Life Insurance Query

[numptie]

This has probably been raised in the past so I'm hoping someone can either point me to the right thread or provide a bit of advice. Is there an insurance company that can provide life insurance and/or income protection WITHOUT an aviation exclusion?

 

The proposals I've received say:

 

No benefit shall be payable under this policy for any period of disability resulting directly or indirectly from engaging in aviation except as a fare-paying passenger on a scheduled airline

 

Well to me it sounds like that excludes a lot of things, e.g. chartering a flight, being flown in a rescue helicopter or air ambulance among other things.

 

Bob

 

 

[Guest SAJabiruflyer]

Have a gander in the RA-Aus magazine, im sure I saw an ad in there for aviation specific insurance, at the very least they might be able to point you in the right direction.

 

 

[naremman]

Faced this dilemma about twenty years ago when I was faced with agriculture imposed debt (again), wife diagnosed with breast cancer and two kids with boarding school looming, and somebody posed the question: "what happens if you go under a bus mate?'

 

All the initial inquiries resulted in addittional premiums because of 50/60 hours a years private GA flying. A 30% loading on my premiums did not greatly appeal to the component of Scottish blood in my make up. Fortunately one of the reps with one of the mainstream companies that I was dealing with was a former CPL (helicopter), and suggested we started horse trading. I made a case that they were happy to insure me as a farmer, one of the more dangerous vocations around without loading the premium, not take exception to the 50/60000 Km that I was on the roads, mainly country with a fair bit of it on gravel roads, yet wanted to whack me for a modest amount of private flying. I also contended that having a regular medical was a positive, and the skills and discipline I had acquired through aviation had a beneficial influence on my farming and driving. A 3 month brawl ensued, with the net result of no extra premiums, but with me agreeing to forego the night flying and aerobatics side of flying, which was probably not unreasonable with the circumstances that I was facing.

 

Twenty years down the track the insurance company has had premiums out of me every year without having to lay out a zac, though being in the second half of my fifties the premiums are starting to get a bit ugly. Still running with the agriculture imposed debt, sadly the first wife lost the battle with breast cancer, and happily, the kids got through boarding school and turned out to be reasonable human beings.

 

What I learnt I suppose was to not accept the first offer and keep negotiating. Whilst some might see insurance premiums as lost money, there are times that accepting a payout means you are dealing with not a good outcome.

 

 

[rdarby]

I am with OnePath (owned by ANZ). When I took the insurance out I wasn't flying. When I started flying they said that it didn't matter. There must be policies out there else how would pilots get any insurance at all?

 

This is not advice in any way at all.

 

Ryan

 

 

[Guest Andys@coffs]

I'd be very happy to go my entire life making premium payments without ever making an insurance claim.

And theres a fair chance thats exactly how it will continue ...After all the insurance is against death......

 

 

[Suitman]

I was talking about all forms of insurance not just the "d" word.

Funny how it's called "Life" insurance ...

Peter

 

 

[shags_j]

I'm lucky enough to be under a group life policy at work. Being a group policy it doesn't have any exclusions, medicals etc. (i do work for a company that provides life insurance though).

 

If you need an adviser, let me know.

 

Cheers,

 

J

 

 

[eightyknots]

I'm with AMP. I don't think there's an aviation exclusion because I declared that I would be flying recreationally up front.

 

I think it should be renamed death insurance not life insurance. After all, loss of income insurance insures someone against, er, loss of income; car insurance replaces your car and contents insurance will give you funds to compensate for loss of your contents. You don't get a new life with life insurance.

 

 

[Guest Andys@coffs]

I'm with AMP. I don't think there's an aviation exclusion because I declared that I would be flying recreationally up front.I think it should be renamed death insurance not life insurance. After all, loss of income insurance insures someone against, er, loss of income; car insurance replaces your car and contents insurance will give you funds to compensate for loss of your contents. You don't get a new life with life insurance.

Yeah but it cant be too far wrong afterall, nobody who ever had it and then needed it every complained about it......

 

 

[Cosmick]

Don Ramsay said-I'd be very happy to go my entire life making premium payments without ever making an insurance claim.

No matter what the timing is - you will

 

 

[johnm]

yes - thats the summary ............................................................... lifes a sexually transmitted terminal disease, and if you have death insurance ............................. you ? will get the payout - that is after the insurer checks the fine print

 

JM

 

 

[shags_j]

FYI Guys...

 

I've had our life insurance team here at work looking into it and we may have found an underwriter willing to write without an exclusion. If you are interested, PM me. (Ian, I hope this is still in the forum guidlines, if not, delete the post).

 

Cheers,

 

Shags