Life Insurance Issues....

mtsu_av8er

mtsu_av8er

Well-Known Member
Another thread made me think about some of the problems that some pilots face with life insurace.

What companies are you guy/girls working with?

What types of problems are you facing with obtaining policies?

How difficult is it for you to find policies that don't have aviation exclusion riders?

For those of you that carry insurance through your employer, are you being well taken care of??

Just some thoughts. I know that I've found it pretty difficult to find any company that can offer me enough insurance at an affordable rate, so I stuck with VGLI ($16.00/month for $250,000.....can't beat it). For you military guys and vets....damn what the VA Rep and your military buds say, VGLI is a good deal.

Responses? Reactions?
 
I found out a few months ago my mom bought a life insurance policy out on me because I fly. She paid AOPA $100 for a year of coverage and is worth 100G's if I bite the dust. I don't think this is too bad, considering I am single and only 22. I guess I would probably need a little bit more if I had kids and a wife.
 
$100 for $100K in coverage ain't bad. I've been dragging my feet on the life insurance thing and now that the "Spawn of Stan" (a/k/a Eggbert and/or R2F2) is growing everyday, I need to get off my happy arse and get that take care of, so I'll be paying particular attention to this thread.
 
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I found out a few months ago my mom bought a life insurance policy out on me because I fly.

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How did you find this out. Did you catch her loosening some screws on the airplane or something?
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Sorry I could not resist that. I know I'm going to hell.
 
I pay about $400/year for $750,000 of 20 year term life insurance. (35 years old, non-smoker, excellent health)...

Plus I have another $500,000 through my employer.

At $1.25 Million (plus all of our other assets), I think my wife would be quite comfortable... hhhmmm... maybe TOOO comfortable!
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I didn't have to pay any additional premium because I was a pilot... As a matter of fact, I qualified for their lowest rate (and for anyone who knows how I eat, it was a shocker!)
 
Doug and I used Zander Life insurance over the internet to get quotes and have proposals sent.. it really wasn't too difficult to find an insurance that could cover him since he's a pilot... his rates were really low too - LOWER than mine....
 
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I found out a few months ago my mom bought a life insurance policy out on me because I fly.

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How did you find this out. Did you catch her loosening some screws on the airplane or something?
tongue.gif


Sorry I could not resist that. I know I'm going to hell.

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lol,

No, just out of the blue she told me and I was like thanks mom. But, I'll only be worth about 50G's after my loans are paid off. So I am sure she will wait till I have more life insurance and some assets before she starts to think of anything crazy!!
 
Check out AOPA, I think they do whole life, but they refer the term life policies to Minnesota Life-their rates are very reasonable for AOPA members.
 
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But, I'll only be worth about 50G's after my loans are paid off.

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Which kind of loans...Federal education loans? If so, those disappear when you die!!!
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But, I'll only be worth about 50G's after my loans are paid off.

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Which kind of loans...Federal education loans? If so, those disappear when you die!!!
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Really, that's great. I guess I'll be worth about 70G's dead then!! I do have some private loans to deal with though. Pssst, don't tell my mom about this new info!!
 
I tried Zander at the Taylor's suggestion several months ago and I don't know what the deal was but it was a weird company, their replies didn't make any sense, they took months to get back to me, and I was just over all completely frustrated after repeatedly trying to get it handled.

So I went to www.pilotinsurance.com and got the policy there. At first the premium was about $22 for $500K, but then we found out about Corbin's triglyceride problem, (which is now being treated) but that shot the premium up to $33. So we opted for $250K for $19 a month, and if we get his problem taken care of, then we can get the rate changed on the 1 year anniversary.

For my own policy and my son's policy, I go through Allstate.

May I just take this chance to remind you guys to take care of yourselves?? I see so many people that eat such JUNK! Corbin's problem was soda pop! And it took a medical problem for him to face it. If we hadn't gotten his policy, we never would have known, and he would have steered himself toward having diabetes. So you guys take care of your health and eat good and exercise!!
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(Said with love and kindness and concern, not trying to sound bossy)
 
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So you guys take care of your health and eat good and exercise!!
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That's the truth. You don't have to be skinny and a super fitness freak, but you've gotta take care of yuor body. If you're not going to excercise, you can't eat pork rinds for breakfast!!!
 
I looked through the documentation on our life insurance after I started flying and didn't see any exclusions for pilots. Is this weird? Did I not look in the right place? This is insurance purchased through our employer. We work for the same company.
 
My suggestion?

Go to http://zanderins.com, get quotes for 30 year level term life insurance for at least $500,000, fill out the paperwork, and smile.

Loved it, piece of cake, and the best rates I've found.

I have zero affiliation with Zander whatsoever.

Term life insurance offers low rates, 30 years of guaranteed premiums and peace of mind.

These guys are TOP NOTCH and I rarely use that term.
 
geez michelle.. you must have had to deal with some weird representatives... that sux...everyone always has different experiences.. and that'll just always be the case...

zander wasn't a problem for us at all.. as long as we were looking for a specific type of insurance...I'd say definatley go for term (you get better deal for your $$) insurance.. at least 30 years...
 
I went through AOPA's Minnesota Life plan and signed up for the 10 yr. term $100,000 coverage life insurance for $107/yr. This covers any kind of death ,aviation and nonaviation related. That's in addition to the $50,000 coverage from AOPA I have with their Death and Dismemberment coverage involving only airplane related incidents.
With an instrument rating, the rates go down. Next week after my instrument checkride (if all goes good of course) I'll reapply for the lower rates.
 
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If you're not going to excercise, you can't eat pork rinds for breakfast!!!


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DAMMIT!

Mmmmm - Pork rinds!! I like `em Hot-N-Spicey!!!!
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