Life Insurance

[Powerin]

Hi All,

 

Many of you probably already know this, but it was new to me so thought I would share.

 

One of the provisos from my wife for me to start flying was to make make sure my life insurance covered me when flying. It took me a while :big_grin: but I finally looked at my policy conditions and found that private flying was excluded.

 

A phone call to my insurance agent put my mind at rest. If you start flying AFTER you sign on the dotted line, you are still covered. The exclusion is only if you are flying at the time of taking out the policy. My agent gave the example of one of his own family members, who died in a crop duster crash. Policies he had started before he started flying paid up, but not the ones after.

 

Of course, you should check your own policies to make sure.

 

Peter

 

 

[sfGnome]

Yep. That was one of the things I checked before the first lesson. I was quite surprised to find in my case that there was no limitation on flying at all. I even rang the company to be certain because I found it hard to believe.

 

 

[youngster]

Travel insurance is usually the same way, ie, your travel insurer will not cover you for health care needed as the result of an accident involving private aviation

 

 

[Guest davidh10]

Even written advice is not valid, as it is excluded from the policy conditions ("the whole contract").

 

Read the insurance contract (probably called a PDS Product Disclosure Statement, these days).

 

...And then some of us are so old that we don't have to pay Life Insurance . . .

Good feeling eh Don and I'm not even retired yet.

 

 

[sfGnome]

Your wife lets you get away with no insurance?? I occasionally find mine reading the policy while fingering the kitchen knives...

 

Not true. Really!

 

 

 

[Guest SAJabiruflyer]

You should try getting that insurance when you're self employed... the Ins companies see dollar signs...

 

 

[Cosmick]

If you start flying AFTER you sign on the dotted line, you are still covered. The exclusion is only if you are flying at the time of taking out the policy.Peter

They cover suicide after a period of time, You would hope Aviation is seen as a better decision.