Insurance Advice

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I just thought I'd throw this out after commenting on another thread a moment ago .... but after as much help this place has been to me:

If any of you ever need advice on either life or health insurance issues - ask me - pm - whatever. I worked successfully in that field for over a decade. Would be happy to pass on insider information and make suggestions to anyone that needs help. There are ways around the BS, and maybe I can keep some of you from making a bad decision.

:D
 
Ah ha! I'm putting you to work already.

Pilots get the short end of the stick insurance wise.

First: Why

Second: What are some reputable companies that private and commercial pilots look towards to avoid the "OMG! You're a pilot?! You're going to die tomorrow, if you want us to insure you, just take our 'Smoker Rate' and multiply it by 20!!!"
 
Doug Taylor said:
Ah ha! I'm putting you to work already.
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DAMN!!!!

Doug Taylor said:
Pilots get the short end of the stick insurance wise.
First: Why
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As far as life insurance goes (my only experience when this happened). I've certainly seen some policies for folks with less than 1000 hours come back with waivers if the death occurs while acting as PIC. Above that.... it shouldn't be an issue. And if you had a policy issued with that sort of a waiver, it should have a cap (of hours) when that waiver goes bye bye.


Doug Taylor said:
Second: What are some reputable companies that private and commercial pilots look towards to avoid the "OMG! You're a pilot?! You're going to die tomorrow, if you want us to insure you, just take our 'Smoker Rate' and multiply it by 20!!!"
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Back to quest. #1. There are going to be some waivers if you start the policy with, or contemplating becoming a pilot without at least 1000 hours. Its simply a numbers game for the actuaries. That said. ..."Reputable".... My advice would be to find companies who have A, A+ or better ratings under some of the industry graders like "AM Best" or "Standard and Poors." Do not purchase an insurance policy from a company with a grade lower than an A.

Lastly... find a neighborhood (or local) agent that represents said company. If you can buy it off of an internet store...believe me you don't want it.
 
Ahh! Welcome to my world!

"Oh man, that burrito's wreaking havoc on my colon... oh HELL I've got 38 emails and 12 PM's!"
 
Why is that some companies (aetna) will send you check for $0.40 and not give you any trouble, while other companies (bcbs) will bend you over if you try to go to a hospital?
 
madmax said:
Why is that some companies (aetna) will send you check for $0.40 and not give you any trouble, while other companies (bcbs) will bend you over if you try to go to a hospital?
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My best advice with this is to go to the department of insurance website for your state, and look up consumer complaints. That is a very good way to look ahead of time at how many complaints by consumers the DOI receives for specific companies. It might help you make a decision on what company you'll choose.

If you have trouble getting a claim paid while you are insured with a company, there is a pretty straight forward approach I always use: Call customer service, talk to them very calmly and cordially. Ask them about the claim, its status, and such. Once you feel you've gotten a little connection with the person you are talking to, let them know (again - calmly) that you've been in contact with the Department of Insurance gathering information about filing a complaint regarding this claim, and that you feel it would be best for the company to finish up their end processing it correctly so that neither of you have to go through all that DOI paperwork. Usually, that worked like a charm.:)

Unfortunately, I think 50% of my time as an agent was spent battling insurance companies to pay claims for my clients. (and I used the good companies). Its something that we unfortunately need to be ready to deal with as consumers. On the other hand, if you have an agent servicing your policy, my first call would be to them. They are making a pretty sweet commission on your premiums - put them to work!
 
nkoenig said:
Is the life Insuranse from AOPA worth anything?
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If you just need life insurance to cover something like your student loans, and you can't get other coverage b/c you are a fairly new pilot, it does seem to be a good option.

On the other hand, if you are looking for more permanent life insurance for you or your family, and you have enough hours (1000+ but your mileage may vary with different companies) I would recommend finding a local agent who works for an established agency, and let them shop the coverage for you. Once they come back with rates, etc., do some research on the company or companies they recommend and be sure they have either an "A" or above rating with A.M. Best.
 
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