fly.

What is the process to get a quote?

The first thing would be to review your current health and life insurance needs. From there I would look at each carrier to determine who would handle your current health and life insurance requirements at the best rates. Once that is completed I review their aviation questions. As mentioned, some are easier to work with than others. Once we have the right fit we fill out the general application and fill out the Avaition questionnaire. I take both of these, review them with the carriers underwriter and/or our in-house underwriter to make sure we meet the carriers ( Who would like to apply to) requirements. Yes , it does take a bit of time to get the right fit but it is well worth the time to insure you get the best possible rates with the best possible carrier.

Contact me today at 512-963-5000 or fill out my Contact form