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Life Insurance

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mikemac

Joined: 22 Apr 2016
Posts: 18

Posted: Thu May 19, 2016 1:53 pm Post subject: Life Insurance

Does anyone know of any company that offers life insurance to Part 103 pilots or Light Sport.

russk50(at)gmail.com
Guest

Posted: Thu May 19, 2016 5:39 pm Post subject: Life Insurance

Are you veteran? I know of no exclusions in NSLI

Russ K

do not archive



 	  Quote: 	
		   On May 19, 2016, at 5:53 PM, mikemac <mmacpherson(at)homesale.com> wrote:

 

 

 

 Does anyone know of any company that offers life insurance to Part 103 pilots or Light Sport.

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=456378#456378

mikemac

Joined: 22 Apr 2016
Posts: 18

Posted: Fri May 20, 2016 1:41 pm Post subject: Re: Life Insurance

I have life insurance but not covered if I am pilot in command. I fly 103 but would be willing to go sport pilot if that would make a difference. 

Just looking for a company that would not make recreational flying an exception to my coverage.

mikemac

Joined: 22 Apr 2016
Posts: 18

Posted: Fri May 20, 2016 1:42 pm Post subject: Re: Life Insurance

Yes I am a veteran. What is NSLI

russk50(at)gmail.com
Guest

Posted: Fri May 20, 2016 5:37 pm Post subject: Life Insurance

National Service Life Insurance Co. Worth a look, but I don t know much about it. I signed up for it when I enlisted,

then years later it stopt paying & I dropt it.



 	  Quote: 	
		   On May 20, 2016, at 5:42 PM, mikemac <mmacpherson(at)homesale.com> wrote:

 

 

 

 Yes I am a veteran. What is NSLI

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=456412#456412

ceengland7(at)gmail.com
Guest

Posted: Fri May 20, 2016 7:32 pm Post subject: Life Insurance

On 5/20/2016 4:41 PM, mikemac wrote:

 	  Quote: 	
		   



 I have life insurance but not covered if I am pilot in command. I fly 103 but would be willing to go sport pilot if that would make a difference.

 Just looking for a company that would not make recreational flying an exception to my coverage.

These days, I doubt you'll find one. (Pretty soon, they'll exclude 
	


coverage of your death...)



Try EAA & AOPA; ask about their insurance programs. I've seen in-flight- 

only policies in the past, but haven't paid much attention lately. I'm 

retired with no income to replace.



Charlie

mikemac

Joined: 22 Apr 2016
Posts: 18

Posted: Sat May 21, 2016 11:14 am Post subject: Re: Life Insurance

Thank you for the replies so far. I will investigate.

ceengland7(at)gmail.com
Guest

Posted: Thu May 26, 2016 5:24 pm Post subject: Life Insurance

On 5/20/2016 4:41 PM, mikemac wrote:

 	  Quote: 	
		   



 I have life insurance but not covered if I am pilot in command. I fly 103 but would be willing to go sport pilot if that would make a difference.

 Just looking for a company that would not make recreational flying an exception to my coverage.

Just got an advert from AOPA. They're offering accidental death (only) 
	


coverage for members under age 70, as a supplement for regular life ins. 

Max coverage of $200K for ~$50/month. Not cheap, but if you really need 

it....

byoungplumbing(at)gmail.c
Guest

Posted: Thu May 26, 2016 6:55 pm Post subject: Life Insurance

Last I heard some companies would cover you if you declare your flight status and pay  an extra fee for the rating...   Ask 

Boyd On May 20, 2016 3:45 PM, "mikemac" <mmacpherson(at)homesale.com (mmacpherson(at)homesale.com)> wrote: 	  Quote: 	
		  --> Kolb-List message posted by: "mikemac" <mmacpherson(at)homesale.com (mmacpherson(at)homesale.com)>

 

 I have life insurance but not covered if I am pilot in command. I fly 103 but would be willing to go sport pilot if that would make a difference.

 Just looking for a company that would not make recreational flying an exception to my coverage.

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=456411#456411

 

 

 

 

 

 

 

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mikemac

Joined: 22 Apr 2016
Posts: 18

Posted: Fri May 27, 2016 9:23 am Post subject: Re: Life Insurance

I did call Avemco. They referred me to Pilot Insurance Center. I can get $100K for $630.00 a year. 200K for just under $700.00 per year.

ACCIDENTAL DEATH ONLY includes Ultralights.



This is just so my wife is not left out in the Cold if I would die flying. She is totally behind me flying without insurance but I just cannot do that. My regular life insurance has an aviation clause where I am not covered.  I am exploring other options also but PIC sound reasonable to me. After age 75 all bets are off I believe.



Thanks to everyone that has responded to my query.

ceengland7(at)gmail.com
Guest

Posted: Fri May 27, 2016 12:47 pm Post subject: Life Insurance

If you're under 70, the AOPA rates are significantly better for AD&D insurance. One thing you need to ask yourself is whether you really need it. If you aren't still working and producing income, how much would your family income (pension, social security, etc) decrease if you're gone? How much would her living expenses increase (or decrease) if you're gone?



Now that I'm retired & not producing income, my wife would lose only her SS income (picking up mine), and she'll still get half my pension, so with decreased expenses (one car instead of two, no aircraft expenses, one medicare supplement instead of two, etc), we don't need life insurance.

Charlie



On Fri, May 27, 2016 at 12:23 PM, mikemac <mmacpherson(at)homesale.com (mmacpherson(at)homesale.com)> wrote:

 	  Quote: 	
		  --> Kolb-List message posted by: "mikemac" <mmacpherson(at)homesale.com (mmacpherson(at)homesale.com)>

 

 I did call Avemco. They referred me to Pilot Insurance Center. I can get $100K for $630.00 a year. 200K for just under $700.00 per year.

 ACCIDENTAL DEATH ONLY includes Ultralights.

 

 This is just so my wife is not left out in the Cold if I would die flying. She is totally behind me flying without insurance but I just cannot do that. My regular life insurance has an aviation clause where I am not covered.  I am exploring other options also but PIC sound reasonable to me. After age 75 all bets are off I believe.

 

 Thanks to everyone that has responded to my query.

russk50(at)gmail.com
Guest

Posted: Mon May 30, 2016 11:10 am Post subject: Life Insurance

Mike

I have the Kolb Xtra, can only get NOT-in-flite insurance, costs me close to $1500/year. Ouch,

Are you an EAA member? They know about all the good insurance plans.

I had Avemco long ago, was not Impressed. Well, not favorably.

Russ

 	  Quote: 	
		   On May 27, 2016, at 1:23 PM, mikemac <mmacpherson(at)homesale.com> wrote:

  

 

 

 I did call Avemco. They referred me to Pilot Insurance Center. I can get $100K for $630.00 a year. 200K for just under $700.00 per year.

 ACCIDENTAL DEATH ONLY includes Ultralights.

 

 This is just so my wife is not left out in the Cold if I would die flying. She is totally behind me flying without insurance but I just cannot do that. My regular life insurance has an aviation clause where I am not covered.  I am exploring other options also but PIC sound reasonable to me. After age 75 all bets are off I believe.

 

 Thanks to everyone that has responded to my query.

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=456613#456613

ALonDer
Guest

Posted: Wed Aug 07, 2019 10:23 pm Post subject: Re: Life Insurance

At your age, I don't think it's a good idea to take life insurance. You won't get that much out of it. And depending on if you work or not, this could be a big hit on the family's budget. My dad is a veteran too and he struggles o paying the house insurance, although he got a good deal on the progressive insurance (https://homeownersinsurancecover.net/progressive-review/). Think twice before doing such a step, although you do it for the family, it might turn out to a load for them

racerjerry

Joined: 15 Dec 2009
Posts: 202
Location: Deer Park, NY

Posted: Thu Aug 08, 2019 6:59 am Post subject: Re: Life Insurance

OLD SAYING:

NEVER BE WORTH MORE DEAD THAN ALIVE

_________________
Jerry King

mark.shimei(at)gmail.com
Guest

Posted: Sat Aug 10, 2019 4:13 am Post subject: Life insurance

I don't think there's a company out there that will pay any amount if you are killed in an experimental airplane accident. Every life insurance policy I have tried to get in the last 30 years always has some sort of exemption. There may be one out there, but I'm sure the premiums are pretty high.



Mark....Ultrastar,500+ hours and counting with the original UL2

ceengland7(at)gmail.com
Guest

Posted: Sat Aug 10, 2019 1:16 pm Post subject: Life insurance

Not exactly what you're talking about, but you can get an AD&D policy that covers flying, to supplement a regular life policy.

Try here:

 https://www.eaa.org/eaa/pilots/eaa-insurance-solutions/eaa-personal-insurance-plan

No idea what it costs; I'm old enough that I don't carry life insurance any more, other than the minimal stuff offered by my employer's retirement plan.

Charlie

On Sat, Aug 10, 2019 at 7:16 AM Mark Shimei <mark.shimei(at)gmail.com (mark.shimei(at)gmail.com)> wrote:



 	  Quote: 	
		  I don't think there's a company out there that will pay any amount if you are killed in an experimental airplane accident. Every life insurance policy I have tried to get in the last 30 years always has some sort of exemption. There may be one out there, but I'm sure the premiums are pretty high.



Mark....Ultrastar,500+ hours and counting with the original UL2

Jerry-TS-MkII

Joined: 23 Aug 2017
Posts: 79
Location: Indiana

Posted: Sun Nov 17, 2019 3:22 pm Post subject: Re: Life Insurance

Prob around '88 - '90 I flew with a small group of ULers.  I looked at the EAA mag advertisement, which said "Death benefit" in U/L, etc.  When I asked about the fine print (with a family myself).. the policy stated, it had to be a LEGALLY REGISTERED Ultra-light aircraft.  Well, back then, (and I think even today) there IS NO LEGALLY registered part 103 U/L aircraft.  It's a sport recreational vehicle, and NOT registered, at all!   I called EAA.. They shrugged, no clue. I got a number for the ins co.. they appeared clueless to even the definition of a PART 103 air recreation vehicle.  Then I went to the Indiana insurance commission.. and it got interesting.  Apparently EAA had NOT explained what a U/L was, maybe putting it off as a (light weight) ultra light experimental.  The underwriter, had NO idea, what it was.. and worse "NO NUMBERS" by which to establish rates of death, or re-numeration.  Because NO ONE, kept that data.  Long story shorter.. the then current ins co was dropped, (by which party I'm not sure) and the rewrite didn't include U/Ls.  And worse?  I would expect if you found a policy which allowed coverage in a Part 103.. that it would need to be a legal one!  And how many of those exist??  There might be a lot of single-seaters, but few are Part 103 legal.  And the ins co will always find a way out of payment, if possible.



It was a real eye-opener.. and it became clear.  What the EAA ad had stated, was not valid, nor the coverage.  As if they had WRITTEN IN (or allowed by non-disclosure), what exactly was being insured, and the loop hole, (for the sake of a good rate??).  They pleaded ignorance. Really.  And no one else had asked the detailed questions??  Not good!  Jerry

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