Pilot's Disability Insurance
Pilot disability insurance, also known as pilot loss of license insurance, is extremely important for all kinds of pilots such as commercial pilots, corporate pilots, cargo pilots, aerial applicators, agricultural pilots, firefighter pilots, air show pilots, test pilots or air ambulance pilots.
A Pilot's Peace of Mind
Pilots face a unique set of exposures and high risk with every flight. The job comes with great responsibility and is not for the faint of heart; there is an immense weight on a pilot’s shoulders during their typical workday, keeping in mind all the important things like passengers and crewmen, people on the ground, the weather, their company, the plane, their health, their family and the list goes on.
If you lose your license to fly, your income will stop but your bills will not. Pilot disability insurance provides income protection, allowing you to receive the financial benefit that would help with your day to day expenses and keep you and your family living the life they’re accustomed to living.
Pilot disability insurance provides either a monthly benefit or lump sum benefit in case a pilot is determined to be unfit to fly due to a medical condition. The Federal Aviation Administration (FAA) has strict health requirements for pilots; every year they must complete an annual medical exam to maintain their license. While there are many health conditions, such as high blood pressure, that would allow many people in other occupations to continue working, a pilot with hypertension would lose their license to fly a plane. With so many lives in their hands, it is easy to justify why a pilot must be in good physical condition.
Pilot disability insurance is available because traditional disability insurance companies do not want to cover pilots under their ‘own occupation’ definition, which is typically too strict to cover them.
Depending upon your income, age and several other factors, a higher than typical amount of pilot disability insurance is available. Underwriting is straightforward and only takes a few days to provide a quote for your policy. The purchase can be completed after receiving the quote.
In case of permanent loss of license, pilot disability insurance can also make lump sum payment, also called the career ending benefit, to compensate for loss of future income up to 10 times the annual income.
If a pilot temporarily loses their license due to an injury or sickness then pilot disability insurance can pay monthly benefits up to 60 months.
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Loss of license coverage, provides monthly benefit amounts from $500 to $25,000 per month.